Q2 2018 Earnings Estimate for Citizens Financial Group Issued By Wedbush (CFG)

Citizens Financial Group (NYSE:CFG) – Research analysts at Wedbush reduced their Q2 2018 earnings per share estimates for shares of Citizens Financial Group in a report released on Sunday, April 22nd. Wedbush analyst P. Winter now anticipates that the bank will post earnings per share of $0.85 for the quarter, down from their prior forecast of $0.86. Wedbush also issued estimates for Citizens Financial Group’s Q3 2018 earnings at $0.90 EPS, Q1 2019 earnings at $0.86 EPS, Q2 2019 earnings at $0.95 EPS, Q3 2019 earnings at $1.01 EPS and Q4 2019 earnings at $1.06 EPS.

Other equities analysts also recently issued reports about the company. Sandler O’Neill upgraded Citizens Financial Group from a “hold” rating to a “buy” rating in a research note on Monday. Citigroup dropped their price target on Citizens Financial Group from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, April 9th. Sanford C. Bernstein set a $52.00 price target on Citizens Financial Group and gave the stock a “buy” rating in a research note on Monday, January 22nd. BMO Capital Markets dropped their price target on Citizens Financial Group from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Zacks Investment Research downgraded Citizens Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Citizens Financial Group currently has an average rating of “Hold” and an average price target of $44.08.

CFG stock opened at $42.27 on Wednesday. The firm has a market capitalization of $20,716.19, a PE ratio of 16.38, a PEG ratio of 0.59 and a beta of 1.41. Citizens Financial Group has a 1 year low of $31.51 and a 1 year high of $48.23. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68.

Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Friday, April 20th. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.02. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. Citizens Financial Group had a return on equity of 7.06% and a net margin of 26.00%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the business posted $0.61 EPS.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 16th. Investors of record on Wednesday, May 2nd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, May 1st. This represents a $0.88 annualized dividend and a yield of 2.08%. Citizens Financial Group’s dividend payout ratio (DPR) is presently 34.11%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its position in Citizens Financial Group by 142.4% during the fourth quarter. Lazard Asset Management LLC now owns 9,027,728 shares of the bank’s stock valued at $378,984,000 after purchasing an additional 5,303,357 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in Citizens Financial Group by 1.7% during the fourth quarter. TIAA CREF Investment Management LLC now owns 6,472,422 shares of the bank’s stock valued at $271,712,000 after purchasing an additional 108,354 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Citizens Financial Group by 165.0% during the fourth quarter. Allianz Asset Management GmbH now owns 4,630,564 shares of the bank’s stock valued at $194,390,000 after purchasing an additional 2,883,422 shares in the last quarter. Teachers Advisors LLC lifted its position in Citizens Financial Group by 6.6% during the fourth quarter. Teachers Advisors LLC now owns 3,759,299 shares of the bank’s stock valued at $157,815,000 after purchasing an additional 232,942 shares in the last quarter. Finally, LSV Asset Management lifted its position in Citizens Financial Group by 5.6% during the fourth quarter. LSV Asset Management now owns 3,419,848 shares of the bank’s stock valued at $143,565,000 after purchasing an additional 182,100 shares in the last quarter. Institutional investors own 97.23% of the company’s stock.

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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.

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

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