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

Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 150,000 shares of the bank’s stock, valued at approximately $6,160,000.

A number of other large investors have also modified their holdings of the company. Costello Asset Management INC bought a new stake in Citizens Financial Group in the 3rd quarter valued at $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Citizens Financial Group during the 3rd quarter valued at about $27,000. Catalyst Capital Advisors LLC bought a new stake in Citizens Financial Group in the third quarter valued at about $28,000. Innealta Capital LLC acquired a new position in Citizens Financial Group in the second quarter worth about $25,000. Finally, Versant Capital Management Inc lifted its stake in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock worth $34,000 after purchasing an additional 678 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Stock Down 2.2 %

Shares of NYSE CFG 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 firm has a market capitalization of $20.75 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.83 and a beta of 1.07. 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’s 50-day moving average is $43.66 and its 200-day moving average is $40.34.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business posted $0.85 EPS. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. Equities analysts expect that Citizens Financial Group, Inc. will post 3.2 EPS for the current year.

Citizens Financial Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Citigroup lifted their price objective on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Evercore ISI reduced their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.47.

Citizens Financial Group 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.