DA Davidson Brokers Lift Earnings Estimates for Citizens Financial Group, Inc. (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a report issued on Thursday, July 18th. DA Davidson analyst P. Winter now expects that the bank will earn $3.28 per share for the year, up from their previous forecast of $3.26. DA Davidson currently has a “Buy” rating and a $46.00 target price on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2025 earnings at $4.17 EPS.

CFG has been the subject of a number of other research reports. StockNews.com upgraded Citizens Financial Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 5th. Keefe, Bruyette & Woods increased their price target on Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Wedbush cut their price target on Citizens Financial Group from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. UBS Group increased their price target on Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Argus increased their price target on Citizens Financial Group from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Citizens Financial Group presently has a consensus rating of “Hold” and a consensus target price of $41.13.

Citizens Financial Group Trading Up 2.2 %

NYSE:CFG opened at $42.30 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.10. Citizens Financial Group has a one year low of $22.77 and a one year high of $42.62. The business has a fifty day moving average price of $36.11 and a 200-day moving average price of $34.40.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CFG. Raymond James Trust N.A. bought a new position in shares of Citizens Financial Group in the 4th quarter valued at about $228,000. Whittier Trust Co. lifted its holdings in shares of Citizens Financial Group by 203.1% in the 4th quarter. Whittier Trust Co. now owns 7,259 shares of the bank’s stock valued at $240,000 after acquiring an additional 4,864 shares during the last quarter. Brookstone Capital Management bought a new position in shares of Citizens Financial Group in the 4th quarter valued at about $241,000. Raymond James & Associates lifted its holdings in shares of Citizens Financial Group by 19.7% in the 4th quarter. Raymond James & Associates now owns 377,711 shares of the bank’s stock valued at $12,517,000 after acquiring an additional 62,207 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Citizens Financial Group in the 4th quarter valued at about $40,000. Institutional investors own 94.90% of the company’s stock.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Wednesday, July 31st will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

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.