DA Davidson Issues Pessimistic Forecast for CFG Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Stock analysts at DA Davidson dropped their Q4 2024 earnings estimates for shares of Citizens Financial Group in a research note issued on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $0.84 per share for the quarter, down from their prior forecast of $0.85. DA Davidson has a “Buy” rating and a $48.00 price objective on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.20 per share.

Several other research firms have also recently issued reports on CFG. Raymond James raised Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price on the stock in a research note on Wednesday. Evercore ISI cut their price target on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a report on Wednesday, October 2nd. Barclays upped their price objective on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Citizens Financial Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.41.

Citizens Financial Group Stock Up 2.4 %

Shares of CFG opened at $43.45 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market cap of $19.15 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.76 and a beta of 1.08. The stock has a 50 day simple moving average of $44.93 and a two-hundred day simple moving average of $41.29. Citizens Financial Group has a 1 year low of $30.24 and a 1 year high of $49.25.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $1.90 billion for 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%. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS.

Citizens Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s payout ratio is 66.14%.

Institutional Trading of Citizens Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the second quarter valued at approximately $25,000. Costello Asset Management INC purchased a new stake in Citizens Financial Group during the third quarter worth about $25,000. Ashton Thomas Securities LLC acquired a new position in Citizens Financial Group during the third quarter worth about $27,000. Catalyst Capital Advisors LLC purchased a new position in Citizens Financial Group in the third quarter valued at about $28,000. Finally, Private Ocean LLC lifted its position in shares of Citizens Financial Group by 484.4% during the 2nd quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.