Citizens Financial Group, Inc. (NYSE:CFG) Plans $0.42 Quarterly Dividend

Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) declared a quarterly dividend on Friday, January 17th,RTT News reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.42 per share by the bank on Friday, February 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%.

Citizens Financial Group has raised its dividend payment by an average of 2.5% per year over the last three years. Citizens Financial Group has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 43.6%.

Citizens Financial Group Stock Up 1.5 %

CFG stock traded up $0.69 during trading on Friday, reaching $47.49. 4,371,192 shares of the company traded hands, compared to its average volume of 3,858,632. The business has a 50 day simple moving average of $45.59 and a 200 day simple moving average of $42.51. Citizens Financial Group has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1,962,330 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The company's quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts anticipate that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CFG shares. Compass Point lifted their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on Citizens Financial Group from $48.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Citigroup upped their target price on Citizens Financial Group from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Truist Financial began coverage on Citizens Financial Group in a report on Tuesday, January 7th. They issued a "hold" rating and a $49.00 price target for the company. Finally, StockNews.com upgraded Citizens Financial Group from a "sell" rating to a "hold" rating in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $47.78.

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.