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

Citizens Financial Group, Inc. (NYSE:CFG - Get Free Report) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.42 per share by the bank on Wednesday, May 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.09%.

Citizens Financial Group has raised its dividend payment by an average of 2.5% annually over the last three years. Citizens Financial Group has a payout ratio of 41.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Citizens Financial Group to earn $4.02 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 41.8%.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock traded up $0.59 during trading on Wednesday, reaching $33.00. The company's stock had a trading volume of 6,680,464 shares, compared to its average volume of 5,906,741. The business's 50-day moving average price is $33.21 and its 200-day moving average price is $30.54. The firm has a market cap of $15.13 billion, a PE ratio of 10.42 and a beta of 1.38. Citizens Financial Group has a 52 week low of $22.77 and a 52 week high of $36.38. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.60.

Citizens Financial Group (NYSE:CFG - Get Free Report) last issued its earnings results on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.26). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. Citizens Financial Group's quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.25 earnings per share. Equities analysts forecast that Citizens Financial Group will post 3.23 earnings per share for the current year.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the transaction, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CFG. Raymond James Financial Services Advisors Inc. lifted its position in shares of Citizens Financial Group by 23.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank's stock valued at $478,000 after acquiring an additional 1,980 shares during the period. American Century Companies Inc. lifted its position in shares of Citizens Financial Group by 29.7% during the 1st quarter. American Century Companies Inc. now owns 53,879 shares of the bank's stock valued at $2,442,000 after acquiring an additional 12,350 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Citizens Financial Group by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank's stock valued at $2,585,000 after acquiring an additional 3,531 shares during the period. Yousif Capital Management LLC lifted its position in shares of Citizens Financial Group by 9.3% during the 1st quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank's stock valued at $3,229,000 after acquiring an additional 6,060 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Citizens Financial Group by 1.5% during the 1st quarter. Blair William & Co. IL now owns 38,619 shares of the bank's stock valued at $1,751,000 after acquiring an additional 586 shares during the period. Institutional investors and hedge funds own 94.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CFG shares. TheStreet upgraded shares of Citizens Financial Group from a "c+" rating to a "b-" rating in a research report on Tuesday, December 26th. Citigroup raised shares of Citizens Financial Group from a "neutral" rating to a "buy" rating and set a $36.00 price target on the stock in a report on Monday, February 5th. UBS Group lifted their price target on shares of Citizens Financial Group from $37.00 to $38.00 and gave the company a "buy" rating in a report on Thursday, January 18th. Jefferies Financial Group lifted their price target on shares of Citizens Financial Group from $35.00 to $36.00 and gave the company a "hold" rating in a report on Monday, April 8th. Finally, Wedbush reduced their target price on shares of Citizens Financial Group from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Citizens Financial Group presently has a consensus rating of "Hold" and an average target price of $35.88.

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.