Citizens Financial Group, Inc. Forecasted to Earn FY2024 Earnings of $3.27 Per Share (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Stock analysts at DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a research note issued to investors on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $3.27 for the year, down from their previous estimate of $3.28. DA Davidson currently has a “Buy” rating and a $46.00 target price on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2025 earnings at $4.07 EPS.

CFG has been the subject of a number of other reports. Royal Bank of Canada raised their target price on shares of Citizens Financial Group from $35.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Raymond James assumed coverage on Citizens Financial Group in a research report on Thursday, July 11th. They set a “market perform” rating on the stock. Piper Sandler increased their price target on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley lifted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Stephens upped their price objective on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.07.

Citizens Financial Group Stock Performance

Shares of CFG opened at $41.17 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The firm’s 50 day moving average is $40.97 and its 200-day moving average is $37.63. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96. The stock has a market capitalization of $18.73 billion, a P/E ratio of 14.92, a P/E/G ratio of 1.43 and a beta of 1.07.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFG. Innealta Capital LLC acquired a new stake in Citizens Financial Group during the second quarter valued at approximately $25,000. Versant Capital Management Inc grew its position in Citizens Financial Group by 262.8% in the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares during the period. Private Ocean LLC lifted its holdings in shares of Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares during the period. Quarry LP boosted its stake in shares of Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after purchasing an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Citizens Financial Group in the 2nd quarter worth about $48,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares of the company’s stock, valued at $1,454,401.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s dividend payout ratio (DPR) is presently 60.87%.

Citizens Financial Group Company Profile

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.