Zacks Research Has Optimistic Outlook of CFG FY2024 Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Research analysts at Zacks Research boosted their FY2024 earnings estimates for shares of Citizens Financial Group in a report released on Thursday, January 2nd. Zacks Research analyst R. Department now anticipates that the bank will post earnings of $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.

Several other equities research analysts have also weighed in on CFG. Raymond James upgraded Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, December 18th. Citigroup boosted their target price on shares of Citizens Financial Group from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their target price on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Truist Financial started coverage on shares of Citizens Financial Group in a research report on Tuesday. They set a “hold” rating and a $49.00 price target for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Citizens Financial Group from $46.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.78.

Citizens Financial Group Stock Performance

Citizens Financial Group stock opened at $44.78 on Monday. Citizens Financial Group has a fifty-two week low of $30.24 and a fifty-two week high of $49.25. 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 stock’s 50 day simple moving average is $45.37 and its two-hundred day simple moving average is $42.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.86 and a current ratio of 0.87.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, October 16th. The bank reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Citizens Financial Group had a net margin of 10.37% and a return on equity of 5.73%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. Citizens Financial Group’s quarterly revenue was down 5.6% on a year-over-year basis.

Hedge Funds Weigh In On Citizens Financial Group

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

Citizens Financial Group Announces Dividend

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

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.