Citizens Financial Group, Inc. (NYSE:CFG) Forecasted to Earn Q3 2024 Earnings of $0.78 Per Share

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for Citizens Financial Group in a note issued to investors on Tuesday, September 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.78 per share for the quarter, down from their prior estimate of $0.79. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Wedbush also issued estimates for Citizens Financial Group’s Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.26 EPS, Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.00 EPS, FY2025 earnings at $3.80 EPS and FY2026 earnings at $4.95 EPS.

CFG has been the topic of several other reports. Jefferies Financial Group boosted their target price on Citizens Financial Group from $36.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Evercore ISI boosted their price objective on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Stephens lifted their price target on Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, July 19th. UBS Group increased their price objective on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Raymond James assumed coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They issued a “market perform” rating for the company. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of “Hold” and a consensus target price of $42.20.

Citizens Financial Group Trading Down 0.8 %

Shares of Citizens Financial Group stock opened at $40.75 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $18.27 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96. The company has a 50-day simple moving average of $41.20 and a 200 day simple moving average of $37.26.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the firm earned $0.92 EPS. Citizens Financial Group’s quarterly revenue was down 6.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CFG. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Citizens Financial Group by 2,109.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 386,634 shares of the bank’s stock worth $13,930,000 after purchasing an additional 369,134 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Citizens Financial Group during the second quarter worth about $1,429,000. Cetera Investment Advisers grew its stake in Citizens Financial Group by 4.7% in the second quarter. Cetera Investment Advisers now owns 134,855 shares of the bank’s stock valued at $4,859,000 after acquiring an additional 6,003 shares during the period. Brandes Investment Partners LP grew its stake in Citizens Financial Group by 35.8% in the second quarter. Brandes Investment Partners LP now owns 30,623 shares of the bank’s stock valued at $1,103,000 after acquiring an additional 8,078 shares during the period. Finally, Quarry LP increased its holdings in shares of Citizens Financial Group by 200.1% in the second quarter. Quarry LP now owns 2,035 shares of the bank’s stock worth $73,000 after acquiring an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

Insiders Place Their Bets

In other news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.12%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 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.