Citizens Financial Group (NYSE:CFG) Issues Quarterly Earnings Results

Citizens Financial Group (NYSE:CFG - Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02, Zacks reports. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded down $1.21 during trading hours on Monday, reaching $34.24. 1,850,522 shares of the company's stock were exchanged, compared to its average volume of 4,775,074. The business has a fifty day moving average of $40.88 and a two-hundred day moving average of $43.63. The company has a market capitalization of $14.97 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a 1 year low of $32.60 and a 1 year high of $49.25.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.91%. Citizens Financial Group's payout ratio is currently 53.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CFG. The Goldman Sachs Group cut their price objective on shares of Citizens Financial Group from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday. Royal Bank of Canada dropped their target price on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a research note on Thursday. Citigroup lowered their price target on Citizens Financial Group from $58.00 to $51.00 and set a "buy" rating for the company in a report on Monday, March 24th. Raymond James restated a "strong-buy" rating and set a $48.00 price objective (down previously from $58.00) on shares of Citizens Financial Group in a report on Thursday. Finally, Morgan Stanley lowered their target price on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. The firm moved its midcap bank industry view from Attractive to In-line, saying “higher and faster than expected” tariffs raise recession risks, will weigh on loan growth and in-turn, forward earnings and multiples. The group is “cheap,” but weaker for longer loan growth and inverted yield curve limit upside catalysts. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.82.

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.