Citizens Financial Group (NYSE:CFG) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Citizens Financial Group reported quarterly EPS of $1.30, beating Wall Street expectations by $0.05.
• The stock rose about 1.2% after the earnings release, and it was trading near $71.16 with a 52-week high of $72.94.
• Analysts remain broadly positive on the bank, with a consensus rating of Moderate Buy and an average price target of $74.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.05, Zacks reports. Citizens Financial Group had a net margin of 16.21% and a return on equity of 8.31%.

Citizens Financial Group Stock Up 1.2%

CFG opened at $71.16 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.51. The firm has a market cap of $30.09 billion, a P/E ratio of 16.82, a PEG ratio of 0.58 and a beta of 0.67. Citizens Financial Group has a 52 week low of $45.90 and a 52 week high of $72.94. The business's fifty day simple moving average is $66.04 and its 200 day simple moving average is $63.43.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Michelle Moosally sold 6,050 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $62.16, for a total value of $376,068.00. Following the transaction, the insider directly owned 22,565 shares in the company, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Morgan Stanley increased its stake in Citizens Financial Group by 2.7% in the fourth quarter. Morgan Stanley now owns 11,217,975 shares of the bank's stock valued at $655,242,000 after purchasing an additional 298,779 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Citizens Financial Group by 56.9% during the 4th quarter. AQR Capital Management LLC now owns 7,722,559 shares of the bank's stock valued at $451,075,000 after acquiring an additional 2,799,050 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Citizens Financial Group by 2.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,738,287 shares of the bank's stock worth $251,887,000 after acquiring an additional 99,684 shares during the period. Amundi boosted its position in shares of Citizens Financial Group by 136.4% in the fourth quarter. Amundi now owns 3,513,388 shares of the bank's stock worth $205,217,000 after acquiring an additional 2,027,255 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Citizens Financial Group by 1.0% in the third quarter. Legal & General Group Plc now owns 2,821,237 shares of the bank's stock valued at $149,977,000 after purchasing an additional 27,882 shares during the period. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Citizens Financial Group from $68.50 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Cantor Fitzgerald upped their price target on shares of Citizens Financial Group from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada lifted their price target on shares of Citizens Financial Group from $67.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Evercore reissued an "outperform" rating and issued a $80.00 target price on shares of Citizens Financial Group in a report on Monday, July 6th. Finally, Stephens started coverage on Citizens Financial Group in a research report on Monday, June 15th. They issued an "equal weight" rating for the company. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.60.

About Citizens Financial Group

Citizens Financial Group, Inc NYSE: CFG is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.