DA Davidson Issues Negative Forecast for CFG Earnings

Citizens Financial Group, Inc. (NYSE:CFG - Free Report) - Stock analysts at DA Davidson dropped their Q4 2024 earnings estimates for Citizens Financial Group in a 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 prior forecast of $0.85. DA Davidson has a "Buy" rating and a $48.00 price objective on the stock. The consensus estimate for Citizens Financial Group's current full-year earnings is $3.20 per share.

A number of other equities research analysts have also recently issued reports on CFG. Royal Bank of Canada boosted their price objective on Citizens Financial Group from $43.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Compass Point boosted their price target on shares of Citizens Financial Group from $45.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $48.00 to $59.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Piper Sandler boosted their target price on shares of Citizens Financial Group from $48.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods increased their target price on Citizens Financial Group from $46.00 to $53.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Citizens Financial Group presently has an average rating of "Moderate Buy" and a consensus price target of $47.41.

Citizens Financial Group Stock Performance

Shares of NYSE CFG traded up $1.00 during trading on Friday, reaching $43.45. 12,713,791 shares of the stock traded hands, compared to its average volume of 5,195,793. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $19.15 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08. Citizens Financial Group has a 52-week low of $30.24 and a 52-week high of $49.25. The company has a 50-day moving average of $44.93 and a 200-day moving average of $41.24.

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

Hedge Funds Weigh In On Citizens Financial Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Citizens Financial Group by 207.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank's stock worth $339,733,000 after purchasing an additional 5,579,313 shares in the last quarter. AQR Capital Management LLC lifted its position in Citizens Financial Group by 61.4% in the 2nd quarter. AQR Capital Management LLC now owns 4,422,948 shares of the bank's stock worth $155,909,000 after buying an additional 1,682,886 shares during the last quarter. State Street Corp boosted its stake in Citizens Financial Group by 6.7% in the third quarter. State Street Corp now owns 25,826,368 shares of the bank's stock worth $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Citizens Financial Group by 85.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,043,650 shares of the bank's stock valued at $83,933,000 after acquiring an additional 942,662 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Citizens Financial Group by 51.1% during the third quarter. Bank of Montreal Can now owns 2,644,542 shares of the bank's stock worth $107,897,000 after acquiring an additional 894,322 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, October 30th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Wednesday, October 30th. Citizens Financial Group's dividend payout ratio is currently 66.14%.

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.