Analysts Set Expectations for Citizens Financial Group, Inc.’s FY2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Equities research analysts at DA Davidson upped their FY2024 earnings per share 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 of $3.27 per share for the year, up from their prior estimate of $3.24. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share.

Other analysts also recently issued reports about the company. UBS Group upped their price objective 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. Keefe, Bruyette & Woods upped their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Jefferies Financial Group upped their price objective on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 8th. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Finally, Evercore ISI increased their target price on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.93.

Citizens Financial Group Stock Up 3.3 %

Citizens Financial Group stock opened at $33.99 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 0.87. Citizens Financial Group has a fifty-two week low of $22.77 and a fifty-two week high of $36.38. The stock’s fifty day moving average is $33.33 and its two-hundred day moving average is $30.70. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38.

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

Citizens Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.42 dividend. 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 60.87%.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of the firm’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 transaction, the insider now directly owns 43,885 shares in the company, valued at approximately $1,471,902.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

A number of large investors have recently modified their holdings of CFG. Lindbrook Capital LLC grew 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 in the last quarter. Groupama Asset Managment acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $28,000. Clear Street Markets LLC grew 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 in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group in the fourth quarter valued at about $33,000. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.