Citizens Financial Group, Inc. (NYSE:CFG) to Post Q4 2024 Earnings of $0.95 Per Share, Wedbush Forecasts

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at Wedbush dropped their Q4 2024 earnings per share (EPS) estimates for Citizens Financial Group in a report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.95 for the quarter, down from their previous forecast of $0.98. Wedbush has a “Neutral” rating and a $35.00 price objective on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.20 per share.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group boosted their price target on Citizens Financial Group from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $33.00 to $35.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Citigroup raised Citizens Financial Group from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Monday, February 5th. UBS Group upped their target price on Citizens Financial Group from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Royal Bank of Canada upped their target price on Citizens Financial Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.63.

Citizens Financial Group Stock Up 1.3 %

Citizens Financial Group stock opened at $36.29 on Friday. Citizens Financial Group has a 1-year low of $22.77 and a 1-year high of $36.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $16.64 billion, a PE ratio of 11.67 and a beta of 1.36. The stock’s fifty day moving average is $32.75 and its two-hundred day moving average is $29.80.

Citizens Financial Group (NYSE:CFG) last posted its earnings results on Wednesday, January 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.26). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2 billion. Citizens Financial Group had a return on equity of 7.40% and a net margin of 13.19%. Citizens Financial Group’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS.

Institutional Trading of Citizens Financial Group

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Citizens Financial Group by 4.9% during the 2nd quarter. BlackRock Inc. now owns 60,391,319 shares of the bank’s stock worth $1,575,006,000 after purchasing an additional 2,799,127 shares during the period. Capital International Investors boosted its position in Citizens Financial Group by 3.5% in the 4th quarter. Capital International Investors now owns 35,157,079 shares of the bank’s stock valued at $1,165,106,000 after buying an additional 1,199,158 shares during the last quarter. State Street Corp boosted its position in Citizens Financial Group by 1.0% in the 1st quarter. State Street Corp now owns 25,577,041 shares of the bank’s stock valued at $776,775,000 after buying an additional 241,869 shares during the last quarter. Capital World Investors boosted its position in Citizens Financial Group by 76.0% in the 1st quarter. Capital World Investors now owns 19,002,482 shares of the bank’s stock valued at $861,383,000 after buying an additional 8,203,831 shares during the last quarter. Finally, Morgan Stanley boosted its position in Citizens Financial Group by 18.0% in the 4th quarter. Morgan Stanley now owns 18,297,989 shares of the bank’s stock valued at $720,392,000 after buying an additional 2,785,751 shares during the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Craig Jack Read sold 4,508 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $33.54, for a total transaction of $151,198.32. Following the completion of the sale, the insider now directly owns 43,885 shares of the company’s stock, valued at approximately $1,471,902.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.62% of the stock is owned by corporate insiders.

Citizens Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Wednesday, January 31st were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.63%. Citizens Financial Group’s dividend payout ratio (DPR) is 54.02%.

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.