Wedbush Comments on Citizens Financial Group, Inc.’s Q3 2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG) – Equities research analysts at Wedbush decreased their Q3 2024 EPS estimates for shares of Citizens Financial Group in a research note 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 forecast 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’s Q4 2024 earnings at $0.87 EPS, FY2024 earnings at $3.26 EPS, Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.00 EPS, FY2025 earnings at $3.80 EPS and FY2026 earnings at $4.95 EPS.

Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Wednesday, July 17th. The bank reported $0.78 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.01). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.95 billion. Citizens Financial Group had a net margin of 10.74% and a return on equity of 6.21%. Citizens Financial Group’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 EPS.

Several other research firms have also recently issued reports on CFG. Stephens increased their price target on Citizens Financial Group from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Evercore ISI boosted their price target 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, June 25th. Piper Sandler increased their price objective on shares of Citizens Financial Group from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price objective on shares of Citizens Financial Group from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Keefe, Bruyette & Woods upped their target price on Citizens Financial Group from $39.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.20.

Citizens Financial Group Stock Up 0.7 %

CFG opened at $40.51 on Wednesday. The stock’s 50 day moving average price is $41.18 and its 200 day moving average price is $37.28. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $18.43 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.43 and a beta of 1.08. Citizens Financial Group has a 12 month low of $22.77 and a 12 month high of $43.96.

Citizens Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.15%. The ex-dividend date was Wednesday, July 31st. Citizens Financial Group’s dividend 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 business’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 transaction, the insider now owns 33,620 shares in the company, valued at $1,454,401.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new position in Citizens Financial Group during the second quarter worth $25,000. Versant Capital Management Inc raised its stake in shares of Citizens Financial Group by 262.8% in 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 in the last quarter. Private Ocean LLC raised its stake in shares of Citizens Financial Group by 484.4% in the 2nd 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 lifted its holdings in Citizens Financial Group by 183.1% in the 4th quarter. Quarry LP now owns 1,104 shares of the bank’s stock worth $37,000 after purchasing an additional 714 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Citizens Financial Group during the second quarter worth approximately $48,000. Institutional investors own 94.90% of the company’s stock.

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.