Citizens Financial Group, Inc. (NYSE:CFG) to Post FY2024 Earnings of $3.27 Per Share, DA Davidson Forecasts

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at DA Davidson increased their FY2024 EPS estimates for Citizens Financial Group in a report issued on Thursday, April 18th. DA Davidson analyst P. Winter now anticipates that the bank will earn $3.27 per share for the year, up from their prior estimate of $3.24. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share.

Citizens Financial Group (NYSE:CFG) last issued 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 net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the company earned $1.00 EPS. Citizens Financial Group’s revenue for the quarter was down 7.9% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the company. Jefferies Financial Group boosted their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley raised their price objective on shares of Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Royal Bank of Canada boosted their target price on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Finally, Citigroup boosted their price objective on shares of Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.93.

Citizens Financial Group Stock Up 1.6 %

Shares of NYSE:CFG opened at $34.55 on Monday. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $36.38. The company has a market capitalization of $15.84 billion, a PE ratio of 12.52 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average of $33.37 and a 200-day moving average of $30.77.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC increased its stake in Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after purchasing an additional 496 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at about $33,000. Quarry LP increased its position in Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after buying an additional 714 shares in the last quarter. CVA Family Office LLC bought a new stake in Citizens Financial Group in the 4th quarter valued at about $40,000. Finally, Blue Trust Inc. raised its stake in Citizens Financial Group by 77.6% during the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after buying an additional 574 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by corporate insiders.

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 paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.86%. Citizens Financial Group’s dividend payout ratio is currently 60.87%.

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.