Equities Analysts Issue Forecasts for Citizens Financial Group, Inc.’s FY2017 Earnings (CFG)
Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at Jefferies Group upped their FY2017 EPS estimates for Citizens Financial Group in a research report issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the bank will post earnings per share of $2.59 for the year, up from their prior forecast of $2.54. Jefferies Group also issued estimates for Citizens Financial Group’s Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $2.75 EPS and FY2019 earnings at $3.00 EPS.
A number of other equities analysts have also recently weighed in on CFG. TheStreet cut Citizens Financial Group from a “b-” rating to a “c” rating in a report on Monday, June 26th. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, July 4th. Deutsche Bank AG reissued a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. BidaskClub raised Citizens Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $39.00 price objective (up from $38.00) on shares of Citizens Financial Group in a report on Tuesday, July 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $38.00.
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Citizens Financial Group (NYSE CFG) opened at 38.50 on Tuesday. Citizens Financial Group has a 1-year low of $25.50 and a 1-year high of $39.75. The stock has a 50 day moving average price of $36.15 and a 200 day moving average price of $35.48. The firm has a market cap of $19.28 billion, a P/E ratio of 16.44 and a beta of 1.36.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. Citizens Financial Group had a return on equity of 6.44% and a net margin of 20.26%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp increased its stake in Citizens Financial Group by 4.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after purchasing an additional 47,855 shares during the period. Lazard Asset Management LLC increased its stake in Citizens Financial Group by 16,695.7% in the 2nd quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock worth $99,167,000 after purchasing an additional 2,762,808 shares during the period. Intrust Bank NA purchased a new position in Citizens Financial Group in the 2nd quarter worth approximately $267,000. Todd Asset Management LLC increased its stake in Citizens Financial Group by 33.4% in the 2nd quarter. Todd Asset Management LLC now owns 1,819,023 shares of the bank’s stock worth $64,903,000 after purchasing an additional 455,476 shares during the period. Finally, PICTET BANK & TRUST Ltd purchased a new position in Citizens Financial Group in the 2nd quarter worth approximately $1,629,000. 96.45% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.87%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 29.15%.
Citizens Financial Group declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $850.00 million in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Citizens Financial Group Company Profile
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.
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