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

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

Citizens Financial Group Stock Up 0.3 %

CFG traded up $0.12 on Friday, reaching $42.25. The company’s stock had a trading volume of 1,058,609 shares, compared to its average volume of 5,365,816. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.07. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $44.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The business’s 50 day moving average is $41.27 and its 200 day moving average is $38.00.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors 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 3.98%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Activity at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the 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 transaction, the insider now owns 33,620 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CFG shares. Morgan Stanley increased their target price on Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Evercore ISI decreased their price objective on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler increased their target price on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, September 30th. Finally, DA Davidson increased their target price on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company 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.