Analysts Set Expectations for Citizens Financial Group, Inc.’s Q2 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for Citizens Financial Group in a note issued to investors on Thursday, April 18th. DA Davidson analyst P. Winter anticipates that the bank will earn $0.79 per share for the quarter. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2025 earnings at $4.09 EPS.

CFG has been the topic of several other research reports. Wedbush reduced their price target on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Evercore ISI raised their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Morgan Stanley raised their price target on shares of Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Citigroup raised their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.93.

Citizens Financial Group Trading Up 3.3 %

CFG stock opened at $33.99 on Friday. The company has a market capitalization of $15.58 billion, a PE ratio of 12.32 and a beta of 1.38. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $36.38. The firm’s 50-day moving average is $33.33 and its 200 day moving average is $30.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company’s revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the sale, the insider now directly owns 43,885 shares in the company, valued at approximately $1,471,902.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

A number of institutional investors have recently modified their holdings of CFG. Raymond James Financial Services Advisors Inc. boosted its stake in Citizens Financial Group by 23.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank’s stock worth $478,000 after purchasing an additional 1,980 shares in the last quarter. American Century Companies Inc. boosted its stake in Citizens Financial Group by 29.7% in the 1st quarter. American Century Companies Inc. now owns 53,879 shares of the bank’s stock worth $2,442,000 after purchasing an additional 12,350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Citizens Financial Group by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank’s stock worth $2,585,000 after purchasing an additional 3,531 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Citizens Financial Group by 9.3% in the 1st quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank’s stock worth $3,229,000 after purchasing an additional 6,060 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Citizens Financial Group by 1.5% in the 1st quarter. Blair William & Co. IL now owns 38,619 shares of the bank’s stock worth $1,751,000 after purchasing an additional 586 shares in the last quarter. 94.90% of the stock is currently owned by institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company 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.