Citizens Financial Group, Inc. (NYSE:CFG) Plans $0.46 Quarterly Dividend

Citizens Financial Group, Inc. (NYSE:CFG) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Thursday, July 30th will be given a dividend of 0.46 per share by the bank on Thursday, August 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, July 30th.

Citizens Financial Group has increased its dividend payment by an average of 0.0%annually over the last three years. Citizens Financial Group has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Citizens Financial Group to earn $6.43 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 28.6%.

Citizens Financial Group Price Performance

Shares of NYSE:CFG opened at $74.28 on Friday. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.59 and a beta of 0.67. Citizens Financial Group has a 1 year low of $45.90 and a 1 year high of $74.70. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $66.25 and a 200 day simple moving average of $63.53.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Thursday, July 16th. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. Citizens Financial Group had a return on equity of 8.31% and a net margin of 16.21%.The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that Citizens Financial Group will post 5.22 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Michelle Moosally sold 6,050 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $62.16, for a total transaction of $376,068.00. Following the transaction, the insider owned 22,565 shares of the company’s stock, valued at approximately $1,402,640.40. This represents a 21.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC grew its holdings in Citizens Financial Group by 319.8% during the second quarter. Elevation Wealth Partners LLC now owns 424 shares of the bank’s stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Citizens Financial Group in the fourth quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Citizens Financial Group in the first quarter worth $27,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Citizens Financial Group during the 4th quarter worth $29,000. Finally, Activest Wealth Management boosted its holdings in shares of Citizens Financial Group by 5,600.0% during the 4th quarter. Activest Wealth Management now owns 513 shares of the bank’s stock worth $30,000 after buying an additional 504 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Citizens Financial Group Company Profile

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.