Caisse DE Depot ET Placement DU Quebec Invests $6.16 Million in Citizens Financial Group, Inc. (NYSE:CFG)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 150,000 shares of the bank’s stock, valued at approximately $6,160,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Citizens Financial Group by 61.4% in the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock valued at $155,909,000 after buying an additional 1,682,886 shares during the period. Assenagon Asset Management S.A. lifted its position in Citizens Financial Group by 3,234.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,100,988 shares of the bank’s stock valued at $39,669,000 after acquiring an additional 1,067,971 shares in the last quarter. Bank of Montreal Can boosted its stake in Citizens Financial Group by 51.1% in the 3rd quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after purchasing an additional 894,322 shares during the period. BNP Paribas Financial Markets increased its holdings in Citizens Financial Group by 124.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,511,148 shares of the bank’s stock worth $62,063,000 after purchasing an additional 838,917 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Citizens Financial Group by 680.1% in the 2nd quarter. National Bank of Canada FI now owns 803,919 shares of the bank’s stock valued at $28,804,000 after purchasing an additional 700,860 shares during the period. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CFG has been the subject of several recent research reports. Royal Bank of Canada upped their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their price target on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup raised their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Evercore ISI decreased their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.47.

Citizens Financial Group Stock Down 2.2 %

CFG stock opened at $47.09 on Tuesday. Citizens Financial Group, Inc. has a 1-year low of $27.97 and a 1-year high of $49.25. The business’s 50 day simple moving average is $43.66 and its 200 day simple moving average is $40.34. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $20.75 billion, a PE ratio of 18.54, a PEG ratio of 1.83 and a beta of 1.07.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Citizens Financial Group Company Profile

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.