Analysts expect Citizens Financial Group Inc (NYSE:CFG) to post $1.62 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Citizens Financial Group’s earnings, with estimates ranging from $1.61 billion to $1.63 billion. Citizens Financial Group reported sales of $1.51 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.3%. The firm is expected to issue its next quarterly earnings report on Friday, July 19th.
On average, analysts expect that Citizens Financial Group will report full year sales of $6.53 billion for the current financial year, with estimates ranging from $6.49 billion to $6.59 billion. For the next year, analysts forecast that the business will post sales of $6.77 billion, with estimates ranging from $6.68 billion to $6.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Citizens Financial Group.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Citizens Financial Group had a net margin of 22.96% and a return on equity of 8.88%. During the same period in the previous year, the firm posted $0.78 earnings per share.
Several analysts have weighed in on CFG shares. ValuEngine downgraded shares of Citizens Financial Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Zacks Investment Research downgraded shares of Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. Finally, Wedbush set a $39.00 price objective on shares of Citizens Financial Group and gave the company a “buy” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $41.36.
Citizens Financial Group stock remained flat at $$34.76 during mid-day trading on Thursday. 3,463,276 shares of the company’s stock traded hands, compared to its average volume of 3,907,307. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $15.93 billion, a P/E ratio of 9.76, a PEG ratio of 1.11 and a beta of 1.45. Citizens Financial Group has a 1-year low of $27.62 and a 1-year high of $42.87.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, April 30th. Citizens Financial Group’s dividend payout ratio (DPR) is 35.96%.
Large investors have recently modified their holdings of the company. RKL Wealth Management LLC lifted its stake in shares of Citizens Financial Group by 0.9% in the 4th quarter. RKL Wealth Management LLC now owns 33,064 shares of the bank’s stock valued at $980,000 after purchasing an additional 310 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Citizens Financial Group by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 85,820 shares of the bank’s stock worth $2,552,000 after buying an additional 339 shares during the last quarter. Huntington National Bank increased its position in Citizens Financial Group by 19.1% during the first quarter. Huntington National Bank now owns 2,149 shares of the bank’s stock worth $70,000 after buying an additional 345 shares during the last quarter. CWM LLC increased its position in Citizens Financial Group by 29.3% during the fourth quarter. CWM LLC now owns 1,536 shares of the bank’s stock worth $46,000 after buying an additional 348 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Citizens Financial Group by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 21,187 shares of the bank’s stock worth $630,000 after buying an additional 373 shares during the last quarter. 98.90% of the stock is owned by hedge funds and other institutional investors.
About Citizens Financial Group
Citizens Financial Group, Inc operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking.
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