Zacks Research Has Positive Estimate for CFG FY2024 Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at Zacks Research upped their FY2024 EPS estimates for shares of Citizens Financial Group in a report issued on Thursday, January 2nd. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $3.21 per share for the year, up from their previous estimate of $3.20. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Citizens Financial Group’s Q4 2024 earnings at $0.81 EPS, Q2 2025 earnings at $0.93 EPS, FY2025 earnings at $3.85 EPS, Q1 2026 earnings at $1.11 EPS, Q2 2026 earnings at $1.19 EPS, Q3 2026 earnings at $1.19 EPS and FY2026 earnings at $4.68 EPS.

Other equities research analysts have also issued research reports about the stock. Compass Point upped their target price on shares of Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Raymond James raised shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, December 18th. Barclays boosted their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Citigroup boosted their price target on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Citizens Financial Group Price Performance

Citizens Financial Group stock opened at $44.56 on Monday. Citizens Financial Group has a 52-week low of $30.24 and a 52-week high of $49.25. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.76 and a beta of 1.10. The company has a fifty day simple moving average of $45.28 and a 200-day simple moving average of $41.95. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61.

Citizens Financial Group (NYSE:CFG) last issued its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.77%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 66.14%.

Institutional Trading of Citizens Financial Group

A number of institutional investors and hedge funds have recently bought and sold shares of CFG. Commonwealth Equity Services LLC increased its stake in Citizens Financial Group by 6.7% during the second quarter. Commonwealth Equity Services LLC now owns 172,862 shares of the bank’s stock worth $6,228,000 after purchasing an additional 10,859 shares during the period. TD Asset Management Inc increased its stake in Citizens Financial Group by 0.9% during the second quarter. TD Asset Management Inc now owns 169,726 shares of the bank’s stock worth $6,115,000 after purchasing an additional 1,495 shares during the period. Victory Capital Management Inc. increased its stake in Citizens Financial Group by 0.4% during the second quarter. Victory Capital Management Inc. now owns 540,823 shares of the bank’s stock worth $19,486,000 after purchasing an additional 2,332 shares during the period. Savant Capital LLC increased its stake in Citizens Financial Group by 123.9% during the second quarter. Savant Capital LLC now owns 77,248 shares of the bank’s stock worth $2,783,000 after purchasing an additional 42,744 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Citizens Financial Group by 12.7% during the second quarter. Cullen Frost Bankers Inc. now owns 2,344 shares of the bank’s stock worth $84,000 after purchasing an additional 264 shares during the period. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

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.