PROVIDENCE, R.I.--(BUSINESS WIRE)--Citizens Financial Group, Inc. (NYSE: CFG) today unveiled a number of changes aimed at accelerating the growth of its Wealth Management and Private Banking business to serve the entire spectrum of wealth clients, from mass affluent to ultra-high net worth and family offices. The new strategy, highlighted by the hiring of two new executives in critical roles, will better position Citizens to achieve its ambitious goal of building a preeminent Private Banking and Wealth Mana ...

Saying last week’s sell-off triggered by one bank’s results appears to be overblown, Citi analyst Keith Horowitz on Monday upgraded Citizens Financial Group Inc. to buy from hold.Citizens Financial Group’s stock CFG, +2.82% rose by 1.4% in premarket trading.“With the market pricing in greater credit concerns, we are stepping off the sidelines and upgrading CFG,” Horowitz said. Horowitz kept his target price for the stock at $36 a share, after Citizens Financial Group’s stock dropped by 7% between Jan. 30 an ...

Banks continue to navigate a bumpy landscape in loans tied to a drop in office-space value and rent prices in many markets as workers stay at home.In one high-profile example on Tuesday, New York Community Bancorp NYCB, -37.67% cited a need to increase its allowance for credit losses (ACL) on the heels of an office loan that contributed to a $185 million charge-off loss and helped trigger a roughly 40% drop in its stock price.“Given the impact of recent credit deterioration within the office portfolio, we d ...

PROVIDENCE, R.I.--(BUSINESS WIRE)--The national Citizens Business Conditions Index™ (CBCI) rose to 51.8 in the fourth quarter, supported by continued resilience in the labor market and consumer trends. The second consecutive quarterly reading above 50 indicates that the economy exited 2023 with momentum as signs of moderating inflation support optimism for a soft landing. While applications for new businesses were slightly softer during the period, solid employment trends, particularly in Local Governmen ...

PROVIDENCE, R.I.--(BUSINESS WIRE)--Today Citizens announced it has opened its annual Small Business Community Champion Award Contest, which will again recognize the positive contributions small businesses make within their communities. Now in its seventh year, the contest will award $10,000 each to 30 small businesses across Citizens’ footprint, including 10 minority-owned and 10 women-owned businesses. This year, for the first time, Citizens will also set aside five of its 30 awards exclusively for veteran ...

Citizens Financial Group (CFG) has reported fourth-quarter 2023 earnings per share of 34 cents, missing the Zacks Consensus Estimate of 60 cents. The bottom line also declined from $1.25 in the year-ago quarter.Results were adversely impacted by lower net interest income (NII), and a rise in provisions and operating expenses. Non-interest income also witnessed a decline in the quarter.Net income was $189 million, down from $653 million in the prior-year quarter.In 2023, underlying earnings of $3.13 per shar ...

Citizens Financial Group, Inc. (NYSE:CFG) Q4 2023 Earnings Call Transcript January 17, 2024 9:00 AM ET Company Participants Kristin Silberberg - EVP, IR Bruce Van Saun - Chairman and CEO John Woods - CFO Brendan Coughlin - Head of Consumer Banking Don McCree - Head of Commercial Banking Conference Call Participants Peter Winter - D.A. Davidson Matt O'Connor - Deutsche Bank John Pancari - Evercore Ebrahim Poonawala - Bank of America Scott Siefers - Piper Sandler Ken Usdin - Jefferies Erika Najarian - UBS Ger ...

Solid deposit performance in 2023 Commentary ■ Improvements in deposit franchise demonstrated with better core deposit performance than most peers, while maintaining peer-like deposit beta ■ Efforts to optimize the liquidity value of deposits continue – During 4Q23, exited ~$3.5B in deposits with financial institutions and municipalities $15.9 $17.6$14.0 $5.6 $5.3 $5.2 $1.8 $1.8 $1.8 $3.2 $2.7 $8.5 $7.0$3.8 Senior debt Subordinated debt Other Collateralized borrowings FHLB 4Q22 3Q23 4Q23 Favorable remixing ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer ☑ Accelerated filer ☐ Citizens Financial Group, Inc. | 4 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 For the Transition Period From (Not Applicable) Commission File Number 001-36636 Delaware 05-0412693 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) (203) 900-6715 ...

Citizens Financial Group, Inc. (NYSE:CFG) Q3 2023 Earnings Conference Call October 18, 2023 9:00 AM ET Company Participants Kristin Silberberg - EVP, IR Bruce Van Saun - Chairman and CEO John Woods - CFO Don McCree - Head, Commercial Banking Brendan Coughlin - Head, Consumer Banking Conference Call Participants Erika Najarian - UBS Scott Siefers - Piper Sandler Peter Winter - D.A. Davidson Kenneth Usdin - Jefferies Manan Gosalia - Morgan Stanley Matthew O'Connor - Deutsche Bank Vivek Juneja - JPMorgan Opera ...