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

Citizens Financial Group (NYSE:CFG) announced its quarterly earnings data on Wednesday. The bank reported $0.65 earnings per share (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 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 7.9% on a year-over-year basis.

Citizens Financial Group Trading Down 0.4 %

CFG stock opened at $32.90 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88. The company has a market capitalization of $15.08 billion, a PE ratio of 11.92 and a beta of 1.38. The firm’s 50-day moving average is $33.28 and its 200 day moving average is $30.58. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $36.38.

Citizens Financial Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CFG shares. Citigroup upped their target price on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods upped their target price on shares of 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. Morgan Stanley upped their target price on shares of Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. UBS Group increased their price objective on shares of Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Jefferies Financial Group increased their price objective on shares of Citizens Financial Group from $35.00 to $36.00 and gave the company 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’s stock. According to MarketBeat, Citizens Financial Group has an average rating of “Hold” and a consensus price target of $36.29.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total transaction of $151,198.32. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kinneret Advisory LLC increased its position in Citizens Financial Group by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock valued at $603,000 after purchasing an additional 298 shares during the period. Gladstone Institutional Advisory LLC boosted its holdings in shares of Citizens Financial Group by 5.6% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 8,393 shares of the bank’s stock valued at $255,000 after buying an additional 446 shares in the last quarter. Wetherby Asset Management Inc. boosted its holdings in shares of Citizens Financial Group by 6.4% in the 1st quarter. Wetherby Asset Management Inc. now owns 7,481 shares of the bank’s stock valued at $227,000 after buying an additional 448 shares in the last quarter. Clear Street Markets LLC boosted its holdings in shares of Citizens Financial Group by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after buying an additional 466 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co boosted its holdings in shares of Citizens Financial Group by 1.3% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 37,893 shares of the bank’s stock valued at $1,718,000 after buying an additional 489 shares in the last quarter. Hedge funds and other 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.