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

Citizens Financial Group (NYSE:CFG) released its quarterly 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. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. Citizens Financial Group’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $33.99 on Friday. The company has a 50 day moving average price of $33.33 and a 200-day moving average price of $30.63. 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 fifty-two week low of $22.77 and a fifty-two week high of $36.38. The company has a market capitalization of $15.58 billion, a PE ratio of 12.32 and a beta of 1.38.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Activity

In related news, insider Craig Jack Read sold 4,508 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Large investors have recently bought and sold shares of the business. Resurgent Financial Advisors LLC bought a new position in Citizens Financial Group in the fourth quarter worth approximately $28,000. Groupama Asset Managment purchased a new position in Citizens Financial Group in the fourth quarter worth $27,000. Clear Street Markets LLC increased its position in shares of Citizens Financial Group by 93.6% during the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock worth $29,000 after purchasing an additional 466 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Citizens Financial Group during the fourth quarter worth $42,000. Finally, Covestor Ltd increased its position in shares of Citizens Financial Group by 62.6% during the first quarter. Covestor Ltd now owns 2,109 shares of the bank’s stock worth $96,000 after purchasing an additional 812 shares in the last quarter. Institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays cut Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Jefferies Financial Group raised their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 8th. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Evercore ISI raised their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and a consensus price target of $36.29.

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.