Citizens Financial Group, Inc. (NYSE:CFG) – Equities researchers at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for shares of Citizens Financial Group in a note issued to investors on Tuesday. Jefferies Group analyst K. Usdin forecasts that the bank will post earnings of $0.62 per share 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.
Several other equities research analysts have also recently issued reports on CFG. Citigroup Inc. restated a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Citizens Financial Group in a report on Thursday, June 22nd. TheStreet cut Citizens Financial Group from a “b-” rating to a “c” rating in a report on Monday, June 26th. Zacks Investment Research upgraded Citizens Financial Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, July 4th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Citizens Financial Group in a report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $37.12.
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Shares of Citizens Financial Group (CFG) traded down 0.35% during trading on Wednesday, hitting $37.32. The stock had a trading volume of 929,529 shares. The stock’s 50 day moving average is $35.26 and its 200-day moving average is $35.31. Citizens Financial Group has a 12-month low of $24.22 and a 12-month high of $39.75. The company has a market cap of $18.69 billion, a PE ratio of 15.94 and a beta of 1.37.
Citizens Financial Group (NYSE:CFG) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Citizens Financial Group had a return on equity of 6.08% and a net margin of 19.86%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company posted $0.46 EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis.
Institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Citizens Financial Group by 4.4% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,133,028 shares of the bank’s stock worth $40,426,000 after purchasing an additional 47,855 shares in the last quarter. Intrust Bank NA acquired a new position in shares of Citizens Financial Group during the second quarter worth about $267,000. Lazard Asset Management LLC lifted its stake in shares of Citizens Financial Group by 16,695.7% during the second quarter. Lazard Asset Management LLC now owns 2,779,356 shares of the bank’s stock worth $99,167,000 after purchasing an additional 2,762,808 shares in the last quarter. Todd Asset Management LLC lifted its stake in shares of Citizens Financial Group by 33.4% during the second quarter. Todd Asset Management LLC now owns 1,819,023 shares of the bank’s stock worth $64,903,000 after purchasing an additional 455,476 shares in the last quarter. Finally, PICTET BANK & TRUST Ltd acquired a new position in shares of Citizens Financial Group during the second quarter worth about $1,629,000. Institutional investors own 96.76% of the company’s stock.
Citizens Financial Group declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to buyback $850.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Citizens Financial Group Company Profile
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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