Citizens Financial Group, Inc. (NYSE:CFG) Declares $0.42 Quarterly Dividend

Citizens Financial Group, Inc. (NYSE:CFG) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Investors of record on Wednesday, October 30th will be given a dividend of 0.42 per share by the bank on Wednesday, November 13th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Wednesday, October 30th.

Citizens Financial Group has raised its dividend payment by an average of 2.5% annually over the last three years. Citizens Financial Group has a dividend payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 42.2%.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $41.51 on Monday. The business’s fifty day moving average price is $41.45 and its two-hundred day moving average price is $38.34. The stock has a market cap of $18.89 billion, a PE ratio of 15.04, 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. Citizens Financial Group has a one year low of $22.77 and a one year high of $44.39.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. Citizens Financial Group’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, analysts forecast that Citizens Financial Group will post 3.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CFG shares. Barclays increased their target price on Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stephens raised their price objective on Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. DA Davidson raised their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, UBS Group increased their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.80.

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.