Bank of New York Mellon Corp Has $155.05 Million Holdings in Citizens Financial Group, Inc. (NYSE:CFG)

Bank of New York Mellon Corp raised its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 31.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,543,207 shares of the bank’s stock after acquiring an additional 839,041 shares during the quarter. Bank of New York Mellon Corp’s holdings in Citizens Financial Group were worth $155,051,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Costello Asset Management INC acquired a new position in Citizens Financial Group during the 3rd quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group during the 3rd quarter valued at about $27,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at approximately $28,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $28,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CFG. Barclays increased their price target on shares of Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Raymond James reiterated a “strong-buy” rating and issued a $58.00 price target (up from $55.00) on shares of Citizens Financial Group in a research report on Tuesday, January 21st. The Goldman Sachs Group increased their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Compass Point increased their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Stephens reiterated an “overweight” rating and issued a $53.00 price target on shares of Citizens Financial Group in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.00.

Citizens Financial Group Price Performance

Shares of CFG opened at $45.75 on Friday. The stock has a market capitalization of $20.00 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.81 and a beta of 1.10. Citizens Financial Group, Inc. has a twelve month low of $30.54 and a twelve month high of $49.25. The company has a 50 day moving average of $45.90 and a 200-day moving average of $44.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. As a group, equities research analysts forecast that Citizens Financial Group, Inc. will post 3.92 EPS for the current fiscal year.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 31st were paid a dividend of $0.42 per share. The ex-dividend date was Friday, January 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.67%. Citizens Financial Group’s dividend payout ratio is currently 55.45%.

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.