What is Zacks Research's Estimate for CFG FY2024 Earnings?

Citizens Financial Group, Inc. (NYSE:CFG - Free Report) - Equities research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of Citizens Financial Group in a research note issued on Wednesday, November 6th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $3.20 for the year, up from their previous estimate of $3.14. The consensus estimate for Citizens Financial Group's current full-year earnings is $3.20 per share. Zacks Research also issued estimates for Citizens Financial Group's Q4 2024 earnings at $0.80 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.13 EPS, FY2025 earnings at $3.82 EPS, Q1 2026 earnings at $1.09 EPS, Q2 2026 earnings at $1.16 EPS, Q3 2026 earnings at $1.16 EPS and FY2026 earnings at $4.61 EPS.

Citizens Financial Group (NYSE:CFG - Get Free Report) last posted its quarterly earnings results 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 5.73% and a net margin of 10.37%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the business earned $0.85 earnings per share. The company's revenue for the quarter was down 5.6% compared to the same quarter last year.

CFG has been the topic of a number of other reports. Morgan Stanley lifted their price target on Citizens Financial Group from $41.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their target price on Citizens Financial Group from $43.00 to $49.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. UBS Group boosted their target price on Citizens Financial Group from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. Royal Bank of Canada boosted their target price on Citizens Financial Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, Stephens boosted their price target on Citizens Financial Group from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $43.80.

Citizens Financial Group Price Performance

Shares of Citizens Financial Group stock traded up $0.93 during trading on Monday, reaching $46.74. The company's stock had a trading volume of 1,565,319 shares, compared to its average volume of 5,330,258. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.61. Citizens Financial Group has a 12-month low of $24.73 and a 12-month high of $48.35. The company has a market capitalization of $20.60 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.75 and a beta of 1.07. The business has a 50 day moving average price of $41.73 and a 200-day moving average price of $39.04.

Citizens Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.68 annualized dividend and a yield of 3.59%. Citizens Financial Group's dividend payout ratio is presently 66.14%.

Institutional Investors Weigh In On Citizens Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Citizens Financial Group by 97.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 158,222 shares of the bank's stock worth $6,498,000 after buying an additional 78,245 shares during the period. Moors & Cabot Inc. purchased a new stake in shares of Citizens Financial Group in the third quarter worth about $213,000. Ontario Teachers Pension Plan Board boosted its position in shares of Citizens Financial Group by 16.4% in the third quarter. Ontario Teachers Pension Plan Board now owns 18,205 shares of the bank's stock worth $748,000 after buying an additional 2,569 shares during the period. Commerce Bank boosted its position in shares of Citizens Financial Group by 1.9% in the third quarter. Commerce Bank now owns 13,177 shares of the bank's stock worth $541,000 after buying an additional 250 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Citizens Financial Group in the third quarter worth about $3,761,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

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.