Citizens Financial Group, Inc. (CFG) To Go Ex-Dividend on April 30th

Citizens Financial Group, Inc. (NYSE:CFG) declared a quarterly dividend on Wednesday, April 17th, RTT News reports. Shareholders of record on Wednesday, May 1st will be paid a dividend of 0.42 per share by the bank on Wednesday, May 15th. This represents a $1.68 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Tuesday, April 30th.

Citizens Financial Group has raised its dividend payment by an average of 2.5% per year over the last three years. Citizens Financial Group has a dividend payout ratio of 41.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $4.06 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 41.4%.

Citizens Financial Group Trading Up 0.4 %

Shares of CFG opened at $35.15 on Friday. The stock has a fifty day moving average price of $33.68 and a two-hundred day moving average price of $30.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $36.38. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 12.74 and a beta of 1.38.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. Analysts predict that Citizens Financial Group will post 3.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the sale, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CFG shares. Morgan Stanley lifted their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Keefe, Bruyette & Woods lifted their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Piper Sandler raised Citizens Financial Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $41.00 in a research note on Friday. Argus boosted their target price on Citizens Financial Group from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Hold” and a consensus price target of $37.13.

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.