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

Citizens Financial Group, Inc. (NYSE:CFG) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.42 per share by the bank on Wednesday, May 14th. This represents a $1.68 annualized dividend and a yield of 4.66%.

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 payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Citizens Financial Group to earn $4.99 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 33.7%.

Citizens Financial Group Trading Up 1.3 %

Shares of NYSE CFG opened at $36.06 on Wednesday. The firm has a market capitalization of $15.76 billion, a PE ratio of 11.90, a PEG ratio of 0.81 and a beta of 0.81. Citizens Financial Group has a one year low of $32.06 and a one year high of $49.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $41.61 and a two-hundred day moving average price of $43.71.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.96 billion. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. As a group, analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on CFG. Citigroup cut their target price on shares of Citizens Financial Group from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods raised their target price on Citizens Financial Group from $53.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of Citizens Financial Group from $49.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Barclays upped their price target on Citizens Financial Group from $47.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on Citizens Financial Group from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.06.

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.