Citizens Financial Group (NYSE:CFG) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Citizens Financial Group (NYSE:CFG) announced its quarterly earnings data on Thursday. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05, Zacks reports. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%.

Citizens Financial Group Stock Up 1.2%

CFG opened at $71.16 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The firm has a market cap of $30.09 billion, a P/E ratio of 16.82, a PEG ratio of 0.58 and a beta of 0.67. Citizens Financial Group has a 52 week low of $45.90 and a 52 week high of $72.94. The business’s fifty day simple moving average is $66.04 and its 200 day simple moving average is $63.43.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Morgan Stanley increased its stake in Citizens Financial Group by 2.7% in the fourth quarter. Morgan Stanley now owns 11,217,975 shares of the bank’s stock valued at $655,242,000 after purchasing an additional 298,779 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank’s stock valued at $451,075,000 after acquiring an additional 2,799,050 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Citizens Financial Group by 2.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,738,287 shares of the bank’s stock worth $251,887,000 after acquiring an additional 99,684 shares during the period. Amundi boosted its position in shares of Citizens Financial Group by 136.4% in the fourth quarter. Amundi now owns 3,513,388 shares of the bank’s stock worth $205,217,000 after acquiring an additional 2,027,255 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Citizens Financial Group by 1.0% in the third quarter. Legal & General Group Plc now owns 2,821,237 shares of the bank’s stock valued at $149,977,000 after purchasing an additional 27,882 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Citizens Financial Group from $68.50 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, July 6th. Cantor Fitzgerald upped their price target on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank Of Canada lifted their price target on shares of Citizens Financial Group from $67.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Evercore reissued an “outperform” rating and issued a $80.00 target price on shares of Citizens Financial Group in a report on Monday, July 6th. Finally, Stephens started coverage on Citizens Financial Group in a research report on Monday, June 15th. They issued an “equal weight” rating for the company. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.60.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.