Citizens Financial Group Inc (CFG) to Post FY2018 Earnings of $3.51 Per Share, Wedbush Forecasts

Citizens Financial Group Inc (NYSE:CFG) – Equities research analysts at Wedbush raised their FY2018 earnings estimates for shares of Citizens Financial Group in a research note issued on Sunday, October 21st. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $3.51 per share for the year, up from their previous estimate of $3.49. Wedbush also issued estimates for Citizens Financial Group’s Q4 2018 earnings at $0.95 EPS and FY2020 earnings at $4.19 EPS.

Other equities research analysts also recently issued research reports about the company. Macquarie raised Citizens Financial Group from an “underperform” rating to a “neutral” rating and set a $38.00 target price on the stock in a report on Monday. ValuEngine raised Citizens Financial Group from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, July 24th. Bank of America raised Citizens Financial Group from an “underperform” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Monday. Finally, BMO Capital Markets reduced their target price on Citizens Financial Group from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.09.

Shares of CFG stock opened at $35.77 on Tuesday. The firm has a market capitalization of $17.24 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.72 and a beta of 1.38. Citizens Financial Group has a fifty-two week low of $34.88 and a fifty-two week high of $48.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.98 and a current ratio of 1.00.

Citizens Financial Group (NYSE:CFG) last issued its earnings results on Friday, October 19th. The bank reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Citizens Financial Group had a return on equity of 8.11% and a net margin of 27.12%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS.

Several institutional investors and hedge funds have recently made changes to their positions in CFG. LSV Asset Management lifted its stake in shares of Citizens Financial Group by 51.7% in the 2nd quarter. LSV Asset Management now owns 7,513,125 shares of the bank’s stock valued at $292,260,000 after acquiring an additional 2,561,477 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Citizens Financial Group by 51.9% in the 3rd quarter. Bank of Montreal Can now owns 5,312,122 shares of the bank’s stock valued at $204,888,000 after acquiring an additional 1,815,395 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Citizens Financial Group by 30.8% in the 2nd quarter. Janus Henderson Group PLC now owns 4,493,533 shares of the bank’s stock valued at $174,800,000 after acquiring an additional 1,058,650 shares during the last quarter. Unigestion Holding SA bought a new position in shares of Citizens Financial Group in the 2nd quarter valued at $39,051,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of Citizens Financial Group by 332.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,127,049 shares of the bank’s stock valued at $43,842,000 after acquiring an additional 866,396 shares during the last quarter. Institutional investors own 97.65% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, October 31st will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Tuesday, October 30th. Citizens Financial Group’s payout ratio is 41.86%.

Citizens Financial Group Company Profile

Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.

Read More: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Earnings History and Estimates for Citizens Financial Group (NYSE:CFG)

Receive News & Ratings for Citizens Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citizens Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply