Citizens Financial Group, Inc. (NYSE:CFG) Q3 2024 Earnings Conference Call October 16, 2024 9:00 AM ET Company Participants Kristin Silberberg - Executive Vice President, Investor Relations Bruce Van Saun - Chairman and Chief Executive Officer John Woods - Chief Financial Officer Brendan Coughlin - Head of Consumer Banking Don McCree - Head of Commercial Banking Conference Call Participants Scott Siefers - Piper Sandler Matt O'Connor - Deutsche Bank John Pancari - Evercore Erika Najarian - UBS Manan Gosalia ...

Citizens Financial Group (CFG) reported $1.9 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.6%. EPS of $0.79 for the same period compares to $0.85 a year ago. The reported revenue represents a surprise of -1.91% over the Zacks Consensus Estimate of $1.94 billion. With the consensus EPS estimate being $0.79, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

Citizens Financial Group (CFG) came out with quarterly earnings of $0.79 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this bank would post earnings of $0.79 per share when it actually produced earnings of $0.78, delivering a surprise of -1.27%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Citizens Financial ...

Financial Supplement Third Quarter 2024 1 | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Core Viewpoint - Analysts forecast a decline in quarterly earnings and revenues for Citizens Financial Group, indicating potential challenges in the company's financial performance [1][2]. Earnings and Revenue Estimates - Citizens Financial Group (CFG) is expected to report earnings of $0.79 per share, reflecting a year-over-year decline of 7.1% [1]. - Anticipated revenues are projected to be $1.94 billion, down 3.8% compared to the same quarter last year [1]. Revisions and Analyst Consensus - The consensus EPS estimate has been revised downward by 1.2% in the past 30 days, indicating a reassessment by analysts [2]. - Analysts emphasize the importance of earnings projection revisions as a predictor of investor behavior and stock price performance [3]. Key Financial Metrics - Book value per common share is estimated to reach $49.07, up from $44.75 a year ago [5]. - Net charge-offs are projected at $177.44 million, compared to $153 million in the same quarter last year [5]. - The consensus for Net Interest Margin is 2.8%, down from 3% a year ago [5]. - Return on average common equity is estimated at 6.6%, down from 7.5% [6]. - Efficiency Ratio is projected to be 65.9%, compared to 64.2% last year [6]. - Average Balances - Total interest-earning assets are expected to be $199.98 billion, slightly up from $199.59 billion a year ago [6]. Capital Ratios - Tangible book value per common share is expected to reach $31.32, up from $27.73 last year [7]. - Common Equity Tier 1 Capital Ratio is projected at 10.7%, compared to 10.4% a year ago [7]. - Tier 1 Leverage Ratio is estimated at 9.3%, down from 9.4% last year [8]. - Tier 1 Capital Ratio is expected to be 11.9%, up from 11.5% a year ago [8]. - Total Capital Ratio is projected at 13.9%, compared to 13.4% last year [9]. Market Performance - CFG shares have returned +4% over the past month, while the Zacks S&P 500 composite has changed by +5.4% [9]. - CFG holds a Zacks Rank 3 (Hold), suggesting it may mirror overall market performance in the near future [10].

Citizens Financial Group (CFG) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

Citizens Financial Group, Inc. (CFG) announced the next stage of its West Coast expansion strategy, which includes the addition of a highly-experienced Private Banking team in Southern California. The bank also revealed plans to open new Private Bank office locations in the region as part of its ongoing efforts to strengthen its presence and serve clients across key California markets. This latest expansion follows the earlier announcements related to Citizens Financial's expansion in California, which high ...

Citizens Financial Group, Inc. (CFG) remains well-poised for growth on the back of rising loans and deposit balances, along with efforts to improve its wealth management offerings. Additionally, strategic initiatives like Tapping Our Potential (TOP) will further support its financials. However, a rising cost base is likely to limit its bottom-line growth, and limited diversification in its loan portfolio presents an additional concern. Key Growth Drivers for CFG Efforts to Improve Wealth Management Unit: Ci ...

Citizens Financial's (CFG) shares have appreciated 28.7% year to date against the industry's decline of 2.4%. The stock also outperformed the S&P 500 Index, which rallied 17.6% in the same frame. Zacks Investment Research Image Source: The company's focus on BSO plans, strategic and efficiency initiatives, and inorganic growth moves continue to aid its financials. Analyst Estimates Over the past month, the Zacks Consensus Estimate for earnings of $3.24 and $3.95 per share has moved 1.6% and 1% upward for 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From (Not Applicable) Commission File Number 001-36636 ...