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

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

Citizens Financial Group Price Performance

CFG stock opened at $32.90 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 0.87. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The firm has a market cap of $15.08 billion, a P/E ratio of 11.92 and a beta of 1.38. The stock has a 50-day simple moving average of $33.28 and a 200-day simple moving average of $30.58.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders 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 dividend payout ratio (DPR) is currently 60.87%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Citigroup increased their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley increased their target price on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. StockNews.com downgraded Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, Evercore ISI raised their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Hold” and an average price target of $36.29.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction dated 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 sale, the insider now owns 43,885 shares in the company, valued at $1,471,902.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Hedge funds have recently bought and sold shares of the business. Groupama Asset Managment acquired a new stake in Citizens Financial Group during the 4th quarter valued at approximately $27,000. Resurgent Financial Advisors LLC acquired a new stake in Citizens Financial Group during the 4th quarter valued at approximately $28,000. Clear Street Markets LLC grew its stake in Citizens Financial Group by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after purchasing an additional 466 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Citizens Financial Group during the 4th quarter valued at approximately $42,000. Finally, Neo Ivy Capital Management acquired a new stake in Citizens Financial Group during the 2nd quarter valued at approximately $78,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.