Citizens Financial Group, Inc. $CFG Shares Sold by Bank of Montreal Can

by · The Markets Daily

Bank of Montreal Can lessened its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG – Free Report) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,595,345 shares of the bank’s stock after selling 210,660 shares during the quarter. Bank of Montreal Can owned approximately 0.59% of Citizens Financial Group worth $116,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CFG. OneDigital Investment Advisors LLC boosted its stake in Citizens Financial Group by 37.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank’s stock worth $292,000 after purchasing an additional 1,957 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Citizens Financial Group by 12.0% during the 1st quarter. IFM Investors Pty Ltd now owns 107,788 shares of the bank’s stock worth $4,427,000 after purchasing an additional 11,521 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Citizens Financial Group during the 1st quarter worth $46,000. World Investment Advisors acquired a new stake in Citizens Financial Group during the 1st quarter worth $410,000. Finally, Envestnet Asset Management Inc. boosted its stake in Citizens Financial Group by 4.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 621,321 shares of the bank’s stock worth $25,456,000 after purchasing an additional 26,738 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on CFG shares. Stephens reiterated an “overweight” rating and set a $60.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Barclays lifted their price target on Citizens Financial Group from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 16th. Truist Financial reduced their price target on Citizens Financial Group from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Friday, October 17th. UBS Group lifted their price target on Citizens Financial Group from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial set a $62.00 price target on Citizens Financial Group and gave the stock a “strong-buy” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus price target of $56.57.

Read Our Latest Report on Citizens Financial Group

Citizens Financial Group Stock Up 0.3%

Shares of CFG opened at $51.00 on Tuesday. The firm has a market cap of $22.00 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 0.54 and a beta of 0.82. Citizens Financial Group, Inc. has a 12-month low of $32.60 and a 12-month high of $55.24. The company’s 50-day moving average price is $51.85 and its 200 day moving average price is $46.50. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.44.

Citizens Financial Group (NYSE:CFG – Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The bank reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.10 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. Citizens Financial Group’s revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts forecast that Citizens Financial Group, Inc. will post 3.92 earnings per share for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Investors of record on Wednesday, October 29th will be issued a $0.46 dividend. This is an increase from Citizens Financial Group’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, October 29th. This represents a $1.84 annualized dividend and a yield of 3.6%. Citizens Financial Group’s payout ratio is presently 51.54%.

Citizens Financial Group Profile

(Free Report)

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Further Reading

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