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

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

Citizens Financial Group Price Performance

Shares of NYSE CFG opened at $42.42 on Thursday. The firm has a market cap of $19.30 billion, a P/E ratio of 15.37, a PEG ratio of 1.42 and a beta of 1.07. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $44.39. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $41.22 and a 200 day moving average of $37.97.

Citizens Financial Group Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on CFG. Royal Bank of Canada raised their price target on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday. Stephens lifted their target price on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Evercore ISI decreased their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating for the company in a research note on Wednesday, October 2nd. Piper Sandler lifted their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group increased their target price on Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.20.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

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.