FY2024 EPS Estimates for Citizens Financial Group, Inc. Reduced by Analyst (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for shares of 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 $3.27 for the year, down from their prior forecast of $3.35. Wedbush has a “Neutral” rating and a $35.00 price target on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.25 per share. Wedbush also issued estimates for Citizens Financial Group’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.90 EPS.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS 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 for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business earned $1.00 earnings per share. The business’s revenue was down 7.9% compared to the same quarter last year.

Other equities research analysts have also issued research reports about the company. Citigroup increased their price target on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. TheStreet raised Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Jefferies Financial Group increased their price target on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI increased their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.29.

Citizens Financial Group Price Performance

CFG stock opened at $33.99 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88. The firm has a market capitalization of $15.58 billion, a P/E ratio of 12.32 and a beta of 1.38. The business’s 50-day moving average is $33.33 and its two-hundred day moving average is $30.63. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38.

Citizens Financial Group Announces Dividend

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

Insider Buying and Selling

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

Institutional Trading of Citizens Financial Group

Institutional investors have recently modified their holdings of the business. Lindbrook Capital LLC raised its holdings in Citizens Financial Group by 100.8% during the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares during the last quarter. Groupama Asset Managment acquired a new position in Citizens Financial Group during the fourth quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new position in shares of Citizens Financial Group in the fourth quarter worth $28,000. Clear Street Markets LLC raised its holdings in shares of Citizens Financial Group by 93.6% in the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock worth $29,000 after acquiring an additional 466 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in shares of Citizens Financial Group in the fourth quarter worth $33,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.