Core Insights - First Citizens BancShares, Inc. reported strong financial results for Q4 2024, with net income of $700 million, up from $639 million in Q3 2024, and net income available to common stockholders increased to $685 million from $624 million [3][4] Financial Highlights - Adjusted net income for Q4 2024 was $643 million, a decrease from $675 million in the linked quarter, with adjusted net income available to common stockholders at $628 million, down from $660 million [4] - Net interest income totaled $1.71 billion, a decrease of $87 million from the linked quarter, with net interest margin at 3.32%, down from 3.53% [6][10] - Noninterest income increased to $699 million, up by $49 million compared to the linked quarter, with adjusted noninterest income at $516 million, an increase of $42 million [10] Balance Sheet Summary - Loans and leases reached $140.22 billion, an increase of $1.53 billion (4.4% annualized) from $138.70 billion [9] - Total investment securities rose to $44.09 billion, an increase of $5.43 billion since September 30, 2024 [12] - Deposits totaled $155.23 billion, an increase of $3.66 billion (9.6% annualized growth) [12] Provision for Credit Losses and Credit Quality - Provision for credit losses was $155 million, up from $117 million in the linked quarter, with net charge-offs totaling $160 million, representing 0.46% of average loans [11][13] - Nonaccrual loans decreased to $1.18 billion (0.84% of loans) from $1.24 billion (0.90% of loans) [13] Capital and Liquidity - Capital ratios were well above regulatory requirements, with total risk-based capital at 15.04% and Tier 1 risk-based capital at 13.53% [18] - The company repurchased 461,583 shares of Class A common stock for $963 million during the quarter, with a total of 814,641 shares repurchased for $1.66 billion since the inception of the Share Repurchase Program [18]

Core Viewpoint - Citizens Financial Group (CFG) reported fourth-quarter 2024 adjusted earnings per share (EPS) of 85 cents, exceeding the Zacks Consensus Estimate of 83 cents, while remaining unchanged from the previous year [1] Financial Performance - For 2024, adjusted EPS was $3.25, beating the Zacks Consensus Estimate of $3.2, but down from $3.88 in the year-ago quarter [2] - Net income (GAAP basis) for the fourth quarter was $401 million, significantly up from $189 million in the prior-year quarter, while full-year net income was $1.5 billion, a decrease of 6.2% year over year [3] - Total quarterly revenues were $1.99 billion, surpassing the Zacks Consensus Estimate of $1.96 billion, but showing a slight year-over-year decline; full-year revenues totaled $7.81 billion, down 5% year over year, yet beating the Zacks Consensus Estimate of $7.79 billion [4] Income and Expenses - Net interest income (NII) decreased 5.1% year over year to $1.41 billion, attributed to a lower net interest margin and a decline in average interest-earning assets [5] - The net interest margin (NIM) shrank four basis points to 2.86% due to increased funding and swap costs, partially offset by fixed-rate asset repricing [5] - Non-interest income rose 14.8% to $574 million, driven by increased service charges, capital market fees, and mortgage banking income [6] - Non-interest expenses decreased 18.4% to $1.32 billion, reflecting a reduction in various operational costs [6] - The efficiency ratio improved to 66.3% in the fourth quarter from 81.1% in the year-ago quarter, indicating increased profitability [7] Loan and Deposit Balances - As of December 31, 2024, total loans and leases were $139.2 billion, down 1.7% from the prior-year quarter, while total deposits decreased marginally to $174.8 billion [8] Credit Quality - The provision for credit losses was $162 million, down 5.3% from the year-ago quarter, while net charge-offs increased 10.5% to $189 million [10] - Non-accrual loans and leases rose 22% to $1.67 billion [10] Capital Position - As of December 31, 2024, the tier 1 leverage ratio was 9.4%, up from 9.3% in the prior-year quarter, and the common equity tier 1 capital ratio was 10.8%, compared to 10.6% previously [11] Shareholder Returns - In the fourth quarter of 2024, CFG repurchased $225 million of common shares and paid $188 million in common dividends [12] Strategic Outlook - CFG's focus on strategic initiatives and inorganic growth is expected to support its financials, although concerns remain regarding lower NII and declining loan and deposit balances [13]

