Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, National Association 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. The Consumer Banking segment offers deposit products, mortgage and home equity lending products, credit cards, business loans, wealth management, and investment services; and auto, education, and point-of-sale finance loans, as well as digital deposit products. This segment serves its customers through telephone service centers, as well as through its online and mobile platforms. The Commercial Banking segment provides various financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, and interest rate and commodity risk management solutions, as well as syndicated loans, corporate finance, mergers and acquisitions, and debt and equity capital markets services. This segment serves government banking, not-for-profit, healthcare, technology, professionals, oil and gas, asset finance, franchise finance, asset-based lending, commercial real estate, private equity, and sponsor finance industries. It operates approximately 1,200 branches in 14 states and the District of Columbia; 114 retail and commercial non-branch offices in national markets; and approximately 3,300 automated teller machines. The company was formerly known as RBS Citizens Financial Group, Inc. and changed its name to Citizens Financial Group, Inc. in April 2014. Citizens Financial Group, Inc. was founded in 1828 and is headquartered in Providence, Rhode Island.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Credit Suisse Group dropped their target price on Citizens Financial Group to $42.00 in a research report on Friday, July 22nd. Stephens reduced their target price on shares of Citizens Financial Group from $59.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, June 13th. Royal Bank of Canada decreased their target price on shares of Citizens Financial Group from $58.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 7th. Barclays cut their price target on Citizens Financial Group from $62.00 to $54.00 and set an "overweight" rating on the stock in a report on Wednesday, July 20th. Finally, Robert W. Baird reissued an "outperform" rating and issued a $58.00 price objective on shares of Citizens Financial Group in a report on Thursday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.33.
Citizens Financial Group Price Performance
Shares of NYSE:CFG traded up $0.23 during midday trading on Thursday, reaching $39.74. The company's stock had a trading volume of 2,993,654 shares, compared to its average volume of 5,620,193. Citizens Financial Group has a one year low of $34.35 and a one year high of $57.00. The company has a market cap of $19.70 billion, a price-to-earnings ratio of 10.00 and a beta of 1.41. The company has a 50 day moving average price of $36.92 and a 200 day moving average price of $42.47. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.
Citizens Financial Group (NYSE:CFG - Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The bank reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.35). Citizens Financial Group had a net margin of 25.04% and a return on equity of 10.26%. During the same period last year, the company posted $1.46 EPS. On average, equities research analysts expect that Citizens Financial Group will post 4.35 EPS for the current year.
Citizens Financial Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Tuesday, August 2nd were paid a $0.42 dividend. The ex-dividend date of this dividend was Monday, August 1st. This represents a $1.68 dividend on an annualized basis and a yield of 4.23%. This is a boost from Citizens Financial Group's previous quarterly dividend of $0.39. Citizens Financial Group's dividend payout ratio (DPR) is currently 42.53%.