Citizens Financial Group (NYSE:CFG) Announces Earnings Results, Hits Estimates

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

Citizens Financial Group Stock Down 2.4 %

CFG opened at $42.42 on Thursday. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $44.39. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.60. The business’s 50-day moving average price is $41.22 and its 200-day moving average price is $37.97. The company has a market cap of $19.30 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.42 and a beta of 1.07.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.96%. Citizens Financial Group’s payout ratio is 60.87%.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the transaction, the insider now directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CFG has been the topic of a number of analyst reports. UBS Group boosted their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Royal Bank of Canada increased their price target on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com cut shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Jefferies Financial Group upped their target price on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, DA Davidson raised their price target on shares of Citizens Financial Group from $41.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.20.

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.