Citizens Financial Group Inc (NYSE:CFG) – Stock analysts at Wedbush reduced their Q2 2020 earnings per share estimates for Citizens Financial Group in a research report issued on Sunday, January 19th. Wedbush analyst P. Winter now anticipates that the bank will post earnings per share of $0.94 for the quarter, down from their previous estimate of $0.95. Wedbush also issued estimates for Citizens Financial Group’s Q4 2020 earnings at $1.05 EPS, Q1 2021 earnings at $0.97 EPS, Q2 2021 earnings at $1.03 EPS, Q3 2021 earnings at $1.07 EPS, Q4 2021 earnings at $1.10 EPS and FY2021 earnings at $4.17 EPS.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, January 17th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. Citizens Financial Group had a return on equity of 8.75% and a net margin of 22.20%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year.
Several other equities research analysts have also issued reports on CFG. Zacks Investment Research raised Citizens Financial Group from a “strong sell” rating to a “hold” rating and set a $30.00 target price for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on Citizens Financial Group from $42.00 to $39.50 and set an “overweight” rating for the company in a research report on Thursday, October 10th. ValuEngine lowered Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 10th. Morgan Stanley decreased their target price on Citizens Financial Group from $43.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Stephens increased their price target on Citizens Financial Group from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $40.72.
NYSE CFG opened at $40.87 on Tuesday. Citizens Financial Group has a 12 month low of $31.30 and a 12 month high of $41.29. The firm has a market capitalization of $17.77 billion, a P/E ratio of 10.70, a PEG ratio of 2.40 and a beta of 1.50. The business has a fifty day simple moving average of $39.94 and a 200 day simple moving average of $36.61. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68.
Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC boosted its position in shares of Citizens Financial Group by 1,805.9% during the second quarter. Jane Street Group LLC now owns 45,741 shares of the bank’s stock valued at $1,617,000 after purchasing an additional 43,341 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Citizens Financial Group by 13.7% during the third quarter. Stifel Financial Corp now owns 460,201 shares of the bank’s stock valued at $16,291,000 after purchasing an additional 55,308 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in shares of Citizens Financial Group by 63.6% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 30,013 shares of the bank’s stock valued at $1,057,000 after purchasing an additional 11,667 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in Citizens Financial Group by 7.4% in the third quarter. Pictet Asset Management Ltd. now owns 252,419 shares of the bank’s stock worth $8,928,000 after acquiring an additional 17,300 shares in the last quarter. Finally, Banco Santander S.A. boosted its holdings in Citizens Financial Group by 148.7% in the third quarter. Banco Santander S.A. now owns 21,615 shares of the bank’s stock worth $765,000 after acquiring an additional 12,924 shares in the last quarter. 95.98% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from Citizens Financial Group’s previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, January 28th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 37.50%.
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 provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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