Q2 2024 EPS Estimates for Citizens Financial Group, Inc. (NYSE:CFG) Lifted by Analyst

Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at Wedbush boosted their Q2 2024 earnings per share estimates for Citizens Financial Group in a report released on Wednesday, April 17th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.82 per share for the quarter, up from their prior forecast of $0.80. Wedbush has a “Neutral” rating and a $35.00 price objective on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Wedbush also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.86 EPS.

Several other research firms have also recently weighed in on CFG. Morgan Stanley increased their price objective on Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Barclays lowered Citizens Financial Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $38.00 to $40.00 in a research note on Tuesday, January 2nd. UBS Group upped their target price on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Royal Bank of Canada upped their target price on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, Citigroup upped their target price on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Citizens Financial Group currently has an average rating of “Hold” and an average target price of $35.93.

Citizens Financial Group Stock Up 1.6 %

CFG opened at $34.55 on Monday. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $36.38. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 12.52 and a beta of 1.38. The business has a 50 day moving average of $33.37 and a 200-day moving average of $30.77.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data 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). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company posted $1.00 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.86%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the sale, the insider now directly owns 43,885 shares in the company, valued at $1,471,902.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after acquiring an additional 496 shares during the last quarter. Larson Financial Group LLC bought a new position in Citizens Financial Group in the fourth quarter valued at about $33,000. Quarry LP boosted its holdings in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after acquiring an additional 714 shares during the last quarter. Authentikos Wealth Advisory LLC bought a new position in Citizens Financial Group in the third quarter valued at about $40,000. Finally, CVA Family Office LLC bought a new position in Citizens Financial Group in the fourth quarter valued at about $40,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Company Profile

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.