DA Davidson Issues Negative Estimate for CFG Earnings

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at DA Davidson dropped their Q4 2024 earnings per share (EPS) estimates for Citizens Financial Group in a research note issued to investors on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $0.84 per share for the quarter, down from their previous forecast of $0.85. DA Davidson currently has a “Buy” rating and a $48.00 target price on the stock. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.20 per share.

CFG has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their price target on Citizens Financial Group from $46.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Compass Point lifted their target price on Citizens Financial Group from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. StockNews.com raised Citizens Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James upgraded shares of Citizens Financial Group from a “market perform” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research note on Wednesday. Eight equities research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.41.

Citizens Financial Group Trading Down 0.5 %

NYSE:CFG opened at $42.45 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. Citizens Financial Group has a one year low of $30.24 and a one year high of $49.25. The company has a market cap of $18.71 billion, a PE ratio of 16.71, a PEG ratio of 1.76 and a beta of 1.08. The firm has a 50-day moving average of $44.92 and a 200-day moving average of $41.18.

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

Citizens Financial Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.96%. Citizens Financial Group’s payout ratio is 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Several large investors have recently added to or reduced their stakes in CFG. Costello Asset Management INC purchased a new position in Citizens Financial Group in the 3rd quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new position in shares of Citizens Financial Group in the third quarter worth $27,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Citizens Financial Group in the third quarter worth $28,000. Innealta Capital LLC purchased a new stake in shares of Citizens Financial Group in the second quarter worth $25,000. Finally, Private Ocean LLC boosted its stake in Citizens Financial Group by 484.4% during the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after buying an additional 838 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.

About Citizens Financial Group

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.