Citizens Financial Group Inc to Post FY2018 Earnings of $3.52 Per Share, Piper Jaffray Companies Forecasts (CFG)

Citizens Financial Group Inc (NYSE:CFG) – Analysts at Piper Jaffray Companies raised their FY2018 EPS estimates for shares of Citizens Financial Group in a research note issued to investors on Tuesday, December 4th. Piper Jaffray Companies analyst K. Barker now expects that the bank will earn $3.52 per share for the year, up from their previous forecast of $3.50. Piper Jaffray Companies also issued estimates for Citizens Financial Group’s Q4 2018 earnings at $0.95 EPS, Q2 2019 earnings at $0.96 EPS, Q3 2019 earnings at $1.00 EPS, Q4 2019 earnings at $0.96 EPS, Q1 2020 earnings at $0.90 EPS, Q2 2020 earnings at $1.03 EPS and Q3 2020 earnings at $1.10 EPS.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 19th. The bank reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Tuesday, November 27th. Macquarie raised shares of Citizens Financial Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 27th. BMO Capital Markets reduced their price objective on shares of Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Bank of America raised shares of Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Monday, October 22nd. Finally, ValuEngine downgraded shares of Citizens Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.64.

Shares of Citizens Financial Group stock opened at $33.78 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.79. The firm has a market cap of $16.11 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.63 and a beta of 1.24. Citizens Financial Group has a 12-month low of $33.00 and a 12-month high of $48.23.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, October 30th. Citizens Financial Group’s dividend payout ratio is presently 41.86%.

In other Citizens Financial Group news, Director Shivan S. Subramaniam bought 3,000 shares of Citizens Financial Group stock in a transaction dated Wednesday, November 21st. The shares were purchased at an average cost of $35.32 per share, with a total value of $105,960.00. Following the transaction, the director now directly owns 38,963 shares of the company’s stock, valued at $1,376,173.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles John Koch bought 14,000 shares of Citizens Financial Group stock in a transaction dated Tuesday, October 23rd. The stock was acquired at an average cost of $36.32 per share, for a total transaction of $508,480.00. Following the completion of the transaction, the director now directly owns 49,937 shares in the company, valued at $1,813,711.84. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CFG. Migdal Insurance & Financial Holdings Ltd. grew its position in Citizens Financial Group by 8,430.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,815 shares of the bank’s stock valued at $110,000 after purchasing an additional 2,782 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Citizens Financial Group during the 3rd quarter valued at about $113,000. Synovus Financial Corp lifted its stake in Citizens Financial Group by 67.3% during the 3rd quarter. Synovus Financial Corp now owns 3,524 shares of the bank’s stock valued at $137,000 after acquiring an additional 1,417 shares during the period. Acadian Asset Management LLC bought a new position in Citizens Financial Group during the 3rd quarter valued at about $158,000. Finally, Csenge Advisory Group bought a new position in Citizens Financial Group during the 3rd quarter valued at about $172,000. 96.09% of the stock is currently owned by institutional investors.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

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Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

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