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

Citizens Financial Group (NYSE:CFG) issued its quarterly earnings results on Wednesday. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10), RTT News reports. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The company’s revenue was down 7.9% on a year-over-year basis.

Citizens Financial Group Stock Down 0.4 %

Shares of CFG opened at $32.90 on Friday. The company has a market capitalization of $15.08 billion, a P/E ratio of 11.92 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 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. The business’s 50 day simple moving average is $33.28 and its 200-day simple moving average is $30.58.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio is currently 60.87%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the business’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 value of $151,198.32. Following the transaction, the insider now directly owns 43,885 shares of the company’s stock, valued at approximately $1,471,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Gilbert & Cook Inc. acquired a new position in Citizens Financial Group during the 4th quarter worth $214,000. B. Riley Wealth Advisors Inc. acquired a new position in Citizens Financial Group during the 3rd quarter worth $212,000. Atria Wealth Solutions Inc. acquired a new position in Citizens Financial Group during the 4th quarter worth $206,000. Brown Brothers Harriman & Co. lifted its stake in shares of Citizens Financial Group by 53.4% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,957 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,378 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Citizens Financial Group by 50.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,296 shares of the bank’s stock valued at $176,000 after purchasing an additional 1,766 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CFG. Wedbush lowered their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday. Citigroup boosted their price target on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI boosted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Jefferies Financial Group boosted their price target on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods boosted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.29.

Citizens Financial Group Company Profile

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.