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

Citizens Financial Group (NYSE:CFG) announced its 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. Citizens Financial Group had a return on equity of 7.40% and a net margin of 13.19%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Citizens Financial Group’s quarterly revenue was down 7.9% on a year-over-year basis.

Citizens Financial Group Stock Down 0.4 %

CFG stock opened at $32.90 on Friday. Citizens Financial Group has a one year low of $22.77 and a one year high of $36.38. The stock has a market capitalization of $15.08 billion, a PE ratio of 10.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. The company has a fifty day moving average of $33.28 and a 200-day moving average of $30.58.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 54.02%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction 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 sale, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

A number of large investors have recently made changes to their positions in CFG. Groupama Asset Managment purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $27,000. Resurgent Financial Advisors LLC purchased a new position in shares of Citizens Financial Group in the 4th quarter valued at about $28,000. Clear Street Markets LLC increased its holdings in Citizens Financial Group by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after acquiring an additional 466 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Citizens Financial Group during the 4th quarter valued at about $42,000. Finally, Neo Ivy Capital Management purchased a new position in Citizens Financial Group during the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CFG shares. Morgan Stanley upped their target price on shares of Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Citigroup raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Monday, February 5th. Jefferies Financial Group increased their price objective on shares of Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI increased their price objective on shares of 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 increased their price objective on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.88.

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.