Citizens Financial Group, Inc. (NYSE:CFG) Declares Quarterly Dividend of $0.42

Citizens Financial Group, Inc. (NYSE:CFG) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Stockholders of record on Wednesday, July 31st will be given a dividend of 0.42 per share by the bank on Wednesday, August 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Wednesday, July 31st.

Citizens Financial Group has increased its dividend by an average of 2.5% annually over the last three years. Citizens Financial Group has a payout ratio of 42.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Citizens Financial Group to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 42.5%.

Citizens Financial Group Price Performance

NYSE CFG opened at $43.00 on Tuesday. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $43.96. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.55 and a beta of 1.10. The company’s 50 day moving average is $36.61 and its two-hundred day moving average is $34.68. 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 (NYSE:CFG) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period last year, the business earned $0.92 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Citizens Financial Group will post 3.24 earnings per share for the current year.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods lifted their price objective on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Evercore ISI lifted their price objective on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Royal Bank of Canada lifted their price objective on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, DA Davidson lifted their price objective on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.60.

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 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 transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is currently owned by corporate insiders.

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.