Citizens Financial Group Inc (NYSE:CFG) – Analysts at Piper Jaffray Companies boosted their Q3 2019 earnings per share (EPS) estimates for shares of Citizens Financial Group in a research report issued to clients and investors on Tuesday, January 22nd. Piper Jaffray Companies analyst K. Barker now anticipates that the bank will earn $1.01 per share for the quarter, up from their prior forecast of $1.00. Piper Jaffray Companies also issued estimates for Citizens Financial Group’s Q4 2019 earnings at $0.97 EPS and FY2019 earnings at $3.79 EPS.
Several other equities research analysts have also issued reports on CFG. Zacks Investment Research lowered Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. BMO Capital Markets dropped their price target on Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, October 22nd. Credit Suisse Group dropped their price target on Citizens Financial Group from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, December 7th. Macquarie raised Citizens Financial Group from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a research note on Monday, October 22nd. Finally, Morgan Stanley dropped their price target on Citizens Financial Group from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $40.91.
Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Friday, January 18th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.04. Citizens Financial Group had a return on equity of 8.67% and a net margin of 23.20%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 14th. Stockholders of record on Thursday, January 31st will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Wednesday, January 30th. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.27. Citizens Financial Group’s payout ratio is 30.34%.
In related news, Director Shivan S. Subramaniam bought 3,000 shares of the stock in a transaction dated Wednesday, November 21st. The stock was bought at an average price of $35.32 per share, with a total value of $105,960.00. Following the purchase, the director now owns 38,963 shares in the company, valued at approximately $1,376,173.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CFG. JPMorgan Chase & Co. raised its position in Citizens Financial Group by 14.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,986,749 shares of the bank’s stock valued at $655,180,000 after purchasing an additional 2,189,838 shares during the last quarter. Bank of Montreal Can raised its position in Citizens Financial Group by 51.9% during the 3rd quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock valued at $204,888,000 after purchasing an additional 1,815,395 shares during the last quarter. BlackRock Inc. raised its position in Citizens Financial Group by 2.9% during the 3rd quarter. BlackRock Inc. now owns 42,438,174 shares of the bank’s stock valued at $1,636,839,000 after purchasing an additional 1,208,420 shares during the last quarter. Scout Investments Inc. raised its position in Citizens Financial Group by 1,037.6% during the 4th quarter. Scout Investments Inc. now owns 1,291,925 shares of the bank’s stock valued at $38,409,000 after purchasing an additional 1,178,363 shares during the last quarter. Finally, LSV Asset Management raised its position in Citizens Financial Group by 12.0% during the 3rd quarter. LSV Asset Management now owns 8,411,960 shares of the bank’s stock valued at $324,449,000 after purchasing an additional 898,835 shares during the last quarter. 96.30% of the stock is owned by institutional investors and hedge funds.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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