DA Davidson Weighs in on Citizens Financial Group, Inc.’s Q2 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for Citizens Financial Group in a research note issued to investors on Thursday, April 18th. DA Davidson analyst P. Winter expects that the bank will post earnings of $0.79 per share for the quarter. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.25 per share. DA Davidson also issued estimates for Citizens Financial Group’s FY2025 earnings at $4.09 EPS.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $1.00 EPS. The business’s revenue was down 7.9% compared to the same quarter last year.

Several other research firms also recently weighed in on CFG. StockNews.com raised shares of Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Friday. Jefferies Financial Group upped their price objective on shares of Citizens Financial Group from $35.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Barclays downgraded shares of Citizens Financial Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $38.00 to $40.00 in a report on Tuesday, January 2nd. Royal Bank of Canada upped their price objective on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Finally, Evercore ISI upped their price objective on shares of Citizens Financial Group from $35.00 to $39.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.29.

Citizens Financial Group Stock Performance

Shares of CFG opened at $33.99 on Friday. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38. The firm has a fifty day moving average of $33.33 and a 200-day moving average of $30.63. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 0.87.

Citizens Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 4.94%. Citizens Financial Group’s payout ratio is presently 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total transaction of $151,198.32. Following the sale, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Citizens Financial Group

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new position in shares of Citizens Financial Group in the 4th quarter valued at about $1,959,000. Alps Advisors Inc. increased its holdings in shares of Citizens Financial Group by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 12,212 shares of the bank’s stock valued at $327,000 after purchasing an additional 2,992 shares during the period. ANTIPODES PARTNERS Ltd increased its holdings in shares of Citizens Financial Group by 49.9% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,296,648 shares of the bank’s stock valued at $42,970,000 after purchasing an additional 431,624 shares during the period. SeaTown Holdings Pte. Ltd. increased its holdings in shares of Citizens Financial Group by 3,222.9% in the 3rd quarter. SeaTown Holdings Pte. Ltd. now owns 1,163,000 shares of the bank’s stock valued at $31,168,000 after purchasing an additional 1,128,000 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Citizens Financial Group by 1.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 280,574 shares of the bank’s stock valued at $7,373,000 after purchasing an additional 4,988 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.

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.