Citizens Financial Group, Inc. (NYSE:CFG) – Stock analysts at Wedbush upped their FY2017 EPS estimates for shares of Citizens Financial Group in a research note issued on Sunday. Wedbush analyst P. Winter now expects that the bank will earn $2.60 per share for the year, up from their previous forecast of $2.56. Wedbush also issued estimates for Citizens Financial Group’s Q4 2017 earnings at $0.68 EPS.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.04. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. Citizens Financial Group’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS.

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CFG has been the topic of several other research reports. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Monday, September 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $39.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a report on Tuesday, July 25th. Deutsche Bank AG reissued a “hold” rating on shares of Citizens Financial Group in a research note on Wednesday, July 5th. Citigroup Inc. reissued a “neutral” rating and set a $42.00 price objective (up previously from $38.00) on shares of Citizens Financial Group in a research note on Monday, October 9th. Finally, BidaskClub raised shares of Citizens Financial Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $38.00.

Shares of Citizens Financial Group (NYSE CFG) opened at 38.50 on Tuesday. The firm has a market cap of $19.28 billion, a P/E ratio of 16.44 and a beta of 1.36. The firm has a 50-day moving average of $36.15 and a 200-day moving average of $35.48. Citizens Financial Group has a 12-month low of $25.50 and a 12-month high of $39.75.

Citizens Financial Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in shares. This buyback authorization authorizes the bank to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, October 31st. Citizens Financial Group’s dividend payout ratio (DPR) is 29.15%.

A number of hedge funds have recently modified their holdings of the stock. Oliver Luxxe Assets LLC increased its position in Citizens Financial Group by 2.7% during the third quarter. Oliver Luxxe Assets LLC now owns 108,384 shares of the bank’s stock worth $4,105,000 after purchasing an additional 2,879 shares during the last quarter. Nationwide Fund Advisors increased its position in Citizens Financial Group by 12.7% during the third quarter. Nationwide Fund Advisors now owns 481,230 shares of the bank’s stock worth $18,224,000 after purchasing an additional 54,205 shares during the last quarter. Reinhart Partners Inc. increased its position in Citizens Financial Group by 23.8% during the third quarter. Reinhart Partners Inc. now owns 692,280 shares of the bank’s stock worth $26,217,000 after purchasing an additional 133,055 shares during the last quarter. BB&T Corp increased its position in Citizens Financial Group by 12.5% during the third quarter. BB&T Corp now owns 177,824 shares of the bank’s stock worth $6,734,000 after purchasing an additional 19,758 shares during the last quarter. Finally, River & Mercantile Asset Management LLP increased its position in Citizens Financial Group by 6.3% during the third quarter. River & Mercantile Asset Management LLP now owns 253,701 shares of the bank’s stock worth $9,606,000 after purchasing an additional 15,000 shares during the last quarter. 96.45% of the stock is owned by hedge funds and other institutional investors.

About Citizens Financial Group

Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.

Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

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