Brokerages predict that Citizens Financial Group Inc (NYSE:CFG) will report sales of $1.61 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Citizens Financial Group’s earnings, with estimates ranging from $1.60 billion to $1.61 billion. Citizens Financial Group reported sales of $1.48 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 8.8%. The firm is scheduled to announce its next quarterly earnings report on Friday, January 18th.
On average, analysts expect that Citizens Financial Group will report full year sales of $6.14 billion for the current year, with estimates ranging from $6.13 billion to $6.15 billion. For the next year, analysts forecast that the firm will post sales of $6.53 billion, with estimates ranging from $6.48 billion to $6.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Citizens Financial Group.
Citizens Financial Group (NYSE:CFG) last posted its quarterly earnings results on Friday, October 19th. The bank reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. Citizens Financial Group had a net margin of 27.12% and a return on equity of 8.11%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.
Shares of NYSE:CFG traded down $0.72 during trading on Tuesday, reaching $35.23. 5,541,000 shares of the stock traded hands, compared to its average volume of 4,659,816. Citizens Financial Group has a 52-week low of $34.88 and a 52-week high of $48.23. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.79. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.67 and a beta of 1.25.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, October 31st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.07%. The ex-dividend date was Tuesday, October 30th. Citizens Financial Group’s dividend payout ratio is currently 41.86%.
In related news, Director Charles John Koch bought 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were bought at an average price of $36.32 per share, for a total transaction of $508,480.00. Following the completion of the acquisition, the director now owns 49,937 shares of the company’s stock, valued at approximately $1,813,711.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. purchased a new position in shares of Citizens Financial Group during the 2nd quarter worth $102,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Citizens Financial Group by 8,430.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,815 shares of the bank’s stock worth $110,000 after acquiring an additional 2,782 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth $113,000. Synovus Financial Corp boosted its stake in shares of Citizens Financial Group by 67.3% during the 3rd quarter. Synovus Financial Corp now owns 3,524 shares of the bank’s stock worth $137,000 after acquiring an additional 1,417 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Citizens Financial Group during the 3rd quarter worth $158,000. Institutional investors own 97.73% of the company’s stock.
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.
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