Citizens Financial Group, Inc. (NYSE:CFG) – Stock analysts at Wedbush increased their Q3 2021 earnings per share (EPS) estimates for shares of Citizens Financial Group in a report issued on Tuesday, July 20th. Wedbush analyst P. Winter now forecasts that the bank will post earnings per share of $1.23 for the quarter, up from their prior forecast of $1.18. Wedbush also issued estimates for Citizens Financial Group’s Q4 2021 earnings at $1.19 EPS, FY2021 earnings at $5.26 EPS, Q2 2022 earnings at $1.14 EPS, Q3 2022 earnings at $1.17 EPS and FY2022 earnings at $4.56 EPS.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Monday, July 19th. The bank reported $1.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.33. Citizens Financial Group had a net margin of 28.12% and a return on equity of 10.11%. During the same quarter last year, the business earned $0.53 earnings per share.
CFG stock opened at $44.00 on Thursday. The company’s fifty day simple moving average is $47.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.91 and a quick ratio of 0.89. Citizens Financial Group has a fifty-two week low of $23.46 and a fifty-two week high of $51.14. The firm has a market cap of $18.74 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.23 and a beta of 1.78.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in Citizens Financial Group by 1,424.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,059,647 shares of the bank’s stock valued at $488,283,000 after buying an additional 10,334,260 shares during the period. Norges Bank acquired a new stake in shares of Citizens Financial Group in the 4th quarter valued at approximately $166,208,000. Amundi Asset Management US Inc. boosted its stake in Citizens Financial Group by 358.3% during the 1st quarter. Amundi Asset Management US Inc. now owns 5,451,067 shares of the bank’s stock worth $240,663,000 after acquiring an additional 4,261,604 shares during the last quarter. Morgan Stanley grew its holdings in Citizens Financial Group by 32.5% during the first quarter. Morgan Stanley now owns 12,394,411 shares of the bank’s stock valued at $547,212,000 after purchasing an additional 3,038,621 shares during the period. Finally, Royal Bank of Canada increased its stake in Citizens Financial Group by 109.4% in the first quarter. Royal Bank of Canada now owns 4,565,468 shares of the bank’s stock valued at $201,564,000 after purchasing an additional 2,385,667 shares in the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 13th. Investors of record on Friday, July 30th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, July 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.55%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 64.73%.
Citizens Financial Group Company Profile
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses.
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