Citizens Financial Group Inc (cfg) Plans $0.14 Quarterly Dividend
Citizens Financial Group Inc (NYSE:cfg) declared a quarterly dividend on Thursday, April 20th. Investors of record on Wednesday, May 3rd will be paid a dividend of 0.14 per share by the bank on Wednesday, May 17th. This represents a $0.56 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, May 1st.
Citizens Financial Group has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Citizens Financial Group to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 20.7%.
Citizens Financial Group (NYSE:CFG) traded down 0.79% on Friday, hitting $34.99. The company’s stock had a trading volume of 5,183,426 shares. The firm has a 50 day moving average of $35.56 and a 200 day moving average of $33.46. Citizens Financial Group has a 12 month low of $18.34 and a 12 month high of $39.75. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 17.76 and a beta of 1.36.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, April 20th. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Citizens Financial Group had a net margin of 18.13% and a return on equity of 5.19%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. Equities research analysts forecast that Citizens Financial Group will post $2.30 earnings per share for the current fiscal year.
Several equities analysts have issued reports on CFG shares. Zacks Investment Research lowered shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 1st. Keefe, Bruyette & Woods set a $40.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a research note on Tuesday, April 4th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Citizens Financial Group in a research note on Sunday, January 22nd. Citigroup Inc reiterated a “hold” rating on shares of Citizens Financial Group in a research note on Sunday, January 22nd. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $38.00 price objective (down from $40.00) on shares of Citizens Financial Group in a research note on Wednesday, April 12th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Citizens Financial Group presently has a consensus rating of “Hold” and an average price target of $33.45.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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