Citizens Financial Group, Inc. (CFG) to Issue Quarterly Dividend of $0.42 on February 14th

Citizens Financial Group, Inc. (NYSE:CFG) announced a quarterly dividend on Friday, January 17th,RTT News reports. Shareholders of record on Friday, January 31st will be paid 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 yield of 3.55%. The ex-dividend date is Friday, January 31st.

Citizens Financial Group has increased its dividend payment by an average of 2.5% per year over the last three years. Citizens Financial Group has a payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $4.90 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 34.3%.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock opened at $47.36 on Wednesday. The firm has a market cap of $20.87 billion, a PE ratio of 15.63, a PEG ratio of 0.82 and a beta of 1.10. The stock has a 50 day moving average of $45.76 and a 200 day moving average of $43.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Citizens Financial Group has a 12 month low of $30.24 and a 12 month high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, January 17th. The bank reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. On average, research analysts expect that Citizens Financial Group will post 3.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CFG shares. DA Davidson raised their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Raymond James reaffirmed a “strong-buy” rating and issued a $58.00 price target (up previously from $55.00) on shares of Citizens Financial Group in a research note on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Truist Financial lifted their price target on shares of Citizens Financial Group from $49.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, January 21st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $49.00.

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.