FY2024 Earnings Forecast for Citizens Financial Group, Inc. (NYSE:CFG) Issued By DA Davidson

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at DA Davidson lifted their FY2024 earnings per share (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 post earnings per share of $3.27 for the year, up from their previous forecast 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 released its earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $1.00 earnings per share.

Other research analysts have also issued reports about the company. Jefferies Financial Group lifted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a report on Monday, April 8th. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Citigroup lifted their price target on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, Wedbush decreased their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.93.

Citizens Financial Group Trading Up 1.2 %

NYSE:CFG opened at $34.98 on Monday. The firm has a market cap of $16.04 billion, a PE ratio of 12.67 and a beta of 1.38. The stock has a fifty day moving average price of $33.46 and a 200 day moving average price of $30.83. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $36.38. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.63.

Hedge Funds Weigh In On Citizens Financial Group

Several institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank increased its position in Citizens Financial Group by 0.5% in the 1st quarter. Czech National Bank now owns 82,032 shares of the bank’s stock valued at $2,977,000 after acquiring an additional 375 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Citizens Financial Group by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock valued at $707,000 after acquiring an additional 393 shares during the period. Fifth Third Bancorp increased its position in Citizens Financial Group by 1.6% in the 1st quarter. Fifth Third Bancorp now owns 26,737 shares of the bank’s stock valued at $970,000 after acquiring an additional 418 shares during the period. Wealthspire Advisors LLC increased its position in Citizens Financial Group by 4.1% in the 4th quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock valued at $367,000 after acquiring an additional 439 shares during the period. Finally, Connable Office Inc. increased its position in Citizens Financial Group by 2.6% in the 4th quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock valued at $574,000 after acquiring an additional 443 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the sale, the insider now owns 37,558 shares in the company, valued at $1,265,704.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.62% of the company’s stock.

Citizens Financial Group Dividend Announcement

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