Q1 2024 EPS Estimates for Citizens Financial Group, Inc. Cut by Analyst (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Wedbush lowered their Q1 2024 EPS estimates for shares of Citizens Financial Group in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $0.76 for the quarter, down from their previous forecast of $0.78. Wedbush has a “Neutral” rating and a $35.00 price target on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.21 per share. Wedbush also issued estimates for Citizens Financial Group’s Q2 2024 earnings at $0.80 EPS, Q3 2024 earnings at $0.85 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.04 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.05 EPS.

Several other analysts have also weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Citizens Financial Group from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, December 18th. StockNews.com lowered shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Morgan Stanley upped their target price on shares of Citizens Financial Group from $31.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada upped their target price on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock a “market perform” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $35.00.

Citizens Financial Group Stock Up 2.9 %

Shares of NYSE CFG opened at $35.84 on Thursday. The company has a market capitalization of $16.43 billion, a P/E ratio of 11.52 and a beta of 1.36. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $36.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average price is $32.67 and its 200-day moving average price is $29.76.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.26). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Citizens Financial Group had a return on equity of 7.40% and a net margin of 13.19%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share.

Institutional Trading of Citizens Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kinneret Advisory LLC lifted its stake in Citizens Financial Group by 2.3% in the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock worth $603,000 after acquiring an additional 298 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Citizens Financial Group by 1.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 21,343 shares of the bank’s stock worth $707,000 after acquiring an additional 393 shares during the period. Hall Capital Management Co. Inc. lifted its position in Citizens Financial Group by 3.6% during the third quarter. Hall Capital Management Co. Inc. now owns 12,064 shares of the bank’s stock valued at $323,000 after buying an additional 416 shares during the period. Wealthspire Advisors LLC lifted its position in Citizens Financial Group by 4.1% during the fourth quarter. Wealthspire Advisors LLC now owns 11,071 shares of the bank’s stock valued at $367,000 after buying an additional 439 shares during the period. Finally, Connable Office Inc. lifted its position in Citizens Financial Group by 2.6% during the fourth quarter. Connable Office Inc. now owns 17,319 shares of the bank’s stock valued at $574,000 after buying an additional 443 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Insider Activity

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

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, January 31st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Tuesday, January 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 54.02%.

Citizens Financial Group Company Profile

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.