Citizens Financial Group, Inc. (NYSE:CFG) – Investment analysts at Jefferies Group issued their Q1 2018 EPS estimates for Citizens Financial Group in a research note issued on Tuesday. Jefferies Group analyst K. Usdin forecasts that the bank will post earnings per share of $0.62 for the quarter. Jefferies Group also issued estimates for Citizens Financial Group’s Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.68 EPS and Q4 2018 earnings at $0.73 EPS.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Citizens Financial Group had a net margin of 19.86% and a return on equity of 6.08%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year.
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Several other research analysts have also commented on the company. Citigroup Inc. reaffirmed a “neutral” rating and set a $42.00 price target (up previously from $38.00) on shares of Citizens Financial Group in a research report on Monday. Bank of America Corporation reaffirmed an “underperform” rating and set a $40.00 price target (down previously from $41.00) on shares of Citizens Financial Group in a research report on Monday, October 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $36.00 price target (up previously from $34.00) on shares of Citizens Financial Group in a research report on Tuesday, September 26th. Zacks Investment Research raised Citizens Financial Group from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, September 25th. Finally, Sanford C. Bernstein raised Citizens Financial Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $38.00 to $43.00 in a research report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.12.
Citizens Financial Group (NYSE CFG) traded up 0.43% during trading on Wednesday, hitting $37.32. 1,359,086 shares of the stock traded hands. The company has a market cap of $18.69 billion, a P/E ratio of 15.94 and a beta of 1.37. The company’s 50 day moving average price is $35.37 and its 200 day moving average price is $35.33. Citizens Financial Group has a 12 month low of $24.43 and a 12 month high of $39.75.
Citizens Financial Group announced that its board has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $850.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Citizens Financial Group by 4.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock valued at $40,426,000 after purchasing an additional 47,855 shares during the period. Intrust Bank NA acquired a new position in shares of Citizens Financial Group in the second quarter valued at approximately $267,000. Lazard Asset Management LLC increased its holdings in shares of Citizens Financial Group by 16,695.7% in the second quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock valued at $99,167,000 after purchasing an additional 2,762,808 shares during the period. Todd Asset Management LLC increased its holdings in shares of Citizens Financial Group by 33.4% in the second quarter. Todd Asset Management LLC now owns 1,819,023 shares of the bank’s stock valued at $64,903,000 after purchasing an additional 455,476 shares during the period. Finally, PICTET BANK & TRUST Ltd acquired a new position in shares of Citizens Financial Group in the second quarter valued at approximately $1,629,000. 96.76% of the stock is currently owned by institutional investors and hedge funds.
About Citizens Financial Group
Citizens Financial Group, Inc is a retail bank holding company. The Company operates through two segments: Consumer Banking and Commercial Banking. Its Consumer Banking serves retail customers and small businesses. Consumer Banking products and services include deposit products, mortgage and home equity lending, auto financing, student loans, personal unsecured lines and loans, credit cards, business loans, wealth management and investment services.
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