Citizens Financial Group (NYSE:CFG) Issues Earnings Results

Citizens Financial Group (NYSE:CFG – Get Rating) issued its quarterly earnings data on Tuesday. The bank reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02, MarketWatch Earnings reports. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Citizens Financial Group had a net margin of 33.19% and a return on equity of 11.32%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 earnings per share.

Shares of CFG stock traded up $3.12 during mid-day trading on Tuesday, reaching $44.35. 387,634 shares of the company’s stock traded hands, compared to its average volume of 6,137,273. Citizens Financial Group has a 12 month low of $39.56 and a 12 month high of $57.00. The firm has a 50 day moving average price of $48.24 and a two-hundred day moving average price of $49.15. The firm has a market capitalization of $18.72 billion, a PE ratio of 8.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.90.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 17th. Stockholders of record on Tuesday, May 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.52%. Citizens Financial Group’s dividend payout ratio is presently 30.23%.

A number of research analysts have commented on CFG shares. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Tuesday, March 29th. Morgan Stanley cut their target price on shares of Citizens Financial Group from $69.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, March 28th. Credit Suisse Group lifted their price objective on Citizens Financial Group from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, January 24th. StockNews.com started coverage on shares of Citizens Financial Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Citigroup cut Citizens Financial Group from a “buy” rating to a “neutral” rating in a research report on Monday, April 11th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.75.

Institutional investors and hedge funds have recently bought and sold shares of the business. Toroso Investments LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter valued at $216,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Citizens Financial Group in the fourth quarter worth about $257,000. Virtu Financial LLC purchased a new position in Citizens Financial Group during the 4th quarter valued at approximately $268,000. NEXT Financial Group Inc increased its stake in Citizens Financial Group by 181.3% in the 4th quarter. NEXT Financial Group Inc now owns 8,724 shares of the bank’s stock worth $413,000 after acquiring an additional 5,623 shares during the last quarter. Finally, Forum Financial Management LP bought a new stake in Citizens Financial Group in the fourth quarter worth $458,000. Institutional investors and hedge funds own 91.76% of the company’s stock.

About Citizens Financial Group (Get Rating)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

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