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

Citizens Financial Group, Inc. (NYSE:CFG) – Investment analysts at Wedbush cut their FY2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a report issued on Wednesday, April 17th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $3.27 per share for the year, down from their prior estimate of $3.35. Wedbush currently has a “Neutral” rating and a $35.00 target price 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.

A number of other brokerages have also issued reports on CFG. Citigroup boosted their price target on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. UBS Group upped their price objective on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, StockNews.com lowered Citizens Financial Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.29.

Citizens Financial Group Price Performance

Shares of CFG opened at $32.90 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. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $36.38. The stock has a fifty day moving average price of $33.28 and a 200 day moving average price of $30.58. The company has a market cap of $15.08 billion, a P/E ratio of 11.92 and a beta of 1.38.

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 analysts’ consensus estimates of $0.75 by ($0.10). The company 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%. Citizens Financial Group’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share.

Citizens Financial Group Announces Dividend

The firm also recently declared 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 5.11%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,471,902.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.62% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in Citizens Financial Group by 4.6% in the 1st quarter. BlackRock Inc. now owns 57,592,192 shares of the bank’s stock worth $1,749,075,000 after purchasing an additional 2,540,392 shares during the last quarter. Capital International Investors increased its position in Citizens Financial Group by 3.5% in the 4th quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock worth $1,165,106,000 after purchasing an additional 1,199,158 shares during the last quarter. State Street Corp increased its position in Citizens Financial Group by 1.0% in the 1st quarter. State Street Corp now owns 25,577,041 shares of the bank’s stock worth $776,775,000 after purchasing an additional 241,869 shares during the last quarter. Capital World Investors increased its position in Citizens Financial Group by 76.0% in the 1st quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock worth $861,383,000 after purchasing an additional 8,203,831 shares during the last quarter. Finally, Morgan Stanley increased its position in Citizens Financial Group by 18.0% in the 4th quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock worth $720,392,000 after purchasing an additional 2,785,751 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.

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.