OLD National Bancorp IN Grows Stock Position in Citizens Financial Group, Inc. (NYSE:CFG)

OLD National Bancorp IN raised its position in Citizens Financial Group, Inc. (NYSE:CFG) by 7.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,137 shares of the bank’s stock after purchasing an additional 838 shares during the quarter. OLD National Bancorp IN’s holdings in Citizens Financial Group were worth $437,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC grew its stake in shares of Citizens Financial Group by 3.9% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 8,046 shares of the bank’s stock worth $292,000 after purchasing an additional 305 shares in the last quarter. Czech National Bank increased its holdings in Citizens Financial Group by 0.5% in the first quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after buying an additional 375 shares in the last quarter. Texas Permanent School Fund Corp grew its position in shares of Citizens Financial Group by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 96,350 shares of the bank’s stock valued at $3,497,000 after purchasing an additional 382 shares during the last quarter. Bleakley Financial Group LLC grew its position in shares of Citizens Financial Group by 3.6% in the first quarter. Bleakley Financial Group LLC now owns 11,027 shares of the bank’s stock valued at $400,000 after purchasing an additional 385 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Citizens Financial Group by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after acquiring an additional 393 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price objective on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut their target price on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, DA Davidson upped their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.20.

Citizens Financial Group Stock Down 0.5 %

CFG traded down $0.18 during trading on Friday, reaching $39.59. The company had a trading volume of 3,250,322 shares, compared to its average volume of 5,535,355. The business’s fifty day moving average price is $37.48 and its 200 day moving average price is $35.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $18.01 billion, a P/E ratio of 14.34, a PEG ratio of 1.46 and a beta of 1.10. Citizens Financial Group, Inc. has a 12 month low of $22.77 and a 12 month high of $43.96.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. Citizens Financial Group’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.24%. Citizens Financial Group’s payout ratio is presently 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is currently owned by company insiders.

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.