Indiana Trust & Investment Management Co Buys 14,705 Shares of Citizens Financial Group, Inc. $CFG

Indiana Trust & Investment Management Co purchased a new position in shares of Citizens Financial Group, Inc. (NYSE:CFG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,705 shares of the bank’s stock, valued at approximately $938,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Citizens Financial Group during the second quarter worth about $3,415,046,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Citizens Financial Group by 7,979.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 12,165,352 shares of the bank’s stock worth $775,663,000 after acquiring an additional 12,014,785 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Citizens Financial Group by 1,252.4% in the third quarter. Assenagon Asset Management S.A. now owns 9,204,563 shares of the bank’s stock worth $586,883,000 after acquiring an additional 8,523,938 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Citizens Financial Group by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,719,160 shares of the bank’s stock worth $282,927,000 after purchasing an additional 28,602 shares during the period. Finally, Amundi raised its position in shares of Citizens Financial Group by 31.2% during the second quarter. Amundi now owns 3,685,819 shares of the bank’s stock worth $258,265,000 after purchasing an additional 875,666 shares during the period. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CFG shares. JPMorgan Chase & Co. decreased their price objective on Citizens Financial Group from $78.00 to $72.50 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Raymond James Financial restated a “strong-buy” rating on shares of Citizens Financial Group in a report on Friday, October 16th. Cantor Fitzgerald cut their price target on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. UBS Group lowered their price objective on shares of Citizens Financial Group from $82.00 to $77.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Finally, Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $89.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $77.47.

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $65.22 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $67.30 and a 200-day moving average of $67.22. The stock has a market capitalization of $27.47 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.59 and a beta of 0.72. Citizens Financial Group, Inc. has a fifty-two week low of $49.00 and a fifty-two week high of $75.33.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Friday, October 16th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Citizens Financial Group had a return on equity of 9.52% and a net margin of 18.07%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. As a group, sell-side analysts predict that Citizens Financial Group, Inc. will post 5.30 earnings per share for the current fiscal year.

Citizens Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a dividend of $0.52 per share. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group’s payout ratio is presently 37.02%.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to consumers, small businesses, middle-market companies, large corporations and institutional clients.

The company offers consumer deposit accounts, residential mortgages, home equity financing, credit cards, personal loans and other lending products. Its commercial banking activities include business loans, equipment financing, treasury management, capital markets services and investment banking.