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

Citizens Financial Group (NYSE:CFG) announced its earnings results on Wednesday. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02, FiscalAI reports. Citizens Financial Group had a net margin of 14.17% and a return on equity of 7.48%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion.

Citizens Financial Group Stock Down 1.8%

Shares of CFG opened at $59.73 on Wednesday. The company has a 50-day simple moving average of $57.13 and a 200-day simple moving average of $52.79. The firm has a market capitalization of $25.65 billion, a P/E ratio of 16.73, a P/E/G ratio of 0.53 and a beta of 0.72. Citizens Financial Group has a 52 week low of $32.60 and a 52 week high of $62.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.84 and a current ratio of 0.85.

Institutional Trading of Citizens Financial Group

Several large investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its position in shares of Citizens Financial Group by 47.2% during the third quarter. CIBC Private Wealth Group LLC now owns 5,374 shares of the bank’s stock worth $286,000 after acquiring an additional 1,723 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Citizens Financial Group in the third quarter worth about $3,168,000. Captrust Financial Advisors increased its position in Citizens Financial Group by 8.0% in the third quarter. Captrust Financial Advisors now owns 110,375 shares of the bank’s stock worth $5,868,000 after purchasing an additional 8,143 shares during the period. Coldstream Capital Management Inc. raised its holdings in Citizens Financial Group by 25.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 31,155 shares of the bank’s stock worth $1,656,000 after purchasing an additional 6,313 shares during the last quarter. Finally, Danske Bank A S bought a new stake in Citizens Financial Group during the 3rd quarter worth about $14,055,000. 94.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CFG. DA Davidson reissued a “buy” rating and issued a $59.00 price target on shares of Citizens Financial Group in a report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Citizens Financial Group in a research note on Monday, December 29th. Morgan Stanley raised shares of Citizens Financial Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $53.00 to $71.00 in a report on Monday, September 29th. Raymond James Financial lowered shares of Citizens Financial Group from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $62.00 to $66.00 in a research note on Wednesday, January 7th. Finally, Cowen reissued a “buy” rating on shares of Citizens Financial Group in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Citizens Financial Group presently has an average rating of “Moderate Buy” and an average price target of $60.33.

About Citizens Financial Group

Citizens Financial Group, Inc (NYSE: CFG) is a bank holding company that provides a broad range of banking and financial services to individuals, small and middle-market businesses, corporations and institutional clients. Headquartered in Providence, Rhode Island, Citizens conducts its banking operations principally through its primary banking subsidiary, Citizens Bank, and serves customers through a combination of branch locations, ATMs and digital channels. The company is publicly traded and operates under the regulatory framework applicable to U.S.