Citizens Financial Group, Inc. Plans Quarterly Dividend of $0.42 (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) announced a quarterly dividend on Friday, January 17th,RTT News reports. Shareholders of record on Friday, January 31st will be given a dividend of 0.42 per share by the bank on Friday, February 14th. This represents a $1.68 annualized dividend and a yield of 3.54%.

Citizens Financial Group has raised its dividend by an average of 2.5% annually over the last three years. Citizens Financial Group has a dividend payout ratio of 34.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $3.85 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 43.6%.

Citizens Financial Group Stock Up 1.5 %

Shares of NYSE:CFG opened at $47.52 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group has a 52-week low of $30.24 and a 52-week high of $49.25. The firm has a market capitalization of $20.94 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.29 and a beta of 1.10. The stock has a 50 day moving average price of $45.64 and a 200-day moving average price of $42.62.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Friday, January 17th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1,962,330 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, equities research analysts anticipate that Citizens Financial Group will post 3.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CFG. Truist Financial started coverage on shares of Citizens Financial Group in a report on Tuesday, January 7th. They set a “hold” rating and a $49.00 target price for the company. Barclays boosted their target price on Citizens Financial Group from $47.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Piper Sandler upped their price target on shares of Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Citigroup increased their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Moderate Buy” and an average price target of $47.78.

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.