Wedbush Comments on Citizens Financial Group, Inc.'s FY2024 Earnings (NYSE:CFG)

Citizens Financial Group, Inc. (NYSE:CFG - Free Report) - Investment analysts at Wedbush reduced their FY2024 EPS estimates for Citizens Financial Group in a research report issued to clients and investors on Wednesday, April 17th. Wedbush analyst D. Chiaverini now forecasts that the bank will earn $3.27 per share for the year, down from their previous forecast of $3.35. Wedbush currently has a "Neutral" rating and a $35.00 price objective on the stock. The consensus estimate for Citizens Financial Group's current full-year earnings is $3.25 per share. Wedbush also issued estimates for Citizens Financial Group's Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.90 EPS.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Wednesday, April 17th. The bank reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). Citizens Financial Group had a net margin of 11.52% and a return on equity of 6.62%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the company posted $1.00 EPS. Citizens Financial Group's quarterly revenue was down 7.9% compared to the same quarter last year.

Several other equities research analysts have also recently issued reports on CFG. Royal Bank of Canada raised their price target on shares of Citizens Financial Group from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, January 18th. TheStreet upgraded Citizens Financial Group from a "c+" rating to a "b-" rating in a report on Tuesday, December 26th. UBS Group increased their price target on Citizens Financial Group from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, January 18th. Evercore ISI lifted their price objective on Citizens Financial Group from $35.00 to $39.00 and gave the company an "in-line" rating in a research report on Thursday, March 28th. Finally, Morgan Stanley upped their target price on Citizens Financial Group from $31.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $36.29.

Citizens Financial Group Price Performance

Citizens Financial Group stock traded up $1.09 during midday trading on Friday, reaching $33.99. 7,999,178 shares of the company were exchanged, compared to its average volume of 5,923,239. The firm's 50-day simple moving average is $33.33 and its 200-day simple moving average is $30.63. Citizens Financial Group has a 1 year low of $22.77 and a 1 year high of $36.38. The company has a market capitalization of $15.58 billion, a price-to-earnings ratio of 12.32 and a beta of 1.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 0.87.

Citizens Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Tuesday, April 30th. Citizens Financial Group's payout ratio is 60.87%.

Insider Activity at Citizens Financial Group

In other Citizens Financial Group news, insider Craig Jack Read sold 4,508 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $33.54, for a total value of $151,198.32. Following the completion of the transaction, the insider now owns 43,885 shares in the company, valued at approximately $1,471,902.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.62% of the company's stock.

Hedge Funds Weigh In On Citizens Financial Group

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Citizens Financial Group by 23.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,537 shares of the bank's stock valued at $478,000 after purchasing an additional 1,980 shares in the last quarter. American Century Companies Inc. raised its holdings in Citizens Financial Group by 29.7% in the first quarter. American Century Companies Inc. now owns 53,879 shares of the bank's stock valued at $2,442,000 after acquiring an additional 12,350 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Citizens Financial Group by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 57,027 shares of the bank's stock valued at $2,585,000 after acquiring an additional 3,531 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Citizens Financial Group by 9.3% during the 1st quarter. Yousif Capital Management LLC now owns 71,237 shares of the bank's stock valued at $3,229,000 after acquiring an additional 6,060 shares during the last quarter. Finally, Blair William & Co. IL grew its holdings in Citizens Financial Group by 1.5% during the 1st quarter. Blair William & Co. IL now owns 38,619 shares of the bank's stock worth $1,751,000 after acquiring an additional 586 shares in the last quarter. Institutional investors and hedge funds 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.