What is Zacks Research's Estimate for CFG FY2027 Earnings?

Key Points

• Zacks Research has raised its FY2027 earnings estimate for Citizens Financial Group to $6.23 per share, slightly up from the previous forecast of $6.21.
• Several analysts have initiated coverage on CFG, with multiple firms assigning buy ratings and target prices ranging from $53.00 to $61.00.
• The bank has declared a quarterly dividend of $0.42 per share, associated with a yield of 3.2%, and initiated a stock buyback program to repurchase up to $1.50 billion in shares.

Citizens Financial Group, Inc. (NYSE:CFG - Free Report) - Equities research analysts at Zacks Research raised their FY2027 earnings per share (EPS) estimates for Citizens Financial Group in a research note issued to investors on Tuesday, September 16th. Zacks Research analyst Team now expects that the bank will post earnings of $6.23 per share for the year, up from their previous forecast of $6.21. The consensus estimate for Citizens Financial Group's current full-year earnings is $3.92 per share.

Citizens Financial Group (NYSE:CFG - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $2.01 billion. Citizens Financial Group had a return on equity of 6.94% and a net margin of 13.26%.Citizens Financial Group's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share.

Several other research firms have also recently weighed in on CFG. Barclays boosted their price objective on Citizens Financial Group from $49.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Raymond James Financial boosted their price objective on Citizens Financial Group from $48.00 to $57.00 and gave the stock a "strong-buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. raised Citizens Financial Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $48.50 to $52.00 in a research report on Friday, August 1st. UBS Group boosted their price objective on Citizens Financial Group from $50.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, DA Davidson boosted their price objective on Citizens Financial Group from $49.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Citizens Financial Group currently has an average rating of "Moderate Buy" and a consensus target price of $52.35.

Citizens Financial Group Stock Down 1.6%

Shares of NYSE:CFG traded down $0.85 during mid-day trading on Thursday, hitting $52.70. 1,530,619 shares of the company traded hands, compared to its average volume of 4,714,640. The stock has a market cap of $22.73 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. Citizens Financial Group has a 12-month low of $32.60 and a 12-month high of $53.78. The stock has a 50-day moving average price of $49.76 and a two-hundred day moving average price of $43.63.

Citizens Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, July 31st were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $1.68 annualized dividend and a dividend yield of 3.2%. Citizens Financial Group's payout ratio is presently 51.06%.

Citizens Financial Group declared that its board has authorized a stock buyback plan on Friday, June 13th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 8.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Institutional Trading of Citizens Financial Group

Large investors have recently modified their holdings of the company. Heartland Bank & Trust Co bought a new stake in shares of Citizens Financial Group in the first quarter worth $398,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Citizens Financial Group by 19.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,870 shares of the bank's stock valued at $2,248,000 after purchasing an additional 8,851 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Citizens Financial Group by 425.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 26,104 shares of the bank's stock valued at $1,069,000 after purchasing an additional 21,138 shares in the last quarter. World Investment Advisors purchased a new position in Citizens Financial Group during the first quarter valued at $410,000. Finally, OneDigital Investment Advisors LLC lifted its position in Citizens Financial Group by 37.9% during the first quarter. OneDigital Investment Advisors LLC now owns 7,126 shares of the bank's stock valued at $292,000 after purchasing an additional 1,957 shares in the last quarter. Institutional investors 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.