Citizens Financial Group (NYSE:CFG) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Citizens Financial Group (NYSE:CFG) issued its quarterly earnings results on Friday. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02, Zacks reports. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. During the same quarter in the previous year, the company posted $0.85 earnings per share.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $46.73 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $20.59 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The firm has a 50-day moving average price of $45.59 and a two-hundred day moving average price of $42.51. Citizens Financial Group has a twelve month low of $30.24 and a twelve month high of $49.25.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.60%. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CFG. Royal Bank of Canada increased their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup lifted their target price on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Compass Point upped their price objective on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Raymond James upgraded shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research note on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

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.