Citizens Financial Group, Inc. (NYSE:CFG) to Issue $0.42 Quarterly Dividend

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 given 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 dividend yield of 3.60%.

Citizens Financial Group has raised its dividend payment by an average of 2.5% per year over the last three years. Citizens Financial Group has a payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Citizens Financial Group to earn $3.85 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 43.6%.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $46.73 on Friday. The firm’s 50 day moving average price is $45.59 and its 200-day moving average price is $42.51. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.59 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Citizens Financial Group has a twelve month low of $30.24 and a twelve month high of $49.25.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results 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. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. During the same period in the prior year, the firm earned $0.85 EPS. Equities research analysts expect that Citizens Financial Group will post 3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

CFG has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Raymond James upgraded Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, December 18th. Citigroup increased their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price target on shares of Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial started coverage on shares of Citizens Financial Group in a research note on Tuesday, January 7th. They issued a “hold” rating and a $49.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.78.

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.