Citizens Financial Group (NYSE:CFG) Posts Earnings Results, Misses Estimates By $0.10 EPS

Citizens Financial Group (NYSE:CFG) posted its quarterly earnings results on Wednesday. The bank reported $0.65 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the business earned $1.00 earnings per share. Citizens Financial Group’s revenue was down 7.9% on a year-over-year basis.

Citizens Financial Group Trading Up 1.8 %

CFG opened at $33.00 on Thursday. The business has a 50 day simple moving average of $33.25 and a two-hundred day simple moving average of $30.56. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 10.61 and a beta of 1.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. Citizens Financial Group has a one year low of $22.77 and a one year high of $36.38.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.09%. Citizens Financial Group’s payout ratio is 54.02%.

Analyst Ratings Changes

A number of research firms have recently commented on CFG. Evercore ISI raised their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. UBS Group raised their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Barclays cut Citizens Financial Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $38.00 to $40.00 in a research report on Tuesday, January 2nd. Finally, Jefferies Financial Group boosted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.88.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares of the company’s stock, valued at approximately $1,471,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CFG. Groupama Asset Managment purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $27,000. Resurgent Financial Advisors LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $28,000. Clear Street Markets LLC grew its holdings in shares of Citizens Financial Group by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock worth $29,000 after acquiring an additional 466 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Citizens Financial Group during the 4th quarter worth approximately $42,000. Finally, Neo Ivy Capital Management purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $78,000. Institutional investors own 94.90% of the company’s stock.

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.