OLD National Bancorp IN Boosts Stock Position in Citizens Financial Group, Inc. $CFG

OLD National Bancorp IN boosted its holdings in shares of Citizens Financial Group, Inc. (NYSE:CFG) by 81.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 299,733 shares of the bank’s stock after purchasing an additional 134,577 shares during the quarter. OLD National Bancorp IN’s holdings in Citizens Financial Group were worth $17,975,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in Citizens Financial Group by 2.9% during the 4th quarter. Parallel Advisors LLC now owns 6,078 shares of the bank’s stock valued at $355,000 after acquiring an additional 172 shares during the last quarter. AA Financial Advisors LLC grew its holdings in Citizens Financial Group by 3.9% during the 4th quarter. AA Financial Advisors LLC now owns 4,657 shares of the bank’s stock worth $272,000 after acquiring an additional 174 shares in the last quarter. Inscription Capital LLC increased its position in shares of Citizens Financial Group by 1.6% in the 4th quarter. Inscription Capital LLC now owns 10,902 shares of the bank’s stock worth $637,000 after purchasing an additional 175 shares during the last quarter. Clear Harbor Asset Management LLC increased its position in shares of Citizens Financial Group by 0.9% in the 4th quarter. Clear Harbor Asset Management LLC now owns 19,694 shares of the bank’s stock worth $1,150,000 after purchasing an additional 175 shares during the last quarter. Finally, Grove Bank & Trust raised its stake in shares of Citizens Financial Group by 19.8% in the 4th quarter. Grove Bank & Trust now owns 1,107 shares of the bank’s stock valued at $65,000 after purchasing an additional 183 shares in the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Michelle Moosally sold 6,050 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total value of $376,068.00. Following the sale, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This trade represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

CFG has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Citizens Financial Group from $68.00 to $68.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Citizens Financial Group in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Truist Financial increased their target price on Citizens Financial Group from $69.00 to $72.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Robert W. Baird upgraded Citizens Financial Group from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Monday, March 9th. Eighteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.36.

Citizens Financial Group Trading Up 1.5%

NYSE CFG opened at $70.51 on Friday. Citizens Financial Group, Inc. has a one year low of $43.33 and a one year high of $71.21. The company has a 50-day simple moving average of $64.43 and a 200-day simple moving average of $62.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.85. The firm has a market capitalization of $29.82 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.55 and a beta of 0.68.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.03. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. Citizens Financial Group’s quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Citizens Financial Group, Inc. will post 5.2 earnings per share for the current year.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, April 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. Citizens Financial Group’s dividend payout ratio is 43.50%.

Citizens Financial Group Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.