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

Citizens Financial Group (NYSE:CFG) announced its earnings results on Friday. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02, Zacks reports. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%.

Citizens Financial Group Stock Up 1.4%

Shares of NYSE CFG opened at $63.44 on Friday. Citizens Financial Group has a one year low of $47.96 and a one year high of $75.33. The stock has a market capitalization of $26.72 billion, a P/E ratio of 13.76, a PEG ratio of 0.57 and a beta of 0.72. The firm’s 50 day simple moving average is $68.21 and its two-hundred day simple moving average is $67.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.85.

Insider Buying and Selling

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the sale, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CFG shares. DA Davidson reissued a “neutral” rating on shares of Citizens Financial Group in a report on Friday, August 14th. Cantor Fitzgerald dropped their price objective on shares of Citizens Financial Group from $84.00 to $78.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley cut their target price on shares of Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Monday, September 28th. Robert W. Baird increased their target price on Citizens Financial Group from $72.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Finally, Argus set a $80.00 target price on Citizens Financial Group in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Citizens Financial Group has an average rating of “Moderate Buy” and an average target price of $79.08.

About Citizens Financial Group

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.