Q2 2024 Earnings Forecast for Citizens Financial Group, Inc. Issued By Zacks Research (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFGFree Report) – Analysts at Zacks Research raised their Q2 2024 earnings estimates for Citizens Financial Group in a research report issued on Tuesday, February 6th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $0.79 for the quarter, up from their previous estimate of $0.78. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.29 per share. Zacks Research also issued estimates for Citizens Financial Group’s FY2024 earnings at $3.06 EPS, Q1 2025 earnings at $0.90 EPS, Q2 2025 earnings at $0.91 EPS, FY2025 earnings at $3.82 EPS and FY2026 earnings at $4.17 EPS.

CFG has been the topic of a number of other reports. Barclays downgraded shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $38.00 to $40.00 in a research note on Tuesday, January 2nd. TheStreet raised shares of Citizens Financial Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Wolfe Research raised shares of Citizens Financial Group from an “underperform” rating to a “peer perform” rating in a research note on Monday, October 23rd. Finally, Piper Sandler downgraded shares of Citizens Financial Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $26.00 in a research note on Wednesday, October 25th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.00.

Get Our Latest Report on Citizens Financial Group

Citizens Financial Group Price Performance

Shares of CFG stock opened at $31.37 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day moving average is $32.17 and its two-hundred day moving average is $28.99. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $44.22. The company has a market capitalization of $14.63 billion, a PE ratio of 10.09 and a beta of 1.39.

Citizens Financial Group (NYSE:CFGGet Free Report) last issued its earnings results on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26). Citizens Financial Group had a return on equity of 7.40% and a net margin of 13.19%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $1.25 earnings per share. Citizens Financial Group’s revenue for the quarter was down 9.2% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFG. Massmutual Trust Co. FSB ADV grew its holdings in Citizens Financial Group by 63.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 984 shares of the bank’s stock worth $26,000 after acquiring an additional 381 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Citizens Financial Group by 100.8% during the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after acquiring an additional 496 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in Citizens Financial Group during the 4th quarter worth approximately $28,000. Clear Street Markets LLC boosted its holdings in shares of Citizens Financial Group by 93.6% in the 1st quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after buying an additional 466 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend is Tuesday, January 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 54.02%.

About Citizens Financial Group

(Get Free Report)

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.

Read More

Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.