Citizens Financial Group Inc (CFG) released its first quarter results on Friday, April 16, 2021. The company reported net earnings of $1.37 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 4793 percent compared to the same period a year ago.
Citizens Financial Group, Inc. was founded in 1828 and is headquartered in Providence, Rhode Island. Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
Citizens Financial Group's revenue decreased 2 percent over the past trailing twelve-month period versus the previous twelve-month period. Operating margins increased to 44.43% over the same period. Net earnings for past trailing twelve months were $1526.0 million, up 17% from the prior year.
Moving on to the balance sheet, Citizens Financial Group’s cash levels dropped nan% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 76.23% this past year. The current ratio for Citizens Financial Group now stands at 0.32. The company decreased share outstanding by 0.15%.
Shares of CFG are currently trading around $44.83. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 12.59 and price to book ratio of 0.93.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Monday, April 19, 2021.