DA Davidson Issues Pessimistic Outlook for CFG Earnings

Citizens Financial Group, Inc. (NYSE:CFG - Free Report) - Equities research analysts at DA Davidson cut their FY2024 earnings estimates for shares of Citizens Financial Group in a note issued to investors on Thursday, October 17th. DA Davidson analyst P. Winter now expects that the bank will earn $3.24 per share for the year, down from their previous forecast of $3.27. 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 $3.22 per share. DA Davidson also issued estimates for Citizens Financial Group's Q4 2024 earnings at $0.85 EPS and FY2025 earnings at $3.89 EPS.

A number of other equities research analysts have also issued reports on the company. StockNews.com raised Citizens Financial Group from a "sell" rating to a "hold" rating in a research note on Thursday. Morgan Stanley increased their price target on shares of Citizens Financial Group from $41.00 to $50.00 and gave the stock an "equal weight" rating in a report on Monday, August 5th. Barclays lifted their price target on Citizens Financial Group from $40.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday. Keefe, Bruyette & Woods increased their price objective on Citizens Financial Group from $42.00 to $46.00 and gave the company a "market perform" rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group lifted their price objective on Citizens Financial Group from $43.00 to $49.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. 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.com, the company presently has a consensus rating of "Hold" and an average price target of $43.80.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded up $0.34 during trading hours on Friday, hitting $42.47. The company's stock had a trading volume of 5,507,530 shares, compared to its average volume of 5,389,092. The company has a market cap of $19.32 billion, a PE ratio of 15.39, a PEG ratio of 1.42 and a beta of 1.07. The business has a 50 day moving average price of $41.27 and a two-hundred day moving average price of $38.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.86 and a current ratio of 0.87. Citizens Financial Group has a 12-month low of $22.77 and a 12-month high of $44.39.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The bank reported $0.79 earnings per share for the quarter, meeting analysts' consensus estimates of $0.79. Citizens Financial Group had a return on equity of 6.21% and a net margin of 10.74%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company earned $0.85 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.96%. Citizens Financial Group's payout ratio is currently 60.87%.

Insider Buying and Selling

In other Citizens Financial Group 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 sale, the insider now owns 33,620 shares in the company, valued at approximately $1,454,401.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.62% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in Citizens Financial Group in the second quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in Citizens Financial Group by 262.8% during the 2nd quarter. Versant Capital Management Inc now owns 936 shares of the bank's stock valued at $34,000 after acquiring an additional 678 shares during the period. Private Ocean LLC lifted its holdings in shares of Citizens Financial Group by 484.4% during the 2nd 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. Friedenthal Financial purchased a new position in shares of Citizens Financial Group in the third quarter worth approximately $50,000. Finally, Claro Advisors LLC bought a new stake in Citizens Financial Group during the third quarter valued at about $50,000. 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.