DA Davidson Comments on Citizens Financial Group, Inc.’s Q1 2023 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) – Equities researchers at DA Davidson issued their Q1 2023 earnings estimates for shares of Citizens Financial Group in a research note issued on Wednesday, January 18th. DA Davidson analyst P. Winter expects that the bank will post earnings of $1.21 per share for the quarter. DA Davidson has a “Buy” rating and a $47.00 price objective on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $4.31 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2023 earnings at $5.23 EPS.

Citizens Financial Group (NYSE:CFG – Get Rating) last posted its earnings results on Wednesday, October 19th. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.13 billion. Citizens Financial Group had a net margin of 24.05% and a return on equity of 10.88%. During the same period in the previous year, the firm posted $1.22 earnings per share.

A number of other analysts also recently commented on CFG. Morgan Stanley upped their target price on Citizens Financial Group from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Monday, December 5th. Barclays raised their price objective on shares of Citizens Financial Group from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. JPMorgan Chase & Co. boosted their target price on shares of Citizens Financial Group from $39.50 to $43.00 in a research note on Wednesday, November 2nd. Wolfe Research increased their price target on shares of Citizens Financial Group from $33.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, December 1st. Finally, Credit Suisse Group lifted their price objective on shares of Citizens Financial Group from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, October 20th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Citizens Financial Group Price Performance

Shares of CFG opened at $40.27 on Thursday. The business’s 50-day moving average is $40.27 and its two-hundred day moving average is $38.31. The company has a market capitalization of $19.83 billion, a P/E ratio of 10.07 and a beta of 1.37. Citizens Financial Group has a fifty-two week low of $32.65 and a fifty-two week high of $56.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 0.92.

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, January 30th. This represents a $1.68 annualized dividend and a yield of 4.17%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 42.00%.

Institutional Investors Weigh In On Citizens Financial Group

Large investors have recently bought and sold shares of the company. IFG Advisory LLC purchased a new stake in Citizens Financial Group during the 2nd quarter worth approximately $242,000. Asset Management One Co. Ltd. boosted its holdings in shares of Citizens Financial Group by 17.6% during the 2nd quarter. Asset Management One Co. Ltd. now owns 207,438 shares of the bank’s stock worth $7,403,000 after purchasing an additional 31,055 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Citizens Financial Group by 49.3% during the 2nd quarter. Private Advisor Group LLC now owns 75,953 shares of the bank’s stock worth $2,711,000 after purchasing an additional 25,079 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Citizens Financial Group during the 2nd quarter worth approximately $662,000. Finally, Arizona State Retirement System boosted its holdings in shares of Citizens Financial Group by 16.6% during the 2nd quarter. Arizona State Retirement System now owns 138,352 shares of the bank’s stock worth $4,938,000 after purchasing an additional 19,716 shares during the last quarter. 88.96% of the stock is currently owned by hedge funds and other institutional investors.

Citizens Financial Group Company Profile

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Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. 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.