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

Citizens Financial Group, Inc. (NYSE:CFG) declared a quarterly dividend on Friday, January 17th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, January 31st.

Citizens Financial Group has raised its dividend payment by an average of 2.5% annually over the last three years. Citizens Financial Group has a dividend payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

CFG opened at $47.52 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.94 billion, a P/E ratio of 18.71, a PEG 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 $42.66. Citizens Financial Group has a 12-month low of $30.24 and a 12-month high of $49.25.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, January 17th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping 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 $1,962,330 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. Citizens Financial Group’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities analysts predict that Citizens Financial Group will post 3.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on CFG. Truist Financial began coverage on shares of Citizens Financial Group in a research report on Tuesday, January 7th. They issued a “hold” rating and a $49.00 target price on the stock. Compass Point lifted their price objective on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. DA Davidson raised their price target on Citizens Financial Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price objective on Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Nine investment 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, Citizens Financial Group has an average rating of “Moderate Buy” and a consensus target price of $47.78.

Citizens Financial Group Company Profile

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.