FY2024 Earnings Forecast for Citizens Financial Group, Inc. (NYSE:CFG) Issued By DA Davidson

Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a research note issued on Thursday, April 18th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $3.27 for the year, up from their previous estimate of $3.24. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share.

CFG has been the topic of a number of other research reports. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Jefferies Financial Group lifted their target price on Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Barclays cut Citizens Financial Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Citigroup lifted their target price on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.93.

Citizens Financial Group Stock Performance

NYSE:CFG opened at $34.98 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.87. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The stock’s 50 day simple moving average is $33.46 and its two-hundred day simple moving average is $30.83. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 12.67 and a beta of 1.38.

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

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is 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 on 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 sale, the insider now directly owns 43,885 shares in the company, valued at approximately $1,471,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.62% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI increased its position in Citizens Financial Group by 24.8% during the 3rd quarter. National Bank of Canada FI now owns 100,892 shares of the bank’s stock valued at $2,614,000 after buying an additional 20,061 shares in the last quarter. CWM LLC increased its position in Citizens Financial Group by 28.3% during the 3rd quarter. CWM LLC now owns 17,272 shares of the bank’s stock valued at $463,000 after buying an additional 3,815 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Citizens Financial Group during the 3rd quarter valued at about $1,002,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Citizens Financial Group in the third quarter valued at about $447,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Citizens Financial Group by 336.3% in the third quarter. Global Retirement Partners LLC now owns 1,693 shares of the bank’s stock valued at $43,000 after purchasing an additional 1,305 shares during the period. 94.90% of the stock is owned by institutional investors.

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.