Citizens Financial Group (NYSE:CFG) Posts Quarterly Earnings Results, Hits Expectations

Citizens Financial Group (NYSE:CFG) released its quarterly earnings data on Wednesday. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year.

Citizens Financial Group Price Performance

CFG stock opened at $42.14 on Friday. The company’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 PE ratio of 15.27, 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 current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $44.39.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 33,620 shares of the company’s stock, valued at $1,454,401.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

CFG has been the subject of several recent research reports. 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 report on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a “market perform” rating in a report on Monday, September 30th. UBS Group lifted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group lifted their price objective on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Hold” and a consensus target price of $43.80.

Citizens Financial Group Company Profile

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.