OLD National Bancorp IN Makes New $286,000 Investment in Citizens Financial Group, Inc. (NYSE:CFG)

OLD National Bancorp IN purchased a new stake in Citizens Financial Group, Inc. (NYSE:CFG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,632 shares of the bank’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. increased its stake in shares of Citizens Financial Group by 5.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,594,481 shares of the bank’s stock valued at $310,732,000 after purchasing an additional 621,715 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Citizens Financial Group by 217.5% in the 3rd quarter. Wellington Management Group LLP now owns 7,978,410 shares of the bank’s stock valued at $213,821,000 after purchasing an additional 5,465,824 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Citizens Financial Group by 6.4% in the 3rd quarter. Royal Bank of Canada now owns 5,532,398 shares of the bank’s stock valued at $148,268,000 after purchasing an additional 332,222 shares in the last quarter. Northern Trust Corp increased its stake in shares of Citizens Financial Group by 3.6% in the 3rd quarter. Northern Trust Corp now owns 4,825,592 shares of the bank’s stock valued at $129,326,000 after purchasing an additional 168,157 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Citizens Financial Group by 1,213.2% during the 3rd quarter. AQR Capital Management LLC now owns 3,746,064 shares of the bank’s stock worth $100,395,000 after buying an additional 3,460,792 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Trading Down 1.5 %

Shares of Citizens Financial Group stock opened at $34.99 on Friday. Citizens Financial Group, Inc. has a 12-month low of $22.77 and a 12-month high of $36.38. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market cap of $16.04 billion, a PE ratio of 12.68 and a beta of 1.38. The company has a 50-day moving average of $33.61 and a two-hundred day moving average of $30.89.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the business posted $1.00 earnings per share. The company’s quarterly revenue was down 7.9% on a year-over-year basis. On average, research analysts anticipate that Citizens Financial Group, Inc. will post 3.24 EPS for the current fiscal year.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.80%. Citizens Financial Group’s dividend payout ratio (DPR) is 60.87%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares of the company’s stock, valued at approximately $1,265,704.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CFG. Citigroup boosted their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Barclays lowered Citizens Financial Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $38.00 to $40.00 in a research note on Tuesday, January 2nd. UBS Group boosted their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Wedbush lowered their target price on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group currently has an average rating of “Hold” and an average price target of $36.13.

About Citizens Financial Group

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.