Indiana Trust & Investment Management Co Makes New Investment in Citizens Financial Group, Inc. $CFG

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

Other hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC acquired a new position in Citizens Financial Group in the first quarter valued at about $27,000. Elevation Wealth Partners LLC increased its holdings in shares of Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock worth $30,000 after buying an additional 323 shares in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Citizens Financial Group during the second quarter worth approximately $35,000. Keating Financial Advisory Services Inc. bought a new position in shares of Citizens Financial Group in the second quarter valued at approximately $35,000. Finally, Align Financial LLC bought a new position in shares of Citizens Financial Group in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Price Performance

Shares of CFG stock opened at $65.22 on Friday. Citizens Financial Group, Inc. has a 52-week low of $49.00 and a 52-week high of $75.33. The stock has a market cap of $27.47 billion, a PE ratio of 13.12, a PEG ratio of 0.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $67.30 and its two-hundred day moving average price is $67.22.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 16th. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Citizens Financial Group had a net margin of 18.07% and a return on equity of 9.52%. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, analysts forecast that Citizens Financial Group, Inc. will post 5.30 EPS for the current year.

Citizens Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a $0.52 dividend. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.46. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 37.02%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CFG. Citigroup reduced their target price on Citizens Financial Group from $84.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank Of Canada cut their price objective on Citizens Financial Group from $79.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday. Evercore reissued an “outperform” rating and issued a $78.00 price objective on shares of Citizens Financial Group in a research note on Thursday, October 1st. Jefferies Financial Group increased their target price on Citizens Financial Group from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Argus set a $80.00 target price on Citizens Financial Group in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.47.

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.