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.
Citizens Financial Group Price Performance
NYSE:CFG traded down $0.77 during trading hours on Friday, reaching $38.97. The company's stock had a trading volume of 64,793 shares, compared to its average volume of 3,665,987. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 0.65. Citizens Financial Group has a 1 year low of $34.35 and a 1 year high of $57.00. The firm's 50-day moving average price is $36.93 and its 200-day moving average price is $42.39. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 9.87 and a beta of 1.41.
Citizens Financial Group (NYSE:CFG - Get Rating) last posted its quarterly earnings data on Tuesday, July 19th. The bank reported $0.67 earnings per share (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 in the previous year, the firm posted $1.46 EPS. On average, equities research analysts predict that Citizens Financial Group will post 4.35 EPS for the current fiscal year.
Citizens Financial Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Tuesday, August 2nd were given a dividend of $0.42 per share. This is a positive change from Citizens Financial Group's previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a yield of 4.31%. The ex-dividend date was Monday, August 1st. Citizens Financial Group's dividend payout ratio is currently 42.53%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on CFG shares. Credit Suisse Group reduced their target price on shares of Citizens Financial Group to $42.00 in a research report on Friday, July 22nd. Wedbush increased their price target on shares of Citizens Financial Group to $47.00 in a research note on Friday, July 22nd. Jefferies Financial Group dropped their price objective on shares of Citizens Financial Group from $46.00 to $40.00 and set a "hold" rating on the stock in a research report on Monday, July 11th. UBS Group raised shares of Citizens Financial Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $48.00 to $54.00 in a research report on Monday, May 16th. Finally, Stephens lowered their price target on shares of Citizens Financial Group from $59.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $48.33.