Citizens Financial Group (NYSE:CFG) Issues Earnings Results, Misses Estimates By $0.10 EPS

Citizens Financial Group (NYSE:CFG) posted its quarterly earnings results on Wednesday. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10), RTT News reports. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates 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 company posted $1.00 earnings per share.

Citizens Financial Group Trading Down 0.4 %

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

Citizens Financial Group Dividend Announcement

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

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now owns 43,885 shares in the company, valued at $1,471,902.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CFG. Raymond James Financial Services Advisors Inc. grew its stake in shares of Citizens Financial Group by 23.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank’s stock valued at $478,000 after buying an additional 1,980 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Citizens Financial Group by 29.7% during the first quarter. American Century Companies Inc. now owns 53,879 shares of the bank’s stock valued at $2,442,000 after buying an additional 12,350 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Citizens Financial Group by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank’s stock worth $2,585,000 after purchasing an additional 3,531 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Citizens Financial Group by 9.3% in the first quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank’s stock worth $3,229,000 after purchasing an additional 6,060 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Citizens Financial Group by 1.5% in the first quarter. Blair William & Co. IL now owns 38,619 shares of the bank’s stock worth $1,751,000 after purchasing an additional 586 shares during the last quarter. 94.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group increased their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Morgan Stanley increased their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Barclays lowered Citizens Financial Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $38.00 to $40.00 in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Royal Bank of Canada increased their price objective on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.88.

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.