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

Key Points

• Citizens Financial Group reported quarterly EPS of $1.41, beating the consensus estimate of $1.39 by $0.02. The bank posted a 17.18% net margin and an 8.85% return on equity.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $79.08; targets range from $70 to $90.
• CEO Bruce Van Saun sold 129,369 shares for approximately $9.3 million, reducing his position by 10.19%; insiders own 0.67% of the company.

Citizens Financial Group (NYSE:CFG - Get Free Report) posted its earnings results on Friday. The bank reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02, Zacks reports. Citizens Financial Group had a net margin of 17.18% and a return on equity of 8.85%.

Citizens Financial Group Stock Up 1.4%

CFG opened at $63.44 on Friday. The company has a 50 day moving average of $68.21 and a 200 day moving average of $67.07. The company has a market cap of $26.72 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.57 and a beta of 0.72. Citizens Financial Group has a 12 month low of $47.96 and a 12 month high of $75.33. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CFG shares. Jefferies Financial Group lifted their price target on Citizens Financial Group from $85.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Raymond James Financial initiated coverage on shares of Citizens Financial Group in a research report on Tuesday, October 6th. They set a "strong-buy" rating and a $77.00 price target for the company. Stephens lifted their price target on shares of Citizens Financial Group from $68.00 to $70.00 and gave the stock an "equal weight" rating in a report on Friday, July 17th. UBS Group dropped their price objective on Citizens Financial Group from $82.00 to $77.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. Finally, Argus set a $80.00 price objective on Citizens Financial Group in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.08.

Insider Transactions at Citizens Financial Group

In other Citizens Financial Group news, CEO Bruce Van Saun sold 129,369 shares of the business's stock in a transaction on Friday, July 24th. The shares were sold at an average price of $72.07, for a total transaction of $9,323,623.83. Following the sale, the chief executive officer owned 1,140,763 shares of the company's stock, valued at $82,214,789.41. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.67% of the stock is owned by insiders.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc is a bank holding company headquartered in Providence, Rhode Island. Its principal subsidiary, Citizens Bank, provides banking and financial services to individuals, families, businesses and institutions through branches, digital channels and other delivery platforms.

The company's consumer banking activities include checking and savings accounts, residential mortgages, home equity lending, credit cards, personal loans and other lending products. Through its commercial banking operations, Citizens provides business loans, commercial real estate financing, treasury management, capital markets services and other solutions for companies and institutional clients.

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