FY2017 Earnings Estimate for Citizens Financial Group, Inc. (CFG) Issued By Oppenheimer Holdings
Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at Oppenheimer Holdings boosted their FY2017 earnings per share (EPS) estimates for shares of Citizens Financial Group in a report released on Monday. Oppenheimer Holdings analyst B. Chittenden now anticipates that the bank will post earnings of $2.59 per share for the year, up from their previous forecast of $2.57. Oppenheimer Holdings currently has a “Hold” rating on the stock.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, October 20th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Citizens Financial Group had a net margin of 20.26% and a return on equity of 6.44%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share.
Other equities research analysts also recently issued reports about the stock. TheStreet raised shares of Citizens Financial Group from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Tuesday, September 12th. Keefe, Bruyette & Woods set a $40.00 price target on shares of Citizens Financial Group and gave the stock a “buy” rating in a research note on Friday, August 11th. BidaskClub raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Barclays PLC boosted their price target on shares of Citizens Financial Group from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. Citizens Financial Group currently has an average rating of “Hold” and an average target price of $38.47.
Citizens Financial Group (NYSE CFG) opened at 38.37 on Wednesday. The company has a market capitalization of $19.21 billion, a PE ratio of 16.38 and a beta of 1.37. The stock has a 50 day moving average of $36.21 and a 200 day moving average of $35.50. Citizens Financial Group has a 12-month low of $25.50 and a 12-month high of $39.75.
Citizens Financial Group announced that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $850.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, October 31st. Citizens Financial Group’s dividend payout ratio is presently 29.15%.
Hedge funds have recently made changes to their positions in the company. Sun Life Financial INC raised its position in Citizens Financial Group by 41,266.7% during the second quarter. Sun Life Financial INC now owns 3,723 shares of the bank’s stock worth $133,000 after acquiring an additional 3,714 shares in the last quarter. Smithfield Trust Co. raised its position in Citizens Financial Group by 1.4% during the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock worth $178,000 after acquiring an additional 70 shares in the last quarter. Colony Group LLC bought a new stake in Citizens Financial Group during the second quarter worth $210,000. Courier Capital LLC bought a new stake in Citizens Financial Group during the second quarter worth $214,000. Finally, Quotient Investors LLC bought a new stake in Citizens Financial Group during the third quarter worth $227,000. 96.45% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Citizens Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.