Q2 2024 EPS Estimates for Citizens Financial Group, Inc. Boosted by Analyst (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at Wedbush boosted their Q2 2024 earnings per share estimates for Citizens Financial Group in a research note issued to investors on Wednesday, April 17th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.82 for the quarter, up from their previous estimate of $0.80. Wedbush has a “Neutral” rating and a $35.00 price objective on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Wedbush also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.86 EPS.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $1.00 EPS. Citizens Financial Group’s revenue was down 7.9% compared to the same quarter last year.

Other analysts have also issued reports about the company. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group increased their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. TheStreet raised Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Citigroup increased their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada increased their price target on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.93.

Citizens Financial Group Trading Up 3.3 %

Shares of CFG opened at $33.99 on Monday. The stock’s 50-day moving average is $33.33 and its two-hundred day moving average is $30.70. The stock has a market cap of $15.58 billion, a PE ratio of 12.32 and a beta of 1.38. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $36.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88.

Institutional Trading of Citizens Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kinneret Advisory LLC increased its holdings in shares of Citizens Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock valued at $603,000 after purchasing an additional 298 shares in the last quarter. Czech National Bank lifted its stake in shares of Citizens Financial Group by 0.5% in the 1st quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after purchasing an additional 375 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Citizens Financial Group by 1.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock valued at $707,000 after buying an additional 393 shares during the period. Wealthspire Advisors LLC boosted its holdings in Citizens Financial Group by 4.1% during the fourth quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock worth $367,000 after buying an additional 439 shares during the last quarter. Finally, Connable Office Inc. boosted its holdings in Citizens Financial Group by 2.6% during the fourth quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock worth $574,000 after buying an additional 443 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares in the company, valued at $1,471,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

About Citizens Financial Group

Citizens Financial Group, Inc operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, corporations, and institutions in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.