Brokers Issue Forecasts for Citizens Financial Group, Inc.’s Q1 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at Wedbush cut their Q1 2024 EPS estimates for shares of Citizens Financial Group in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $0.76 per share for the quarter, down from their prior forecast of $0.78. Wedbush currently has a “Neutral” rating and a $35.00 target price on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.21 per share. Wedbush also issued estimates for Citizens Financial Group’s Q2 2024 earnings at $0.80 EPS, Q3 2024 earnings at $0.85 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.04 EPS, Q3 2025 earnings at $1.04 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $4.05 EPS.

Citizens Financial Group (NYSE:CFG) last announced its earnings results on Wednesday, January 17th. The bank reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.26). The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Citizens Financial Group had a net margin of 13.19% and a return on equity of 7.40%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share.

Several other equities research analysts have also commented on CFG. Citigroup upgraded shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, February 5th. Barclays lowered shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $38.00 to $40.00 in a research report on Tuesday, January 2nd. TheStreet upgraded shares of Citizens Financial Group from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. UBS Group upped their target price on shares of Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Citizens Financial Group from $33.00 to $35.00 and gave the company a “market perform” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.00.

Citizens Financial Group Stock Performance

Shares of CFG opened at $35.84 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $16.43 billion, a P/E ratio of 11.52 and a beta of 1.36. The company’s fifty day moving average is $32.67 and its two-hundred day moving average is $29.76. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.18.

Citizens Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Tuesday, January 30th. Citizens Financial Group’s dividend payout ratio (DPR) is presently 54.02%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the 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 completion of the sale, the insider now owns 43,885 shares of the company’s stock, valued at $1,471,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.62% of the stock is owned by corporate insiders.

Institutional Trading of Citizens Financial Group

Several large investors have recently bought and sold shares of CFG. BlackRock Inc. boosted its stake in shares of Citizens Financial Group by 4.9% during the 2nd quarter. BlackRock Inc. now owns 60,391,319 shares of the bank’s stock valued at $1,575,006,000 after buying an additional 2,799,127 shares during the last quarter. Capital International Investors boosted its stake in shares of Citizens Financial Group by 3.5% during the 4th quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock valued at $1,165,106,000 after buying an additional 1,199,158 shares during the last quarter. State Street Corp lifted its stake in Citizens Financial Group by 1.0% during the first quarter. State Street Corp now owns 25,577,041 shares of the bank’s stock worth $776,775,000 after purchasing an additional 241,869 shares during the last quarter. Capital World Investors lifted its stake in Citizens Financial Group by 76.0% during the first quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock worth $861,383,000 after purchasing an additional 8,203,831 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Citizens Financial Group by 18.0% during the fourth quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock worth $720,392,000 after purchasing an additional 2,785,751 shares during the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.