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

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at Wedbush boosted their Q2 2024 earnings per share estimates for Citizens Financial Group in a report issued 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.

Citizens Financial Group (NYSE:CFG) last posted 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). 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 for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business posted $1.00 EPS. The company’s revenue for the quarter was down 7.9% on a year-over-year basis.

A number of other research firms have also recently commented on CFG. Morgan Stanley lifted their price target on Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Evercore ISI raised their price objective on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Barclays downgraded shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, January 2nd. UBS Group raised their price objective on shares of Citizens Financial Group from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Jefferies Financial Group raised their price objective on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.93.

Citizens Financial Group Trading Up 1.2 %

Citizens Financial Group stock opened at $34.98 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 debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $16.04 billion, a P/E ratio of 12.67 and a beta of 1.38. The stock has a 50-day simple moving average of $33.46 and a 200 day simple moving average of $30.83.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.80%. Citizens Financial Group’s payout ratio is 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the sale, the insider now directly owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.62% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Citizens Financial Group in the fourth quarter valued at approximately $1,959,000. Alps Advisors Inc. increased its stake in Citizens Financial Group by 32.5% in the third quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock valued at $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 fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock valued at $42,970,000 after acquiring an additional 431,624 shares during the last quarter. SeaTown Holdings Pte. Ltd. increased its stake 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 acquiring an additional 1,128,000 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its stake in Citizens Financial Group by 1.4% in 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 owned by institutional investors.

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.