Citizens Financial Group (NYSE:CFG) Announces Earnings Results, Misses Estimates By $0.01 EPS

Citizens Financial Group (NYSE:CFG) released its quarterly earnings results on Wednesday. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01), RTT News reports. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year.

Citizens Financial Group Stock Up 3.4 %

NYSE:CFG opened at $40.93 on Thursday. Citizens Financial Group has a one year low of $22.77 and a one year high of $41.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $18.62 billion, a PE ratio of 14.83, a P/E/G ratio of 1.50 and a beta of 1.10. The firm’s 50 day simple moving average is $35.69 and its 200 day simple moving average is $34.16.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Buying and Selling at Citizens Financial Group

In related news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the sale, the insider now directly owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

CFG has been the subject of several research reports. Morgan Stanley lifted their price target on Citizens Financial Group from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday. Evercore ISI boosted their target price on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Jefferies Financial Group raised their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price target on shares of Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Argus raised their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group currently has a consensus rating of “Hold” and an average price target of $38.00.

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.