Citizens Financial Group, Inc. (NYSE:CFG) posted its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.64 by $0.04, Bloomberg Earnings reports. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. Citizens Financial Group’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS.
Citizens Financial Group (CFG) traded down 0.16% during trading on Friday, reaching $38.45. 2,464,713 shares of the company’s stock were exchanged. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 16.43 and a beta of 1.37. Citizens Financial Group has a 52 week low of $25.87 and a 52 week high of $39.75. The stock has a 50-day moving average price of $36.70 and a 200 day moving average price of $35.57.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, October 31st. Citizens Financial Group’s dividend payout ratio is presently 29.15%.
Several institutional investors and hedge funds have recently bought and sold shares of CFG. Sun Life Financial INC raised its stake in shares of Citizens Financial Group by 41,266.7% during the 2nd quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock worth $133,000 after purchasing an additional 3,714 shares in the last quarter. Smithfield Trust Co. raised its stake in shares of Citizens Financial Group by 1.4% during the 2nd quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after purchasing an additional 70 shares in the last quarter. Colony Group LLC purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $210,000. Courier Capital LLC purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $214,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Citizens Financial Group during the 2nd quarter worth about $215,000. 96.45% of the stock is owned by institutional investors.
Several research firms have weighed in on CFG. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Citizens Financial Group in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday. Barclays PLC boosted their target price on shares of Citizens Financial Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Bank of America Corporation reaffirmed an “underperform” rating and issued a $40.00 price objective (down from $41.00) on shares of Citizens Financial Group in a report on Monday, October 2nd. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $42.00 price objective (up from $38.00) on shares of Citizens Financial Group in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Citizens Financial Group currently has an average rating of “Hold” and a consensus target price of $38.60.
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About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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