We follow the regional banks closely as a whole to get a sense of the overall economic picture. We start our Q3 regional bank earnings coverage for the public site with one of the major regional banks in Pay yourself dividends with outsized returns Get more with our playbook to significantly grow your wealth by embracing a blended trading and investing approach at our one-stop shop. Our prices go up next month, so act now and you can lock in 75% of savings versus the $1,668 some members pay, which will end ...

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]

NEW YORK, Sept. 3, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as lead arranger on $145 million in financing on behalf of Linea Energy LLC for the development of advanced renewable energy projects across the U.S. Established in 2002 and headquartered in San Francisco, California, Linea Energy is a renewables platform and independent power producer focused on the development, ownership, and operation of clean energy infrastructure. It is a portfolio compan ...

Core Insights - First Citizens Bank announced its role as the lead arranger in upsizing the credit facility for SG Credit Partners, which includes their asset-based lending verticals focused on consumer products and commercial finance [1][2] Group 1: Company Developments - The credit facility increase supports SG Credit's new Commercial Finance division as part of its growth strategy targeting new lending verticals [2] - SG Credit Partners operates a broad credit platform with three verticals: Software + Technology, Consumer Products, and Commercial Finance [2] - First Citizens' Asset-Based Lending team has collaborated with SG Credit for several years, demonstrating strong lender finance capabilities [3] Group 2: Financial Strategy - The Asset-Based Lending business of First Citizens aims to meet clients' working capital needs through innovative structures that reduce funding costs and operational risks [3] - The financing solutions provided by First Citizens help improve earnings by leveraging accounts receivable, inventory, or fixed assets as collateral [3] Group 3: Company Background - First Citizens Bank, headquartered in Raleigh, N.C., offers a wide range of banking services and has over 500 branches across 30 states [4] - The parent company, First Citizens BancShares, Inc., is a top 20 U.S. financial institution with more than $200 billion in assets and is a member of the Fortune 500 [4]