Zacks Research Issues Optimistic Forecast for CFG Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Equities research analysts at Zacks Research increased their FY2024 earnings estimates for Citizens Financial Group in a report issued on Thursday, January 2nd. Zacks Research analyst R. Department now anticipates that the bank will earn $3.21 per share for the year, up from their prior estimate of $3.20. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Citizens Financial Group’s Q4 2024 earnings at $0.81 EPS, Q2 2025 earnings at $0.93 EPS, FY2025 earnings at $3.85 EPS, Q1 2026 earnings at $1.11 EPS, Q2 2026 earnings at $1.19 EPS, Q3 2026 earnings at $1.19 EPS and FY2026 earnings at $4.68 EPS.

CFG has been the subject of several other reports. Royal Bank of Canada increased their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup increased their price objective on shares of Citizens Financial Group from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Evercore ISI lowered their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 2nd. Compass Point increased their price target on Citizens Financial Group from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group raised their price target on Citizens Financial Group from $48.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.78.

Citizens Financial Group Stock Performance

Shares of CFG opened at $44.78 on Monday. Citizens Financial Group has a 52 week low of $30.24 and a 52 week high of $49.25. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.76 and a beta of 1.10. The business has a 50-day simple moving average of $45.37 and a two-hundred day simple moving average of $42.15.

Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. Citizens Financial Group had a return on equity of 5.73% and a net margin of 10.37%. Citizens Financial Group’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS.

Citizens Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.75%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Hedge funds have recently bought and sold shares of the business. Versor Investments LP purchased a new position in shares of Citizens Financial Group in the 3rd quarter worth $1,910,000. Quantbot Technologies LP bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at about $5,009,000. Franklin Resources Inc. grew its position in Citizens Financial Group by 4.8% in the third quarter. Franklin Resources Inc. now owns 655,600 shares of the bank’s stock worth $28,368,000 after acquiring an additional 29,940 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in Citizens Financial Group during the third quarter worth approximately $590,000. Finally, Pathstone Holdings LLC raised its position in Citizens Financial Group by 7.7% during the third quarter. Pathstone Holdings LLC now owns 154,546 shares of the bank’s stock valued at $6,347,000 after purchasing an additional 11,044 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

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.