Zacks Research Equities Analysts Raise Earnings Estimates for Citizens Financial Group, Inc. (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Investment analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a report released on Wednesday, September 25th. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $3.14 per share for the year, up from their prior forecast of $2.96. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Zacks Research also issued estimates for Citizens Financial Group’s Q2 2025 earnings at $0.90 EPS, FY2025 earnings at $3.74 EPS, Q2 2026 earnings at $1.13 EPS and FY2026 earnings at $4.43 EPS.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Piper Sandler boosted their price target on Citizens Financial Group from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. DA Davidson boosted their target price on shares of Citizens Financial Group from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Raymond James initiated coverage on shares of Citizens Financial Group in a report on Thursday, July 11th. They issued a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group has a consensus rating of “Hold” and a consensus target price of $42.20.

Citizens Financial Group Trading Up 0.7 %

NYSE:CFG opened at $40.51 on Friday. The firm has a 50-day simple moving average of $41.18 and a 200-day simple moving average of $37.28. Citizens Financial Group has a one year low of $22.77 and a one year high of $43.96. The firm has a market cap of $18.43 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87.

Hedge Funds Weigh In On Citizens Financial Group

A number of institutional investors have recently modified their holdings of CFG. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Citizens Financial Group by 2,109.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 386,634 shares of the bank’s stock worth $13,930,000 after acquiring an additional 369,134 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Citizens Financial Group during the 2nd quarter worth approximately $1,429,000. Cetera Investment Advisers grew its stake in shares of Citizens Financial Group by 4.7% during the 2nd quarter. Cetera Investment Advisers now owns 134,855 shares of the bank’s stock worth $4,859,000 after purchasing an additional 6,003 shares during the period. Brandes Investment Partners LP increased its holdings in shares of Citizens Financial Group by 35.8% during the 2nd quarter. Brandes Investment Partners LP now owns 30,623 shares of the bank’s stock valued at $1,103,000 after purchasing an additional 8,078 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Citizens Financial Group by 200.1% in the 2nd quarter. Quarry LP now owns 2,035 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,357 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of Citizens Financial Group stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares in the company, valued at approximately $1,454,401.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st were given a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 dividend on an annualized basis and a yield of 4.15%. Citizens Financial Group’s dividend payout ratio 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.