Zacks Research Has Bullish Outlook for CFG FY2024 Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at Zacks Research upped their FY2024 earnings estimates for shares of Citizens Financial Group in a report issued on Wednesday, November 6th. Zacks Research analyst R. Department now expects that the bank will post earnings per share of $3.20 for the year, up from their previous forecast of $3.14. 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 $0.80 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.13 EPS, FY2025 earnings at $3.82 EPS, Q1 2026 earnings at $1.09 EPS, Q2 2026 earnings at $1.16 EPS, Q3 2026 earnings at $1.16 EPS and FY2026 earnings at $4.61 EPS.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 earnings per share.

Other equities analysts have also recently issued reports about the stock. Stephens raised their price objective on shares of Citizens Financial Group from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Piper Sandler upped their price objective on Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. DA Davidson boosted their price objective on shares of Citizens Financial Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Barclays lifted their price target on shares of Citizens Financial Group from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.80.

Citizens Financial Group Trading Down 0.2 %

CFG opened at $46.40 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $20.45 billion, a PE ratio of 18.27, a PEG ratio of 1.75 and a beta of 1.07. The firm has a 50-day moving average price of $41.80 and a two-hundred day moving average price of $39.12. Citizens Financial Group has a 1-year low of $24.73 and a 1-year high of $48.35.

Institutional Trading of Citizens Financial Group

Several institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Citizens Financial Group by 35.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock valued at $2,838,000 after buying an additional 20,649 shares during the period. Canada Pension Plan Investment Board lifted its position in Citizens Financial Group by 101.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock valued at $27,641,000 after acquiring an additional 383,947 shares during the period. UniSuper Management Pty Ltd grew its stake in shares of Citizens Financial Group by 1,045.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 25,692 shares of the bank’s stock worth $932,000 after buying an additional 23,449 shares during the last quarter. CWM LLC boosted its stake in Citizens Financial Group by 77.1% in the 2nd quarter. CWM LLC now owns 40,699 shares of the bank’s stock worth $1,466,000 after purchasing an additional 17,718 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Citizens Financial Group during the second quarter valued at approximately $5,009,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, October 30th. Citizens Financial Group’s payout ratio is currently 66.14%.

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.