Group 1 - First Citizens BancShares, Inc. has declared dividends for common and preferred stock, with a quarterly common stock dividend of $1.95 per share, an increase from $1.64 per share in the previous quarter [1] - The company will pay a regular quarterly dividend of $13.4375 per share on its 5.375% non-cumulative perpetual preferred stock, Series A, resulting in a distribution of $0.335938 per depositary share [1] - A dividend of $23.205632 per share will be paid on the company's fixed-to-floating rate, non-cumulative perpetual preferred stock, Series B [1] - The regular quarterly dividend for the 5.625% non-cumulative perpetual preferred stock, Series C, is set at $0.351563 per share [1] Group 2 - First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets and is a member of the Fortune 500 [2] - The company operates First-Citizens Bank & Trust Company, which has a network of more than 500 branches and offices across 30 states [2] - First Citizens offers a range of banking services, including commercial banking, innovation banking, and personalized wealth management services [2]

Michelle Draper, former Silicon Valley Bank CMO and 30-year financial industry veteran, to lead marketing and client experience RALEIGH, N.C., Oct. 17, 2024 /PRNewswire/ -- First Citizens Bank today announced the appointment of Michelle Draper to Chief Marketing Officer (CMO). Most recently, Draper served as Chief Marketing and Sales Strategy Officer of Silicon Valley Bank (SVB), a division of First Citizens Bank. In her role serving the First Citizens enterprise, Draper leads a marketing organization natio ...

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Shares of Citizens Financial Group, Inc. (NYSE: CFG ) were largely unchanged on Wednesday morning after reporting mostly in-line Q3 earnings results . Shares have been a strong performer over the past year, gaining over 60%, as the bank has Over fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me k ...

Citizens Financial Group (CFG) has reported third-quarter 2024 adjusted earnings per share (EPS) of 79 cents, which matched the Zacks Consensus Estimate. The bottom line declined from 85 cents reported in the year-ago quarter. Find the latest earnings estimates and surprises on the Zacks Earnings Calendar. Capital market fees of $94 million surged 40.3% year over year, driven by growth in bond underwriting and merger and acquisition advisory fees, partially offset by lower loan syndication fees. Results ben ...

Core Viewpoint - Citizens Financial Group, Inc. (CFG) is expected to report a decline in earnings and revenues for the third quarter of 2024 compared to the previous year, with various factors influencing its financial performance [1][17]. Earnings Performance - In Q2 2024, CFG's earnings fell short of the Zacks Consensus Estimate due to lower net interest income (NII), increased provisions, and higher operating expenses, with an average negative surprise of 16.39% over the last four quarters [2]. - The consensus estimate for Q3 earnings is 78 cents per share, reflecting an 8.24% year-over-year decline, while revenues are projected at $1.94 billion, indicating a 3.6% decrease from the prior year [17]. Loan Demand and Interest Income - The lending environment is expected to have improved slightly due to clarity on the Federal Reserve's rate cut path, although demand for commercial real estate loans remains subdued [3]. - CFG's average interest-earning assets are estimated at $199 billion, a nearly 1% increase from the previous quarter, while NII is projected to decline by 1.7% to $1.39 billion [4][6]. Non-Interest Income - Mortgage rates have decreased to approximately 6.2%, leading to a surge in refinancing activities, which is likely to support CFG's mortgage banking fees, estimated at $55.9 million, a 3.5% rise from the prior quarter [7][8]. - Trust and investment services fees are expected to increase by 3.7% to $77.8 million, driven by strong client activity and equity market performance [9]. Capital Markets and Fees - Capital markets fees are anticipated to decline by 9.8% to $120.9 million due to regulatory scrutiny and geopolitical issues, while service charge and fee revenues are projected to rise by 1.7% to $107.8 million [10][11][12]. - Card fees are expected to decrease by 2.7% to $89.4 million, with overall fee income slightly up compared to the previous quarter [13]. Expenses and Asset Quality - CFG's expenses are likely to increase due to the opening of new private banking offices and investments in technology, with adjusted non-interest expenses expected to remain stable at $1.27 billion [14]. - The company is anticipated to set aside significant provisions for potential bad loans, particularly in commercial loans, with non-accrual loans estimated at $1.54 billion, a 1.2% increase from the previous quarter [15]. Earnings Prediction - CFG has a positive Earnings ESP of +0.31%, indicating a potential earnings beat, supported by a Zacks Rank of 3 [16].

RALEIGH, N.C., Oct. 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the quarter ended September 30, 2024, before the U.S. financial markets open on Thursday, October 24, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-r ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional va ...

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as co-lead arranger on a $300 million senior secured credit facility for Swift Current Energy, a leading North American clean energy platform. The financing will provide flexible growth capital as Swift Current pursues development of 10 GW gigawatts of wind, solar and energy storage projects in its pipeline, with plans to own and operate 1 GW by the end of year. "Our utility-scale renewable po ...

Core Insights - First Citizens Bank's Healthcare Finance business arranged $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois [1][2] - The transaction involves facilities with over 1,500 licensed beds, catering to individuals requiring rehabilitation or 24-hour medical attention [2] - The financing aims to support the growth of a Midwest-based healthcare real estate investment and management company [1][3] Company Overview - First Citizens Bank provides comprehensive financing and banking solutions tailored to middle market healthcare companies across the U.S. [4] - The bank has a legacy of strength and stability, with over $200 billion in assets and a presence in 30 states [5] - First Citizens Bank offers a range of services including commercial banking, innovation banking, and a nationwide direct bank [5]