Citizens Financial Group Inc (NYSE:CFG) – Equities researchers at Jefferies Group raised their FY2018 earnings estimates for Citizens Financial Group in a report released on Sunday. Jefferies Group analyst K. Usdin now expects that the bank will post earnings per share of $3.30 for the year, up from their previous forecast of $3.16.
Other research analysts also recently issued reports about the stock. Sanford C. Bernstein set a $52.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 target price on shares of Citizens Financial Group in a research note on Sunday, January 21st. Barclays lifted their target price on shares of Citizens Financial Group from $41.00 to $49.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. BMO Capital Markets upgraded shares of Citizens Financial Group from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $40.00 to $39.00 in a research note on Tuesday, December 19th. Finally, Morgan Stanley lifted their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $42.36.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, January 19th. The bank reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.45 billion. Citizens Financial Group had a net margin of 25.60% and a return on equity of 6.73%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Citizens Financial Group’s previous quarterly dividend of $0.18. Citizens Financial Group’s payout ratio is 22.02%.
In related news, Director Wendy A. Watson sold 4,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $161,240.00. Following the transaction, the director now owns 12,917 shares of the company’s stock, valued at $520,684.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.21% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its holdings in shares of Citizens Financial Group by 2,682.0% in the 2nd quarter. Janus Henderson Group PLC now owns 8,138,852 shares of the bank’s stock valued at $290,393,000 after buying an additional 7,846,303 shares during the last quarter. Voya Investment Management LLC boosted its position in Citizens Financial Group by 199.3% in the second quarter. Voya Investment Management LLC now owns 5,276,361 shares of the bank’s stock worth $188,261,000 after purchasing an additional 3,513,196 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Citizens Financial Group by 86.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,148,345 shares of the bank’s stock valued at $119,226,000 after buying an additional 1,462,774 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Citizens Financial Group by 14.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,470,644 shares of the bank’s stock valued at $434,393,000 after buying an additional 1,404,300 shares during the last quarter. Finally, Atlantic Trust Group LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter valued at $50,596,000. 98.48% of the stock is currently owned by hedge funds and other institutional investors.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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