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

Citizens Financial Group (NYSE:CFG) announced its quarterly earnings results on Friday. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02, Zacks reports. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1,962,330 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS.

Citizens Financial Group Stock Up 1.5 %

Shares of NYSE CFG opened at $47.52 on Friday. The firm’s 50 day moving average price is $45.64 and its 200 day moving average price is $42.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $20.94 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Citizens Financial Group has a 1 year low of $30.24 and a 1 year high of $49.25.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 31st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Friday, January 31st. Citizens Financial Group’s payout ratio is 66.14%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their price target on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. DA Davidson lifted their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI lowered their target price on Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Finally, Compass Point raised their price target on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Moderate Buy” and an average target price 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.