Citizens Financial Group (NYSE:CFG) Posts Quarterly 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. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $40.93 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $35.69 and a 200-day moving average of $34.16. The firm has a market cap of $18.62 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.50 and a beta of 1.10. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $41.37.

Citizens Financial Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Sunday, May 5th. Argus increased their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Morgan Stanley increased their target price on Citizens Financial Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Finally, Wedbush reduced their target price on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $38.00.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $33.70, for a total transaction 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 SEC, which is accessible through the SEC website. 0.62% of the stock is currently owned by company insiders.

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.