Citizens Financial Group (NYSE:CFG) Announces Earnings Results

Citizens Financial Group (NYSE:CFG) posted its quarterly earnings data on Wednesday. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10), RTT News reports. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $32.90 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $36.38. The company’s 50-day moving average price is $33.28 and its 200-day moving average price is $30.58. The company has a market cap of $15.08 billion, a PE ratio of 11.92 and a beta of 1.38.

Citizens Financial Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a $0.42 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.11%. Citizens Financial Group’s payout ratio is currently 60.87%.

Insider Activity at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.62% of the stock is owned by insiders.

Institutional Trading of Citizens Financial Group

A number of institutional investors have recently bought and sold shares of CFG. Groupama Asset Managment purchased a new stake in shares of Citizens Financial Group in the fourth quarter valued at $27,000. Resurgent Financial Advisors LLC bought a new position in Citizens Financial Group during the 4th quarter valued at about $28,000. Clear Street Markets LLC raised its position in Citizens Financial Group by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock worth $29,000 after purchasing an additional 466 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Citizens Financial Group during the fourth quarter valued at approximately $42,000. Finally, Neo Ivy Capital Management bought a new position in shares of Citizens Financial Group during the second quarter valued at approximately $78,000. 94.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wedbush decreased their target price on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday. TheStreet upgraded shares of Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. StockNews.com downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Evercore ISI raised their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Barclays downgraded Citizens Financial Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $38.00 to $40.00 in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.29.

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.