Zacks Research Has Positive Estimate for CFG FY2024 Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Investment analysts at Zacks Research increased their FY2024 earnings estimates for Citizens Financial Group in a report issued on Thursday, January 2nd. Zacks Research analyst R. Department now expects that the bank will earn $3.21 per share for the year, up from their prior 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.

Several other equities analysts have also commented on the stock. Citigroup increased 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 note on Thursday, November 21st. Compass Point increased their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Evercore ISI dropped 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 research note on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, DA Davidson increased their price objective on Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.41.

Citizens Financial Group Stock Performance

Shares of Citizens Financial Group stock opened at $44.56 on Monday. The firm has a market capitalization of $19.64 billion, a P/E ratio of 17.54, a P/E/G ratio of 1.76 and a beta of 1.10. Citizens Financial Group has a 52 week low of $30.24 and a 52 week high of $49.25. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $45.28 and its two-hundred day moving average is $41.95.

Citizens Financial Group (NYSE:CFG) last released 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. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year.

Institutional Investors Weigh In On Citizens Financial Group

Hedge funds have recently modified their holdings of the stock. Costello Asset Management INC acquired a new stake in shares of Citizens Financial Group during the third quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in Citizens Financial Group in the third quarter valued at $27,000. Catalyst Capital Advisors LLC acquired a new stake in Citizens Financial Group in the third quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in Citizens Financial Group in the third quarter valued at $48,000. Finally, Friedenthal Financial acquired a new stake in Citizens Financial Group in the third quarter valued at $50,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Citizens Financial Group Announces Dividend

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

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.