Zacks Research Weighs in on Citizens Financial Group, Inc.’s FY2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Analysts at Zacks Research increased their FY2024 earnings estimates for Citizens Financial Group in a research note issued on Wednesday, September 25th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $3.14 for the year, up from their prior forecast of $2.96. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Zacks Research also issued estimates for Citizens Financial Group’s Q2 2025 earnings at $0.90 EPS, FY2025 earnings at $3.74 EPS, Q2 2026 earnings at $1.13 EPS and FY2026 earnings at $4.43 EPS.

A number of other analysts have also recently issued reports on CFG. The Goldman Sachs Group raised their target price on shares of Citizens Financial Group from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Raymond James started coverage on shares of Citizens Financial Group in a research note on Thursday, July 11th. They set a “market perform” rating for the company. Evercore ISI raised their target price on shares of Citizens Financial Group from $38.00 to $39.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. UBS Group raised their target price on shares of Citizens Financial Group from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.20.

Citizens Financial Group Stock Performance

NYSE CFG opened at $40.80 on Friday. The firm has a 50-day moving average of $41.17 and a 200-day moving average of $37.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $18.56 billion, a PE ratio of 14.78, a P/E/G ratio of 1.43 and a beta of 1.08. Citizens Financial Group has a 52-week low of $22.77 and a 52-week high of $43.96.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 EPS.

Citizens Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s payout ratio is 60.87%.

Insiders Place Their Bets

In other Citizens Financial Group news, insider Craig Jack Read sold 3,938 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $43.26, for a total transaction of $170,357.88. Following the sale, the insider now directly owns 33,620 shares of the company’s stock, valued at approximately $1,454,401.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Citizens Financial Group by 35.9% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 78,203 shares of the bank’s stock worth $2,838,000 after acquiring an additional 20,649 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Citizens Financial Group by 101.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 761,679 shares of the bank’s stock worth $27,641,000 after purchasing an additional 383,947 shares during the period. Duality Advisers LP acquired a new position in shares of Citizens Financial Group in the 1st quarter worth approximately $1,180,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Citizens Financial Group in the 4th quarter worth approximately $5,965,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Citizens Financial Group in the 1st quarter worth approximately $930,000. 94.90% of the stock is owned by institutional investors.

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.