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

Citizens Financial Group, Inc. (NYSE:CFG) – Stock analysts at Wedbush boosted their Q2 2024 earnings per share (EPS) estimates for Citizens Financial Group in a research note issued to investors on Wednesday, April 17th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $0.82 for the quarter, up from their prior estimate of $0.80. 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 $3.24 per share. Wedbush also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.86 EPS.

CFG has been the topic of several other reports. Royal Bank of Canada boosted their target price 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. Morgan Stanley boosted their target price on Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Evercore ISI boosted their target price on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Jefferies Financial Group boosted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $35.93.

Citizens Financial Group Stock Performance

Shares of CFG opened at $34.55 on Monday. The firm has a market cap of $15.84 billion, a PE ratio of 12.52 and a beta of 1.38. The stock’s fifty day moving average price is $33.37 and its two-hundred day moving average price is $30.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38.

Citizens Financial Group (NYSE:CFG) last issued its quarterly 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). The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 earnings per share.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.86%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Buying and Selling

In other news, insider Craig Jack Read sold 6,327 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the transaction, the insider now directly owns 37,558 shares in the company, valued at approximately $1,265,704.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of Citizens Financial Group in the 4th quarter worth about $1,959,000. Alps Advisors Inc. grew its position in Citizens Financial Group by 32.5% during the 3rd quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock worth $327,000 after acquiring an additional 2,992 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its stake in Citizens Financial Group by 49.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock worth $42,970,000 after purchasing an additional 431,624 shares during the period. SeaTown Holdings Pte. Ltd. lifted its position in Citizens Financial Group by 3,222.9% in the third quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank’s stock valued at $31,168,000 after purchasing an additional 1,128,000 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in shares of Citizens Financial Group by 1.4% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 539,730 shares of the bank’s stock valued at $17,887,000 after acquiring an additional 7,205 shares during the last quarter. 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.