DA Davidson Weighs in on Citizens Financial Group, Inc.’s Q2 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Citizens Financial Group in a report released on Thursday, April 18th. DA Davidson analyst P. Winter expects that the bank will earn $0.79 per share for the quarter. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.25 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2025 earnings at $4.09 EPS.

Several other brokerages have also commented on CFG. Morgan Stanley upped their target price on Citizens Financial Group from $31.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Citigroup increased their price target on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Wedbush cut their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Evercore ISI increased their price target on Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Hold” and an average target price of $36.29.

Citizens Financial Group Stock Down 0.4 %

Shares of Citizens Financial Group stock opened at $32.90 on Friday. Citizens Financial Group has a one year low of $22.77 and a one year high of $36.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.88. The stock’s 50-day moving average is $33.28 and its 200 day moving average is $30.58. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 11.92 and a beta of 1.38.

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

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.11%. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insider Activity

In other news, insider Craig Jack Read sold 4,508 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 43,885 shares in the company, valued at $1,471,902.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Citizens Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. MV Capital Management Inc. increased its position in shares of Citizens Financial Group by 141.1% during the first quarter. MV Capital Management Inc. now owns 65,773 shares of the bank’s stock valued at $2,387,000 after acquiring an additional 38,491 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Citizens Financial Group during the first quarter valued at approximately $1,037,000. Diversified Trust Co increased its position in shares of Citizens Financial Group by 5.7% during the first quarter. Diversified Trust Co now owns 10,532 shares of the bank’s stock valued at $382,000 after acquiring an additional 570 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Citizens Financial Group by 21.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,460 shares of the bank’s stock valued at $416,000 after acquiring an additional 1,991 shares during the last quarter. Finally, Asio Capital LLC increased its position in shares of Citizens Financial Group by 5.8% during the first quarter. Asio Capital LLC now owns 97,754 shares of the bank’s stock valued at $3,547,000 after acquiring an additional 5,377 shares during the last quarter. 94.90% of the stock is 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.