Citizens Financial Group (NYSE:CFG) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Citizens Financial Group (NYSE:CFG) posted its earnings results on Thursday. The bank reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05, Zacks reports. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%.

Citizens Financial Group Stock Up 1.2%

Citizens Financial Group stock opened at $71.16 on Thursday. The company’s 50-day moving average price is $66.04 and its two-hundred day moving average price is $63.43. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The stock has a market cap of $30.09 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 0.58 and a beta of 0.67. Citizens Financial Group has a 52 week low of $45.90 and a 52 week high of $72.94.

Insider Transactions at Citizens Financial Group

In other news, insider Michelle Moosally sold 6,050 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company’s stock, valued at $1,402,640.40. The trade was a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Sivia Capital Partners LLC grew its stake in Citizens Financial Group by 93.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,814 shares of the bank’s stock valued at $439,000 after buying an additional 4,739 shares during the last quarter. Quarry LP lifted its position in Citizens Financial Group by 598.6% during the 4th quarter. Quarry LP now owns 2,522 shares of the bank’s stock worth $147,000 after acquiring an additional 2,161 shares during the last quarter. Johnson Financial Group Inc. lifted its position in Citizens Financial Group by 18.3% during the 4th quarter. Johnson Financial Group Inc. now owns 2,347 shares of the bank’s stock worth $137,000 after acquiring an additional 363 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Citizens Financial Group by 7.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,122 shares of the bank’s stock valued at $182,000 after acquiring an additional 216 shares during the period. Finally, Zions Bancorporation National Association UT boosted its holdings in Citizens Financial Group by 44.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 1,428 shares of the bank’s stock valued at $83,000 after acquiring an additional 439 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CFG shares. Robert W. Baird reissued a “neutral” rating and issued a $72.00 price objective on shares of Citizens Financial Group in a research report on Monday, July 6th. DA Davidson upped their target price on Citizens Financial Group from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. increased their price objective on shares of Citizens Financial Group from $68.50 to $76.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Finally, Truist Financial increased their price target on shares of Citizens Financial Group from $69.00 to $72.00 and gave the stock a “hold” rating in a research report on Wednesday, June 24th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Citizens Financial Group currently has an average rating of “Moderate Buy” and a consensus target price of $74.60.

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.