What is Zacks Research’s Forecast for CFG FY2024 Earnings?

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Citizens Financial Group in a note issued to investors on Thursday, January 2nd. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $3.21 per share for the year, up from their previous estimate of $3.20. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Citizens Financial Group’s Q4 2024 earnings at $0.81 EPS, Q2 2025 earnings at $0.93 EPS, FY2025 earnings at $3.85 EPS, Q1 2026 earnings at $1.11 EPS, Q2 2026 earnings at $1.19 EPS, Q3 2026 earnings at $1.19 EPS and FY2026 earnings at $4.68 EPS.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lifted their price objective on Citizens Financial Group from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Raymond James raised shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price target on Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.71.

Citizens Financial Group Trading Up 0.6 %

NYSE CFG opened at $44.82 on Monday. The company has a 50-day moving average of $45.32 and a 200-day moving average of $42.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group has a 12 month low of $30.24 and a 12 month high of $49.25. The company has a market cap of $19.75 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.76 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.75%. Citizens Financial Group’s dividend payout ratio is currently 66.14%.

Institutional Trading of Citizens Financial Group

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Citizens Financial Group by 207.2% in the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank’s stock worth $339,733,000 after buying an additional 5,579,313 shares during the period. AQR Capital Management LLC grew its stake in shares of Citizens Financial Group by 61.4% in the second quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank’s stock worth $155,909,000 after purchasing an additional 1,682,886 shares in the last quarter. State Street Corp grew its stake in shares of Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank’s stock worth $1,060,689,000 after purchasing an additional 1,615,144 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Citizens Financial Group by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank’s stock worth $83,933,000 after purchasing an additional 942,662 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in Citizens Financial Group by 51.1% in the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank’s stock worth $107,897,000 after purchasing an additional 894,322 shares during the period. Institutional investors own 94.90% of the company’s stock.

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.