Citizens Financial Group, Inc. Plans Quarterly Dividend of $0.46 (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) declared a quarterly dividend on Wednesday, January 21st. Shareholders of record on Wednesday, February 4th will be given a dividend of 0.46 per share by the bank on Wednesday, February 18th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, February 4th.

Citizens Financial Group has raised its dividend payment by an average of 0.0%per year over the last three years. Citizens Financial Group has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $4.99 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 36.9%.

Citizens Financial Group Trading Up 7.0%

NYSE:CFG opened at $64.01 on Thursday. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $64.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85. The firm’s fifty day moving average is $57.35 and its 200-day moving average is $52.86. The firm has a market cap of $27.49 billion, a P/E ratio of 17.93, a P/E/G ratio of 0.52 and a beta of 0.72.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, January 21st. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. Citizens Financial Group’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. Equities analysts expect that Citizens Financial Group will post 3.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

CFG has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and set a $59.00 target price on shares of Citizens Financial Group in a research report on Thursday, October 16th. The Goldman Sachs Group restated a “buy” rating and set a $73.00 price target on shares of Citizens Financial Group in a report on Tuesday, January 6th. Morgan Stanley reiterated an “overweight” rating and issued a $73.00 price objective on shares of Citizens Financial Group in a research note on Thursday. Bank of America upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $65.00 in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.95.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.