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Citizens Financial Group, Inc. (NYSE:CFG – Get Rating) – Analysts at Jefferies Financial Group raised their FY2023 EPS estimates for Citizens Financial Group in a research report issued to clients and investors on Tuesday, January 17th. Jefferies Financial Group analyst K. Usdin now anticipates that the bank will post earnings of $5.05 per share for the year, up from their previous forecast of $4.45. The consensus estimate for Citizens Financial Group’s current full-year earnings is $4.31 per share. Jefferies Financial Group also issued estimates for Citizens Financial Group’s Q4 2023 earnings at $1.35 EPS and FY2024 earnings at $4.75 EPS.
Citizens Financial Group (NYSE:CFG – Get Rating) last released its quarterly earnings data on Wednesday, October 19th. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.21 by $0.09. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. Citizens Financial Group had a net margin of 24.05% and a return on equity of 10.88%. During the same period in the previous year, the company earned $1.22 earnings per share.
Several other research firms have also recently weighed in on CFG. Citigroup upped their price objective on shares of Citizens Financial Group to $42.00 in a research report on Tuesday, November 15th. The Goldman Sachs Group cut their price objective on shares of Citizens Financial Group from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Citizens Financial Group from $39.50 to $43.00 in a research report on Wednesday, November 2nd. Wedbush downgraded Citizens Financial Group from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Tuesday, January 3rd. Finally, Wolfe Research boosted their target price on Citizens Financial Group from $33.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, December 1st. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.
Citizens Financial Group Trading Down 1.5 %
Shares of Citizens Financial Group stock opened at $40.27 on Friday. The firm has a 50-day moving average of $40.27 and a 200-day moving average of $38.31. The stock has a market cap of $19.83 billion, a PE ratio of 10.07 and a beta of 1.37. Citizens Financial Group has a 52-week low of $32.65 and a 52-week high of $56.11. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 0.92.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in CFG. Valmark Advisers Inc. boosted its position in shares of Citizens Financial Group by 1.1% during the third quarter. Valmark Advisers Inc. now owns 24,518 shares of the bank’s stock valued at $842,000 after purchasing an additional 272 shares in the last quarter. Leelyn Smith LLC grew its position in Citizens Financial Group by 32.2% in the 2nd quarter. Leelyn Smith LLC now owns 1,150 shares of the bank’s stock worth $41,000 after purchasing an additional 280 shares during the period. Kinneret Advisory LLC increased its position in Citizens Financial Group by 2.3% during the first quarter. Kinneret Advisory LLC now owns 13,296 shares of the bank’s stock valued at $603,000 after acquiring an additional 298 shares during the last quarter. Horan Securities Inc. increased its position in shares of Citizens Financial Group by 5.7% during the 2nd quarter. Horan Securities Inc. now owns 5,582 shares of the bank’s stock valued at $206,000 after purchasing an additional 299 shares during the last quarter. Finally, Utah Retirement Systems raised its position in Citizens Financial Group by 0.3% in the third quarter. Utah Retirement Systems now owns 87,352 shares of the bank’s stock worth $3,001,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 88.96% of the company’s stock.
Citizens Financial Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Tuesday, January 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Monday, January 30th. Citizens Financial Group’s dividend payout ratio is currently 42.00%.
Citizens Financial Group Company Profile
(Get Rating)
Citizens Financial Group, Inc engages in the provision of commercial banking services. It operates through the Consumer Banking and Commercial Banking segments. The Consumer Banking segment includes deposit products, mortgage and home equity lending, student loans, auto financing, credit cards, business loans, and wealth management and investment services.
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