Analysts Set Expectations for Citizens Financial Group, Inc.’s Q2 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Citizens Financial Group in a research note issued to investors on Thursday, April 18th. DA Davidson analyst P. Winter forecasts that the bank will post earnings per share of $0.79 for the quarter. 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 $4.09 EPS.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was down 7.9% on a year-over-year basis.

Several other research analysts also recently commented on the stock. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday. Citigroup raised their price target on shares of Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a report on Friday. Wedbush cut their price target on shares of Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Evercore ISI raised their price objective on shares of 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. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.93.

Citizens Financial Group Stock Up 3.3 %

Shares of NYSE:CFG opened at $33.99 on Friday. The firm has a fifty day moving average price of $33.33 and a two-hundred day moving average price of $30.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88. Citizens Financial Group has a one year low of $22.77 and a one year high of $36.38. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38.

Institutional Investors Weigh In On Citizens Financial Group

A number of large investors have recently added to or reduced their stakes in CFG. Kinneret Advisory LLC raised its holdings in Citizens Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock worth $603,000 after buying an additional 298 shares during the last quarter. Czech National Bank raised its holdings in Citizens Financial Group by 0.5% in the first quarter. Czech National Bank now owns 82,032 shares of the bank’s stock worth $2,977,000 after buying an additional 375 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Citizens Financial Group by 1.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after buying an additional 393 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in Citizens Financial Group by 4.1% in the fourth quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock worth $367,000 after buying an additional 439 shares during the last quarter. Finally, Connable Office Inc. raised its holdings in Citizens Financial Group by 2.6% in the fourth quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock worth $574,000 after buying an additional 443 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total value of $151,198.32. Following the transaction, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Dividend Announcement

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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group’s payout ratio 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.