Core Viewpoint - BAD BEAT Investing, led by Quad 7 Capital, emphasizes a strategic approach to trading, focusing on both long and short positions while educating investors on market dynamics and trading proficiency [1][2] Group 1: Company Overview - Quad 7 Capital consists of a team of 7 analysts with diverse expertise in business, policy, economics, mathematics, game theory, and sciences [1] - The company has been operational for nearly 12 years and is recognized for its significant market calls, including a notable recommendation to sell everything and go short in February 2020 [1] - Since May 2020, the company has maintained an average position of 95% long and 5% short [1] Group 2: Investment Strategy - BAD BEAT Investing focuses on short- and medium-term investments, income generation, special situations, and momentum trades [1] - The company aims to provide high-quality research with clear entry and exit targets, saving investors time and enhancing their trading skills [1] Group 3: Benefits and Tools - Investors benefit from learning market dynamics, receiving well-researched trade ideas weekly, and accessing multiple chat rooms for discussions [2] - The service includes daily summaries of key analyst upgrades and downgrades, basic options trading education, and a variety of trading tools [2]

Citizens Financial Group, Inc. CFG will release earnings results for its fourth quarter, before the opening bell on Friday, Jan. 17, 2025.Analysts expect the Providence, Rhode Island-based company to report quarterly earnings at 83 cents per share, down from 85 cents per share in the year-ago period. Citizens Financial projects to report revenue of $1.96 billion for the recent quarter, compared to $1.99 billion a year earlier, according to data from Benzinga Pro.On Oct. 16, Citizens Financial Group posted w ...

Citizens Financial Group, Inc. (CFG) is scheduled to report its fourth-quarter 2024 results on Jan. 17, 2025, before the opening bell. The bank’s fourth-quarter 2024 revenues are expected to have declined from the year-ago quarter’s reported level, while earnings are expected to have improved.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the third quarter, CFG witnessed a rise in non-interest income, along with reduced expenses. However, lower net interest income (NII) and decl ...

As we turn the calendar to 2025 , an action-packed month of both macro and company-specific volatility catalysts is on tap. We’ll get the December payrolls report on Friday, January 10th, bank earnings begin the followingFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to fi ...

RALEIGH, N.C., Dec. 16, 2024 /PRNewswire/ -- Matt Snow has been appointed to the board of directors of First Citizens BancShares, Inc. ("BancShares") and its subsidiary, First-Citizens Bank & Trust Company ("First Citizens Bank"), effective Jan. 2, 2025. Matt Snow has been appointed to the board of directors of First Citizens BancShares, Inc. and its subsidiary, First-Citizens Bank & Trust Company, effective Jan. 2, 2025. For the past two years, Snow has served as chairman of the governing board of For ...

Citizens, Inc. Announces Filing of Form S-3 to Replace Expiring Shelf Registration StatementNovember 27, 2024 4:05 PM EST | Source: Citizens, Inc.Austin, Texas--(Newsfile Corp. - November 27, 2024) - Citizens, Inc. (NYSE: CIA), a leading diversified financial services company specializing in life, living benefits, and final expense insurance, today announced it has filed a shelf registration statement (the "Shelf Registration") on Form S-3 with the United States Securities and Exchange Commiss ...

WILMINGTON, Del., Nov. 27, 2024 (GLOBE NEWSWIRE) -- Prelude Therapeutics Incorporated (Prelude) (Nasdaq: PRLD), a clinical-stage precision oncology company, announced today that the Company will participate in the Citizens JMP Securities Hematology and Oncology Summit, taking place virtually on December 2, 2024. On Monday, December 2, at 11:30 a.m. ET, Kris Vaddi, Ph.D., Chief Executive Officer of Prelude, and Jane Huang, M.D., President and Chief Medical Officer, will participate in a fireside chat. A live ...

Core Viewpoint - Marker Therapeutics, Inc. is set to present its technology and clinical developments at the Citizens JMP Hematology and Oncology Summit on December 2, 2024, highlighting its focus on next-generation T cell-based immunotherapies for hematological malignancies and solid tumors [1][2]. Company Overview - Marker Therapeutics, Inc. is a clinical-stage immuno-oncology company based in Houston, TX, specializing in developing T cell-based immunotherapies for treating hematological malignancies and solid tumors [5]. - The company has conducted clinical trials involving over 200 patients, demonstrating that its autologous and allogeneic multiTAA-specific T cell products are well tolerated and show durable clinical responses [5]. - Marker aims to introduce novel T cell therapies to the market to improve patient outcomes while prioritizing financial resource preservation and operational excellence [5]. - The company benefits from non-dilutive funding from U.S. state and federal agencies that support cancer research, strengthening its unique T cell platform [5]. Event Details - Dr. Juan Vera, President and CEO of Marker Therapeutics, will present at the Citizens JMP Hematology and Oncology Summit on December 2, 2024, at 11 AM EST [2][3]. - The event will be held virtually, and a replay of Dr. Vera's presentation will be available on the company's Investor Relations website [3]. - During the conference, Dr. Vera and the Marker management team will conduct one-on-one meetings with registered investors to showcase the company's business and clinical development [4].