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

Citizens Financial Group, Inc. (NYSE:CFG - Free Report) - Equities researchers at Zacks Research upped their FY2024 earnings estimates for shares of Citizens Financial Group in a report issued on Thursday, January 2nd. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $3.21 for the year, up from their previous estimate of $3.20. 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 $0.81 EPS, Q2 2025 earnings at $0.93 EPS, FY2025 earnings at $3.85 EPS, Q1 2026 earnings at $1.11 EPS, Q2 2026 earnings at $1.19 EPS, Q3 2026 earnings at $1.19 EPS and FY2026 earnings at $4.68 EPS.

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

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of Citizens Financial Group from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on shares of Citizens Financial Group from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Evercore ISI dropped their target price on shares of Citizens Financial Group from $47.00 to $46.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 2nd. DA Davidson upped their target price on Citizens Financial Group from $46.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, Barclays lifted their price target on Citizens Financial Group from $47.00 to $52.00 and gave the stock an "equal weight" rating in a report on Monday. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.71.

Citizens Financial Group Stock Up 0.6 %

Shares of NYSE:CFG traded up $0.26 during mid-day trading on Monday, hitting $44.82. 4,662,548 shares of the company traded hands, compared to its average volume of 3,321,616. The stock has a 50-day moving average price of $45.28 and a two-hundred day moving average price of $42.00. Citizens Financial Group has a 12-month low of $30.24 and a 12-month high of $49.25. The stock has a market cap of $19.75 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.76 and a beta of 1.10. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.61.

Citizens Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, October 30th were given a dividend of $0.42 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.68 annualized dividend and a dividend yield of 3.75%. Citizens Financial Group's dividend payout ratio is currently 66.14%.

Hedge Funds Weigh In On Citizens Financial Group

Large investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in Citizens Financial Group by 6.7% during the 3rd quarter. State Street Corp now owns 25,826,368 shares of the bank's stock valued at $1,060,689,000 after buying an additional 1,615,144 shares in the last quarter. Wellington Management Group LLP grew its stake in Citizens Financial Group by 207.2% during the third quarter. Wellington Management Group LLP now owns 8,272,043 shares of the bank's stock valued at $339,733,000 after acquiring an additional 5,579,313 shares in the last quarter. LSV Asset Management increased its holdings in Citizens Financial Group by 1.8% during the 2nd quarter. LSV Asset Management now owns 6,580,797 shares of the bank's stock worth $237,106,000 after acquiring an additional 113,300 shares during the period. Nordea Investment Management AB lifted its stake in Citizens Financial Group by 19.3% in the 4th quarter. Nordea Investment Management AB now owns 4,974,434 shares of the bank's stock worth $217,781,000 after purchasing an additional 805,758 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Citizens Financial Group by 15.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,429,264 shares of the bank's stock valued at $159,550,000 after purchasing an additional 587,115 shares during the period. 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.