Q3 2024 EPS Estimates for Citizens Financial Group, Inc. Down with Wedbush (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG – Free Report) – Analysts at Wedbush cut their Q3 2024 EPS estimates for Citizens Financial Group in a report issued on Tuesday, September 24th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $0.78 for the quarter, down from their prior estimate of $0.79. The consensus estimate for Citizens Financial Group’s current full-year earnings is $3.24 per share. Wedbush also issued estimates for Citizens Financial Group Q4 2024 earnings at $0.87, FY2024 earnings at $3.26, Q1 2025 earnings at $0.86, Q2 2025 earnings at $0.96, $25 and $25 at $1.00 EPS, FY2025 earnings at $3.80 EPS and FY2026 earnings at $4.95 EPS.

Several other equities research analysts have also recently commented on the stock. Stephens raised their price objective on shares of Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada boosted their price target on Citizens Financial Group from $35.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Raymond James initiated coverage on Citizens Financial Group in a research note on Thursday, July 11th. They have issued a “market perform” rating for the company. Jefferies Financial Group boosted their price target on Citizens Financial Group from $36.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Evercore ISI boosted 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 report on Tuesday, the 25th June. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.20, according to MarketBeat.

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Citizens Financial Group stock fell 1.3%

Shares of CFG opened at $40.24 on Wednesday. The stock has a market cap of $18.04 billion, a PE ratio of 14.55, a price-to-earnings-growth 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. The company has a quick ratio of 0.86, a current ratio of 0.87, and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $41.20 and a 200-day moving average of $37.26.

Citizens Financial Group (NYSE:CFG – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.95 billion. In the same quarter last year, the company posted EPS of $0.92. The company’s revenue for the quarter was down 6.3% year-over-year.

Hedge funds influence the financial pool of citizens

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFG. Inçalta Capital LLC purchased a new position in shares of Citizens Financial Group in the second quarter worth approximately $25,000. Versant Capital Management Inc boosted its holdings in shares of Citizens Financial Group by 262.8% during the second quarter. Versant Capital Management Inc now owns 936 shares of the bank’s stock valued at $34,000 after acquiring an additional 678 shares in the last quarter. Private Ocean LLC increased its position in shares of Citizens Financial Group by 484.4% in the second quarter. Private Ocean LLC now owns 1,011 shares of the bank’s stock valued at $36,000 after acquiring an additional 838 shares in the last quarter. Quarry LP raised its stake in shares of Citizens Financial Group by 183.1% in the fourth quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after acquiring an additional 714 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Citizens Financial Group in the second quarter worth approximately $48,000. 94.90% of shares are held by hedge funds and other institutional investors.

Indoor activity

In related news, insider Craig Jack Read sold 3,938 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $43.26, for a total value of $170,357.88. Following the completion of the transaction, the insider now 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 accessible through the SEC’s website. Insiders own 0.62% of the company’s shares.

Citizens Financial Group announces dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.42 per share. This represents an annualized dividend of $1.68 and a dividend yield of 4.18%. The ex-dividend date of this dividend was Wednesday, July 31st. Citizens Financial Group’s payout ratio is currently 60.87%.

About Citizens Financial Group

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Citizens Financial Group, Inc operates as a bank holding company that provides commercial and retail 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.

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