Equities analysts predict that Citizens Financial Group, Inc. (NYSE:CFG) will report $1.64 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Citizens Financial Group’s earnings. Citizens Financial Group reported sales of $1.75 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.3%. The company is expected to issue its next earnings report before the market opens on Tuesday, July 20th.
According to Zacks, analysts expect that Citizens Financial Group will report full-year sales of $6.64 billion for the current year, with estimates ranging from $6.58 billion to $6.69 billion. For the next financial year, analysts forecast that the company will report sales of $6.78 billion, with estimates ranging from $6.68 billion to $6.87 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Citizens Financial Group.
Citizens Financial Group (NYSE:CFG) last released its quarterly earnings results on Thursday, April 15th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.40. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Citizens Financial Group had a return on equity of 5.30% and a net margin of 13.04%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share.
NYSE:CFG opened at $48.00 on Thursday. Citizens Financial Group has a 12-month low of $18.20 and a 12-month high of $50.35. The company has a current ratio of 0.94, a quick ratio of 0.92 and a debt-to-equity ratio of 0.44. The stock’s 50 day simple moving average is $45.58 and its 200-day simple moving average is $39.38. The firm has a market cap of $20.44 billion, a P/E ratio of 21.62 and a beta of 1.87.
Citizens Financial Group announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 20th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the bank to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 13th. Shareholders of record on Thursday, April 29th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, April 28th. This represents a $1.56 dividend on an annualized basis and a yield of 3.25%. Citizens Financial Group’s dividend payout ratio is currently 40.63%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Citizens Financial Group during the 4th quarter valued at approximately $166,208,000. Morgan Stanley grew its holdings in Citizens Financial Group by 16.0% during the 4th quarter. Morgan Stanley now owns 9,355,790 shares of the bank’s stock worth $334,564,000 after acquiring an additional 1,292,344 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Citizens Financial Group by 75.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 2,726,622 shares of the bank’s stock worth $97,504,000 after purchasing an additional 1,170,998 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of Citizens Financial Group by 56.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 2,906,730 shares of the bank’s stock valued at $103,945,000 after purchasing an additional 1,052,330 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Citizens Financial Group by 954.3% during the first quarter. Assenagon Asset Management S.A. now owns 935,004 shares of the bank’s stock worth $41,280,000 after purchasing an additional 846,323 shares during the last quarter. Hedge funds and other institutional investors own 92.77% of the company’s stock.
About Citizens Financial Group
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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