FY2018 EPS Estimates for Citizens Financial Group Inc Reduced by Analyst (CFG)

Citizens Financial Group Inc (NYSE:CFG) – Jefferies Financial Group cut their FY2018 earnings estimates for shares of Citizens Financial Group in a research report issued on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now expects that the bank will earn $3.53 per share for the year, down from their prior forecast of $3.55. Jefferies Financial Group also issued estimates for Citizens Financial Group’s Q4 2018 earnings at $0.95 EPS, Q3 2019 earnings at $0.96 EPS, Q4 2019 earnings at $0.95 EPS and FY2019 earnings at $3.70 EPS.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.

Several other analysts also recently issued reports on the stock. Citigroup raised shares of Citizens Financial Group from a “neutral” rating to a “buy” rating and cut their target price for the company from $41.00 to $37.00 in a research note on Wednesday. Goldman Sachs Group raised shares of Citizens Financial Group to a “buy” rating and cut their target price for the company from $44.00 to $40.00 in a research note on Monday. Barclays cut their target price on shares of Citizens Financial Group from $51.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. Royal Bank of Canada raised shares of Citizens Financial Group from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research reissued a “buy” rating and set a $32.00 target price on shares of Citizens Financial Group in a research note on Monday, December 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $41.46.

Shares of NYSE:CFG opened at $32.24 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 1.00. Citizens Financial Group has a 12-month low of $27.62 and a 12-month high of $48.23. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 0.54 and a beta of 1.37.

Hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors bought a new stake in Citizens Financial Group during the third quarter valued at about $113,000. Synovus Financial Corp boosted its holdings in Citizens Financial Group by 67.3% during the third 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 stake in Citizens Financial Group during the third quarter valued at about $158,000. Csenge Advisory Group bought a new stake in Citizens Financial Group during the third quarter valued at about $172,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Citizens Financial Group by 80.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,091 shares of the bank’s stock valued at $196,000 after acquiring an additional 2,276 shares during the period. Institutional investors own 96.05% of the company’s stock.

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

About Citizens Financial Group

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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