Citizens Financial Group (CFG) Issues Quarterly Earnings Results

Citizens Financial Group (NYSE:CFG) released its quarterly earnings data on Friday. The bank reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02, Bloomberg Earnings reports. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. Citizens Financial Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS.

Shares of CFG opened at $41.98 on Friday. Citizens Financial Group has a 52 week low of $31.51 and a 52 week high of $48.23. The stock has a market capitalization of $20,457.90, a P/E ratio of 14.99, a P/E/G ratio of 0.70 and a beta of 1.41. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.59.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC boosted its holdings in Citizens Financial Group by 142.4% in the 4th quarter. Lazard Asset Management LLC now owns 9,027,728 shares of the bank’s stock valued at $378,984,000 after purchasing an additional 5,303,357 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Citizens Financial Group by 1.7% in the 4th quarter. TIAA CREF Investment Management LLC now owns 6,472,422 shares of the bank’s stock valued at $271,712,000 after purchasing an additional 108,354 shares during the period. Allianz Asset Management GmbH boosted its holdings in Citizens Financial Group by 165.0% in the 4th quarter. Allianz Asset Management GmbH now owns 4,630,564 shares of the bank’s stock valued at $194,390,000 after purchasing an additional 2,883,422 shares during the period. Teachers Advisors LLC boosted its holdings in Citizens Financial Group by 6.6% in the 4th quarter. Teachers Advisors LLC now owns 3,759,299 shares of the bank’s stock valued at $157,815,000 after purchasing an additional 232,942 shares during the period. Finally, LSV Asset Management boosted its holdings in Citizens Financial Group by 5.6% in the 4th quarter. LSV Asset Management now owns 3,419,848 shares of the bank’s stock valued at $143,565,000 after purchasing an additional 182,100 shares during the period. Institutional investors and hedge funds own 97.12% of the company’s stock.

Several research analysts have recently weighed in on the stock. Citigroup restated a “hold” rating on shares of Citizens Financial Group in a research note on Friday. Deutsche Bank upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, April 3rd. Zacks Investment Research lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. ValuEngine upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Sanford C. Bernstein set a $52.00 price objective on shares of Citizens Financial Group and gave the stock a “buy” rating in a research note on Monday, January 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.77.

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About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Earnings History for Citizens Financial Group (NYSE:CFG)

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