Citizens Financial Group (NYSE:CFG) Announces Quarterly Earnings Results

Citizens Financial Group (NYSE:CFG) posted its quarterly earnings data on Wednesday. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the firm earned $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 Performance

Shares of CFG stock opened at $42.14 on Friday. The firm’s 50 day moving average is $41.27 and its 200 day moving average is $38.00. The stock has a market capitalization of $19.17 billion, a P/E ratio of 15.27, a PEG ratio of 1.42 and a beta of 1.07. 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.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.99%. 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 the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

CFG has been the topic of several analyst reports. Raymond James began coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They set a “market perform” rating on the stock. Morgan Stanley boosted their target price on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. DA Davidson increased their price target on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group lifted their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada upped their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently 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.