Citizens Financial Group (NYSE:CFG) Posts Quarterly Earnings Results, Hits Expectations

Citizens Financial Group (NYSE:CFG) released its quarterly earnings results on Wednesday. The bank reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79, Briefing.com reports. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 EPS.

Citizens Financial Group Trading Down 0.6 %

Citizens Financial Group stock opened at $42.14 on Friday. Citizens Financial Group has a one year low of $22.77 and a one year high of $44.39. The stock has a market cap of $19.17 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a 50-day moving average of $41.27 and a two-hundred day moving average of $38.00.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.99%. The ex-dividend date is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction that occurred on 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 directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CFG shares. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a research note on Monday, September 30th. Barclays increased their target price on Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday. UBS Group upped their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stephens boosted their price objective on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, The Goldman Sachs Group raised their target price on shares of Citizens Financial Group from $43.00 to $49.00 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Hold” and an average target price of $43.80.

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.