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

Citizens Financial Group, Inc. (NYSE:CFG) – DA Davidson issued their Q2 2024 EPS estimates for Citizens Financial Group in a report issued on Thursday, April 18th. DA Davidson analyst P. Winter anticipates that the bank will post earnings per share of $0.79 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 issued its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS 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 business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the business posted $1.00 EPS. The business’s revenue was down 7.9% on a year-over-year basis.

A number of other equities research analysts have also weighed in on the stock. Barclays lowered shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $38.00 to $40.00 in a report on Tuesday, January 2nd. Evercore ISI lifted their price target on shares of Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. TheStreet raised shares of Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Morgan Stanley lifted their price objective on shares of Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Finally, UBS Group lifted their price objective on shares of Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.29.

Citizens Financial Group Price Performance

CFG opened at $32.90 on Friday. The company has a fifty day simple moving average of $33.28 and a 200 day simple moving average of $30.58. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 11.92 and a beta of 1.38. Citizens Financial Group has a twelve month low of $22.77 and a twelve month high of $36.38. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CFG. MV Capital Management Inc. grew its position in Citizens Financial Group by 141.1% during the first quarter. MV Capital Management Inc. now owns 65,773 shares of the bank’s stock valued at $2,387,000 after purchasing an additional 38,491 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Citizens Financial Group in the first quarter valued at approximately $1,037,000. Diversified Trust Co lifted its stake in shares of Citizens Financial Group by 5.7% in the first quarter. Diversified Trust Co now owns 10,532 shares of the bank’s stock worth $382,000 after buying an additional 570 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Citizens Financial Group by 21.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,460 shares of the bank’s stock worth $416,000 after buying an additional 1,991 shares during the last quarter. Finally, Asio Capital LLC lifted its stake in shares of Citizens Financial Group by 5.8% in the first quarter. Asio Capital LLC now owns 97,754 shares of the bank’s stock worth $3,547,000 after buying an additional 5,377 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Citizens Financial Group

In other news, insider Craig Jack Read sold 4,508 shares of Citizens Financial Group stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 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 this hyperlink. 0.62% of the stock is currently owned by insiders.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is currently 60.87%.

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.