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

Citizens Financial Group (NYSE:CFG) released its quarterly earnings data on Wednesday. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02, Zacks reports. The business had revenue of $1.94 billion during 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 Down 0.1 %

CFG stock opened at $35.43 on Friday. The stock’s 50 day simple moving average is $41.12 and its 200 day simple moving average is $43.62. The company has a market cap of $15.49 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.81 and a beta of 0.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 0.85. Citizens Financial Group has a fifty-two week low of $32.60 and a fifty-two week high of $49.25.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend 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 presently 53.33%.

Wall Street Analyst Weigh In

CFG has been the subject of a number of research reports. Raymond James reiterated a “strong-buy” rating and issued a $48.00 price target (down from $58.00) on shares of Citizens Financial Group in a research note on Thursday. Morgan Stanley cut their price target on 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. The Goldman Sachs Group lowered their price objective on Citizens Financial Group from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday. DA Davidson reduced their target price on shares of Citizens Financial Group from $53.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays dropped their price target on shares of Citizens Financial Group from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Citizens Financial Group presently has an average rating of “Moderate Buy” and a consensus target price 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.