Q2 2024 Earnings Forecast for Citizens Financial Group, Inc. (NYSE:CFG) Issued By Wedbush

Citizens Financial Group, Inc. (NYSE:CFG) – Equities research analysts at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for Citizens Financial Group in a report issued on Wednesday, April 17th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $0.82 per share for the quarter, up from their previous forecast of $0.80. Wedbush has a “Neutral” rating and a $35.00 price objective on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Wedbush also issued estimates for Citizens Financial Group’s Q3 2024 earnings at $0.86 EPS.

CFG has been the subject of a number of other research reports. TheStreet upgraded Citizens Financial Group from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Evercore ISI increased their target price on Citizens Financial Group from $35.00 to $39.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $35.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Jefferies Financial Group increased their target price on Citizens Financial Group from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Citigroup increased their price target on Citizens Financial Group from $39.00 to $43.00 and gave the company a “buy” rating in a report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.93.

Citizens Financial Group Price Performance

CFG stock opened at $34.98 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.87 and a current ratio of 0.87. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The firm has a market cap of $16.04 billion, a P/E ratio of 12.67 and a beta of 1.38. The stock has a 50-day simple moving average of $33.46 and a 200-day simple moving average of $30.83.

Citizens Financial Group (NYSE:CFG) last announced its quarterly 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 return on equity of 6.62% and a net margin of 11.52%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $1.00 earnings per share. The business’s revenue was down 7.9% compared to the same quarter last year.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued 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 is Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio is presently 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 6,327 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $33.70, for a total transaction of $213,219.90. Following the transaction, 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 document filed with the SEC, which is available at this link. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Citizens Financial Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its position in shares of Citizens Financial Group by 100.8% during the 3rd quarter. Lindbrook Capital LLC now owns 988 shares of the bank’s stock worth $26,000 after purchasing an additional 496 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Citizens Financial Group during the 4th quarter worth approximately $33,000. Quarry LP raised its position in shares of Citizens Financial Group by 183.1% during the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the period. CVA Family Office LLC acquired a new stake in Citizens Financial Group in the 4th quarter valued at approximately $40,000. Finally, Blue Trust Inc. increased its position in Citizens Financial Group by 77.6% in the 4th quarter. Blue Trust Inc. now owns 1,314 shares of the bank’s stock valued at $44,000 after acquiring an additional 574 shares during the period. 94.90% of the stock is currently owned by institutional investors and hedge funds.

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.