DA Davidson Weighs in on Citizens Financial Group, Inc.’s Q2 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Citizens Financial Group in a research note issued to investors on Thursday, April 18th. DA Davidson analyst P. Winter anticipates that the bank will post earnings of $0.79 per share for the quarter. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.25 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2025 earnings at $4.09 EPS.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.96 billion. Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share.

Several other research firms also recently issued reports on CFG. Evercore ISI boosted their price target on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Royal Bank of Canada upped their target price on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. UBS Group upped their target price on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Citigroup upped their target price on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays downgraded Citizens Financial Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $38.00 to $40.00 in a research report on Tuesday, January 2nd. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.29.

Citizens Financial Group Stock Performance

CFG opened at $33.99 on Friday. The business has a fifty day simple moving average of $33.33 and a 200 day simple moving average of $30.63. The company has a market capitalization of $15.58 billion, a PE ratio of 12.32 and a beta of 1.38. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88.

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 issued a dividend of $0.42 per share. 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 4.94%. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares of the company’s stock, valued at approximately $1,471,902.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Resurgent Financial Advisors LLC acquired a new position in Citizens Financial Group in the 4th quarter worth about $28,000. Groupama Asset Managment acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $27,000. Clear Street Markets LLC increased its stake in shares of Citizens Financial Group by 93.6% in the first quarter. Clear Street Markets LLC now owns 964 shares of the bank’s stock valued at $29,000 after buying an additional 466 shares during the period. Lindbrook Capital LLC increased its stake in shares of Citizens Financial Group by 100.8% in the third quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock valued at $26,000 after buying an additional 496 shares during the period. Finally, Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.