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

Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Stockholders of record on Wednesday, April 30th will be paid a dividend of 0.42 per share by the bank on Wednesday, May 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Wednesday, April 30th.

Citizens Financial Group has increased its dividend by an average of 2.5% per year over the last three years. Citizens Financial Group has a dividend payout ratio of 33.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 3.4 %

NYSE:CFG traded down $1.21 during mid-day trading on Monday, hitting $34.24. 1,850,522 shares of the stock traded hands, compared to its average volume of 4,775,074. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.81 and a beta of 0.81. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $49.25. The firm's 50 day moving average is $40.88 and its two-hundred day moving average is $43.63.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The bank reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.02. Citizens Financial Group had a return on equity of 6.75% and a net margin of 12.21%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. On average, equities research analysts predict that Citizens Financial Group will post 3.92 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Citizens Financial Group from $49.00 to $45.00 and set a "market perform" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on Citizens Financial Group from $49.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Barclays reduced their price objective on Citizens Financial Group from $52.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday. Truist Financial lowered their target price on Citizens Financial Group from $51.00 to $43.00 and set a "hold" rating for the company in a report on Thursday. Finally, Piper Sandler cut their price target on Citizens Financial Group from $48.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and an average price target of $45.82.

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.