Citizens Financial Group (NYSE:CFG) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Citizens Financial Group (NYSE:CFG) issued its quarterly earnings results on Friday. The bank reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02, Zacks reports. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%.

Citizens Financial Group Stock Performance

Shares of NYSE CFG opened at $63.44 on Friday. The business has a fifty day simple moving average of $68.21 and a 200 day simple moving average of $67.07. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $26.72 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.57 and a beta of 0.72. Citizens Financial Group has a one year low of $47.96 and a one year high of $75.33.

Analyst Ratings Changes

Several research firms have issued reports on CFG. Morgan Stanley decreased their price target on shares of Citizens Financial Group from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Monday, September 28th. Stephens upped their price objective on shares of Citizens Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Argus set a $80.00 price objective on shares of Citizens Financial Group in a research report on Wednesday, July 29th. Citigroup increased their target price on shares of Citizens Financial Group from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Robert W. Baird lifted their target price on Citizens Financial Group from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.08.

Insider Buying and Selling

In related news, CEO Bruce Van Saun sold 129,369 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $72.07, for a total value of $9,323,623.83. Following the completion of the transaction, the chief executive officer directly owned 1,140,763 shares of the company’s stock, valued at $82,214,789.41. This trade represents a 10.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.67% of the stock is currently owned by company insiders.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company’s consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.