Q2 2024 EPS Estimates for Citizens Financial Group, Inc. Decreased by Wedbush (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Stock analysts at Wedbush cut their Q2 2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a research report issued to clients and investors on Monday, June 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $0.81 per share for the quarter, down from their previous forecast of $0.82. Wedbush has a “Neutral” rating and a $35.00 price target on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.16 per share. Wedbush also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.85 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.30 EPS, Q1 2025 earnings at $0.96 EPS, Q2 2025 earnings at $1.05 EPS, Q3 2025 earnings at $1.06 EPS, Q4 2025 earnings at $1.09 EPS and FY2025 earnings at $4.15 EPS.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI increased their price objective on Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a report on Tuesday. Argus increased their price objective on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Citigroup increased their price objective on Citizens Financial Group from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. dropped their price objective on Citizens Financial Group from $36.50 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $37.67.

Citizens Financial Group Trading Down 1.1 %

NYSE CFG opened at $34.99 on Wednesday. Citizens Financial Group has a fifty-two week low of $22.77 and a fifty-two week high of $37.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50 day simple moving average of $35.04 and a two-hundred day simple moving average of $33.69. The stock has a market cap of $15.92 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a return on equity of 6.62% and a net margin of 11.52%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business posted $1.00 EPS. The company’s quarterly revenue was down 7.9% compared to the same quarter last year.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s payout ratio is 60.87%.

Insider Buying and Selling at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of Citizens Financial Group stock in a transaction on Friday, April 19th. The stock was sold at an average price of $33.70, for a total value of $213,219.90. Following the completion of the sale, the insider now owns 37,558 shares of the company’s stock, valued at approximately $1,265,704.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by company insiders.

Institutional Trading of Citizens Financial Group

Several large investors have recently modified their holdings of CFG. Larson Financial Group LLC bought a new stake in shares of Citizens Financial Group in the fourth quarter worth $33,000. Quarry LP increased its position in Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after buying an additional 714 shares in the last quarter. CVA Family Office LLC purchased a new stake in Citizens Financial Group in the fourth quarter worth about $40,000. Blue Trust Inc. increased its position in Citizens Financial Group by 77.6% in the fourth quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock worth $44,000 after buying an additional 574 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Citizens Financial Group by 40.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,640 shares of the bank’s stock worth $54,000 after buying an additional 472 shares in the last quarter. Institutional investors 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.