Citizens Financial Group (NYSE:CFG) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Citizens Financial Group (NYSE:CFG - Get Free Report) announced its quarterly earnings data on Wednesday. The bank reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02, Zacks reports. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. Citizens Financial Group had a net margin of 12.21% and a return on equity of 6.75%.

Citizens Financial Group Stock Performance

Shares of CFG stock traded down $0.03 during trading on Friday, reaching $35.43. 4,654,883 shares of the company's stock were exchanged, compared to its average volume of 4,799,125. The firm's fifty day moving average price is $40.88 and its 200-day moving average price is $43.59. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $15.49 billion, a PE ratio of 11.69, a PEG ratio of 0.81 and a beta of 0.81. Citizens Financial Group has a twelve month low of $32.60 and a twelve month high of $49.25.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, April 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.74%. Citizens Financial Group's dividend payout ratio is currently 53.33%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CFG. DA Davidson reduced their price objective on shares of Citizens Financial Group from $53.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Citizens Financial Group from $54.00 to $43.00 and set an "equal weight" rating on the stock 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. Barclays reduced their price target on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday. Truist Financial decreased their price objective on shares of Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a report on Thursday. Finally, Royal Bank of Canada lowered their price target on Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating on the stock in a report on Thursday. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.22.

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.