Zacks Research Weighs in on Citizens Financial Group, Inc.’s FY2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at Zacks Research boosted their FY2024 EPS estimates for shares of Citizens Financial Group in a research note issued to investors on Wednesday, September 25th. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $3.14 per share for the year, up from their prior forecast of $2.96. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Zacks Research also issued estimates for Citizens Financial Group’s Q2 2025 earnings at $0.90 EPS, FY2025 earnings at $3.74 EPS, Q2 2026 earnings at $1.13 EPS and FY2026 earnings at $4.43 EPS.

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

CFG has been the subject of a number of other research reports. Evercore ISI boosted their price target on shares of Citizens Financial Group from $38.00 to $39.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Jefferies Financial Group boosted their price target on shares of Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada boosted their price target on shares of Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. UBS Group boosted their price target on shares of Citizens Financial Group from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Ten research 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, the company currently has a consensus rating of “Hold” and an average price target of $42.20.

Citizens Financial Group Stock Up 0.7 %

Citizens Financial Group stock opened at $40.80 on Friday. The company has a market capitalization of $18.56 billion, a PE ratio of 14.78, a PEG ratio of 1.43 and a beta of 1.08. The firm’s fifty day moving average is $41.17 and its 200 day moving average is $37.34. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.60. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $43.96.

Hedge Funds Weigh In On Citizens Financial Group

Institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in Citizens Financial Group during the second quarter valued at about $25,000. Versant Capital Management Inc lifted its holdings in Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after purchasing an additional 678 shares during the last quarter. Private Ocean LLC lifted its holdings in Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after purchasing an additional 838 shares during the last quarter. Quarry LP lifted its holdings in Citizens Financial Group by 183.1% during the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock valued at $37,000 after purchasing an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Citizens Financial Group during the second quarter valued at about $48,000. Institutional investors own 94.90% of the company’s stock.

Insider Transactions at Citizens Financial Group

In related news, insider Craig Jack Read sold 3,938 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the completion of the transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.62% of the company’s stock.

Citizens Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 4.12%. Citizens Financial Group’s payout ratio is 60.87%.

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.