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.
Wall Street Analysts Forecast Growth
CFG has been the subject of a number of analyst reports. Robert W. Baird reiterated an "outperform" rating and set a $58.00 price target on shares of Citizens Financial Group in a research report on Thursday, April 21st. Credit Suisse Group reduced their price target on Citizens Financial Group to $42.00 in a report on Friday, July 22nd. Morgan Stanley decreased their target price on Citizens Financial Group from $53.00 to $51.00 and set an "overweight" rating for the company in a research report on Wednesday, July 20th. Royal Bank of Canada dropped their price objective on Citizens Financial Group from $58.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 7th. Finally, Stephens lowered their price target on Citizens Financial Group from $59.00 to $48.00 and set an "overweight" rating on the stock in a research note 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 company's stock. According to data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.33.
Citizens Financial Group Stock Performance
Shares of CFG Stock opened at $39.91 on Monday. The firm has a 50-day moving average of $36.97 and a 200-day moving average of $42.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.90 and a quick ratio of 0.88. 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 $19.78 billion, a P/E ratio of 10.10 and a beta of 1.41.
Citizens Financial Group (NYSE:CFG - Get Rating) last issued its earnings results on Tuesday, July 19th. The bank reported $0.67 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.35). Citizens Financial Group had a return on equity of 10.26% and a net margin of 25.04%. During the same period in the prior year, the company posted $1.46 earnings per share. Equities research analysts forecast that Citizens Financial Group will post 4.34 EPS for the current fiscal year.
Citizens Financial Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 16th. Shareholders of record on Tuesday, August 2nd will be issued a $0.42 dividend. The ex-dividend date is Monday, August 1st. 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 4.21%. Citizens Financial Group's dividend payout ratio is 42.53%.