Citizens Financial Group (NYSE:CFG) Posts Quarterly Earnings Results

Citizens Financial Group (NYSE:CFG - Get Free Report) issued its earnings results on Thursday. The bank reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04, Zacks reports. Citizens Financial Group had a net margin of 12.76% and a return on equity of 6.84%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 earnings per share.

Citizens Financial Group Stock Performance

Citizens Financial Group stock traded up $1.50 during trading hours on Thursday, hitting $48.47. The company had a trading volume of 3,241,093 shares, compared to its average volume of 4,844,184. The firm has a market cap of $21.19 billion, a PE ratio of 15.39, a PEG ratio of 0.80 and a beta of 0.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.85 and a quick ratio of 0.83. Citizens Financial Group has a one year low of $32.60 and a one year high of $49.25. The firm has a 50-day moving average of $42.67 and a 200 day moving average of $42.36.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Woodline Partners LP raised its holdings in Citizens Financial Group by 39.5% in the 1st quarter. Woodline Partners LP now owns 36,932 shares of the bank's stock valued at $1,513,000 after acquiring an additional 10,466 shares during the period. NewEdge Advisors LLC boosted its position in shares of Citizens Financial Group by 2.4% during the 1st quarter. NewEdge Advisors LLC now owns 11,531 shares of the bank's stock worth $472,000 after acquiring an additional 274 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Citizens Financial Group by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,838 shares of the bank's stock worth $362,000 after acquiring an additional 554 shares in the last quarter. 94.90% of the stock is owned by institutional investors.

Citizens Financial Group declared that its board has authorized a stock buyback plan on Friday, June 13th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on CFG. Wells Fargo & Company set a $57.00 target price on shares of Citizens Financial Group in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods raised shares of Citizens Financial Group from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a report on Wednesday, July 9th. UBS Group boosted their price target on shares of Citizens Financial Group from $50.00 to $53.00 and gave the company a "buy" rating in a report on Friday, May 30th. Royal Bank Of Canada decreased their price target on shares of Citizens Financial Group from $50.00 to $44.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Stephens reduced their target price on shares of Citizens Financial Group from $53.00 to $48.00 and set an "outperform" rating for the company in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.32.

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.

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