Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) – Equities research analysts at Wedbush dropped their Q4 2023 earnings per share (EPS) estimates for shares of Citizens Financial Group in a research report issued on Wednesday, April 20th. Wedbush analyst P. Winter now expects that the bank will earn $1.31 per share for the quarter, down from their prior estimate of $1.35.
Several other research firms also recently commented on CFG. Keefe, Bruyette & Woods downgraded Citizens Financial Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $64.00 to $54.00 in a research report on Tuesday, April 5th. UBS Group began coverage on Citizens Financial Group in a research report on Thursday, January 13th. They set a “neutral” rating and a $58.00 target price for the company. Morgan Stanley cut their target price 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. Credit Suisse Group raised their target price on Citizens Financial Group from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, January 24th. Finally, Zacks Investment Research downgraded Citizens Financial Group from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Tuesday, March 29th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.70.
Citizens Financial Group (NYSE:CFG – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The bank reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Citizens Financial Group had a return on equity of 11.32% and a net margin of 33.19%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the company earned $1.41 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kings Point Capital Management acquired a new stake in shares of Citizens Financial Group in the 3rd quarter valued at $33,000. Carolinas Wealth Consulting LLC increased its stake in shares of 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. acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $37,000. Glassman Wealth Services grew its stake in shares of Citizens Financial Group by 68.7% during the third quarter. Glassman Wealth Services now owns 985 shares of the bank’s stock worth $46,000 after purchasing an additional 401 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Citizens Financial Group during the fourth quarter worth $49,000. 91.76% of the stock is owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 17th. Stockholders of record on Tuesday, May 3rd will be paid a $0.39 dividend. The ex-dividend date is Monday, May 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.52%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 30.23%.
About Citizens Financial Group (Get Rating)
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association 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.
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