Citizens Financial Group, Inc. (NYSE:CFG) – Oppenheimer Holdings lifted their FY2018 earnings estimates for Citizens Financial Group in a report issued on Monday. Oppenheimer Holdings analyst B. Chittenden now anticipates that the bank will post earnings per share of $2.87 for the year, up from their prior forecast of $2.82. Oppenheimer Holdings currently has a “Hold” rating on the stock.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings data on Friday, October 20th. The bank reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.04. The business 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%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS.

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A number of other research firms have also commented on CFG. Zacks Investment Research upgraded shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday. Deutsche Bank AG reaffirmed a “hold” rating and issued a $36.00 target price (up from $34.00) on shares of Citizens Financial Group in a research report on Tuesday, September 26th. BidaskClub raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Sanford C. Bernstein raised shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. Finally, TheStreet raised shares of Citizens Financial Group from a “c” rating to a “b-” rating in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.60.

Shares of Citizens Financial Group (CFG) traded up 1.486% during trading on Thursday, reaching $38.595. 2,936,166 shares of the company’s stock traded hands. Citizens Financial Group has a 52-week low of $25.50 and a 52-week high of $39.75. The company has a market cap of $19.32 billion, a price-to-earnings ratio of 16.480 and a beta of 1.37. The company’s 50-day moving average is $36.36 and its 200 day moving average is $35.52.

Institutional investors have recently made changes to their positions in the company. Sun Life Financial INC increased its stake in shares of 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 valued at $133,000 after buying an additional 3,714 shares during the period. Smithfield Trust Co. increased its stake in shares of Citizens Financial Group by 1.4% during the second quarter. Smithfield Trust Co. now owns 4,994 shares of the bank’s stock valued at $178,000 after buying an additional 70 shares during the period. Colony Group LLC purchased a new position in shares of Citizens Financial Group during the second quarter valued at $210,000. Courier Capital LLC purchased a new position in shares of Citizens Financial Group during the second quarter valued at $214,000. Finally, Eagle Global Advisors LLC purchased a new position in shares of Citizens Financial Group during the second quarter valued at $215,000. Hedge funds and other institutional investors own 96.45% of the company’s stock.

Citizens Financial Group declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $850.00 million in outstanding shares. This repurchase authorization authorizes the bank to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.89%. Citizens Financial Group’s dividend payout ratio is currently 29.15%.

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.

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

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