Q3 2016 EPS Estimates for Citizens Financial Group Inc. Increased by Jefferies Group (CFG)
Citizens Financial Group Inc. (NYSE:CFG) – Analysts at Jefferies Group upped their Q3 2016 EPS estimates for Citizens Financial Group in a research report issued to clients and investors on Tuesday. Jefferies Group analyst K. Usdin now anticipates that the firm will post earnings per share of $0.54 for the quarter, up from their prior forecast of $0.53. Jefferies Group also issued estimates for Citizens Financial Group’s Q1 2017 earnings at $0.46 EPS, Q2 2017 earnings at $0.50 EPS, Q3 2017 earnings at $0.53 EPS and Q4 2017 earnings at $0.56 EPS.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The company earned $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Citizens Financial Group had a return on equity of 4.62% and a net margin of 16.72%. Citizens Financial Group’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS.
Several other research analysts have also weighed in on the company. Citigroup Inc. reaffirmed a “buy” rating on shares of Citizens Financial Group in a research report on Wednesday, June 29th. Credit Suisse Group AG increased their target price on Citizens Financial Group from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Zacks Investment Research raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Monday, July 25th. TheStreet raised Citizens Financial Group from a “hold” rating to a “buy” rating in a research report on Friday, September 23rd. Finally, Wedbush started coverage on Citizens Financial Group in a research report on Thursday, October 6th. They issued an “outperform” rating and a $29.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.46.
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Shares of Citizens Financial Group (NYSE:CFG) traded down 3.72% during mid-day trading on Thursday, reaching $24.31. The company’s stock had a trading volume of 2,207,639 shares. The firm has a 50-day moving average of $24.59 and a 200-day moving average of $22.70. Citizens Financial Group has a 52 week low of $18.04 and a 52 week high of $27.17. The firm has a market capitalization of $12.63 billion, a PE ratio of 14.39 and a beta of 1.19.
Several hedge funds have recently made changes to their positions in CFG. Mariner Wealth Advisors LLC increased its position in Citizens Financial Group by 0.5% in the first quarter. Mariner Wealth Advisors LLC now owns 10,377 shares of the company’s stock worth $217,000 after buying an additional 51 shares during the period. Baird Financial Group Inc. increased its position in Citizens Financial Group by 0.3% in the second quarter. Baird Financial Group Inc. now owns 53,580 shares of the company’s stock worth $1,071,000 after buying an additional 145 shares during the period. Pinnacle Holdings LLC increased its position in Citizens Financial Group by 1.3% in the second quarter. Pinnacle Holdings LLC now owns 18,705 shares of the company’s stock worth $374,000 after buying an additional 245 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Citizens Financial Group by 2.0% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,334 shares of the company’s stock worth $240,000 after buying an additional 259 shares during the period. Finally, Norinchukin Bank The increased its position in Citizens Financial Group by 4.9% in the second quarter. Norinchukin Bank The now owns 11,601 shares of the company’s stock worth $232,000 after buying an additional 545 shares during the period. Institutional investors own 95.72% of the company’s stock.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc is a retail bank holding company in the United States. The Company offers a range of retail and commercial banking products and services to individuals, institutions and companies. The Company operates in two segments: Consumer Banking and Commercial Banking. The Company’s Consumer Banking serves retail customers and small businesses.
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