Q3 2022 EPS Estimates for Citizens Financial Group, Inc. Cut by Analyst (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFGGet Rating) – Investment analysts at Wedbush cut their Q3 2022 EPS estimates for shares of Citizens Financial Group in a research report issued on Tuesday, April 12th. Wedbush analyst P. Winter now anticipates that the bank will earn $1.17 per share for the quarter, down from their prior estimate of $1.20. Wedbush also issued estimates for Citizens Financial Group’s Q4 2022 earnings at $1.21 EPS, Q1 2023 earnings at $1.19 EPS, Q3 2023 earnings at $1.32 EPS and FY2023 earnings at $5.09 EPS.

CFG has been the subject of a number of other research reports. Citigroup cut Citizens Financial Group from a “buy” rating to a “neutral” rating in a research report on Monday. Morgan Stanley dropped their price target on Citizens Financial Group from $69.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. Barclays raised their price target on Citizens Financial Group from $55.00 to $62.00 in a research report on Monday, January 3rd. StockNews.com assumed coverage on Citizens Financial Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. raised their price target on Citizens Financial Group from $56.50 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, February 3rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Citizens Financial Group currently has an average rating of “Hold” and a consensus target price of $55.75.

Citizens Financial Group stock opened at $40.87 on Thursday. Citizens Financial Group has a one year low of $39.56 and a one year high of $57.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.90. The business has a fifty day moving average of $48.79 and a two-hundred day moving average of $49.22. The company has a market cap of $17.25 billion, a P/E ratio of 7.92 and a beta of 1.44.

Citizens Financial Group (NYSE:CFGGet Rating) last released its earnings results on Wednesday, January 19th. The bank reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. Citizens Financial Group had a return on equity of 11.32% and a net margin of 33.19%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the company earned $1.04 earnings per share. Citizens Financial Group’s quarterly revenue was up .8% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 11th. Investors of record on Monday, January 31st were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Friday, January 28th. Citizens Financial Group’s dividend payout ratio is presently 30.23%.

A number of institutional investors and hedge funds have recently bought and sold shares of CFG. Spire Wealth Management grew its holdings in Citizens Financial Group by 148.8% in the 3rd quarter. Spire Wealth Management now owns 602 shares of the bank’s stock valued at $28,000 after buying an additional 360 shares during the period. Kings Point Capital Management purchased a new stake in Citizens Financial Group in the 3rd quarter valued at about $33,000. Carolinas Wealth Consulting LLC grew its holdings in Citizens Financial Group by 37.4% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 772 shares of the bank’s stock valued at $36,000 after buying an additional 210 shares during the period. Mystic Asset Management Inc. purchased a new stake in Citizens Financial Group in the 4th quarter valued at about $37,000. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Citizens Financial Group by 32.2% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 936 shares of the bank’s stock valued at $44,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 91.76% of the company’s stock.

About Citizens Financial Group (Get Rating)

Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the following segments: Consumer Banking and Commercial Banking. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.

Read More

Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.