Citizens Financial Group 株価情報 (NYSE: CFG)

最新ニュース Citizens Financial Group (NYSE:CFG) 株価情報

Citizens Financial Group

Citizens Financial Group Inc is a bank holding company headquartered in Providence, Rhode Island. Its two primary business segments are consumer banking and commercial banking. Citizens offers a mix of retail and commercial products including capital markets and wealth options. The bank has over 1,100 branches in 14 states, although it is concentrated in the Northeast. It has over $220 billion of total assets. It generates maximum revenue from Consumer Banking Segment.

Citizens Financial Group, Inc. Common Stock

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Citizens Financial Group, Inc. Depositary Shares Each Representing 1/40th Interest in a Share of 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E

Citizens Financial Group, Inc. Depositary Shares Each Representing a 1/40th Interest in a Share of 7.375% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series H

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Shares of banking and private equity stocks are trading higher after Donald Trump won the US presidential election.

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Shares of banking companies are trading lower. The sector may be moving amid overall market weakness.

U.S. banks are preparing to slash interest payments on corporate deposits as the Federal Reserve&#8217;s recent <a href="https://www.benzinga.com/topic/interest-rates">rate cuts take effect. </a>
Following the Fed's decision in September to lower its benchmark rate by 50 basis points, the first reduction in over four years, U.S. financial institutions are focusing on corporate deposits as a key area to maintain profit margins amid declining interest levels, according to a report from the <a href="https://www.ft.com/content/1056329a-9500-468f-89b7-1834ba6e6090">Financial Times</a>.
<h3 class="wp-block-heading">Corporate Deposit Rates Come Under Pressure</h3>
In the wake of the Federal Reserve&#8217;s rapid rate hikes through 2022 and early 2023, banks increased interest payments on deposits to retain customers.
As benchmark interest rates soared to 23-year highs, corporate depositors, in particular, saw rates on their accounts rise sharply with Fed policy, the FT reported. These accounts became a significant tool for banks to attract and retain capital, preventing businesses from shifting funds into higher-yielding alternatives like money market funds.
With the recent rate cuts and more expected in the coming months, U.S. banks are now focusing on reducing the costs associated with these corporate deposits.
Several industry executives have echoed this sentiment. Bruce Van Saun, CEO of Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>), told the FT that banks are actively pricing down deposits in corporate accounts since &#8220;they were demanding every penny on the way up.&#8221;
This trend is likely to continue, with projections indicating that the Fed&#8217;s rates could fall from 5% to around 3% by 2026.
<h3 class="wp-block-heading">Banks Leverage Flexibility Amid Weak Loan Demand</h3>
The environment of lower interest rates has also coincided with a downturn in loan demand. 
While this has pressured banks&#8217; net interest income, it has provided more flexibility when it comes to adjusting deposit rates. 
Jason Goldberg, a research analyst at Barclays, told the FT: "it's still very early in the cycle, but you certainly have started to see banks take action a little bit prior to this Fed cut in mid-September."
<h3 class="wp-block-heading">Small, Midsized Banks Eye Margin Protections</h3>
Mid-sized and smaller U.S. banks have been under significant pressure to raise the interest rates they offer on savings accounts in order to prevent customers from moving their money elsewhere. 
This competition has been especially tough for regional banks, while larger institutions like JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) have had an advantage. Nearly one-third of JPMorgan deposits earn no interest, the FT report said. 
Citizens Financial, which holds approximately $175 billion in deposits, is among the regional players employing sophisticated models to balance customer retention with deposit rate cuts. 
Van Saun reportedly said the bank takes a &#8220;very, very scientific&#8221; approach to pricing deposits, ensuring that rates are high enough to keep corporate clients satisfied but not so high as to erode profitability.
<h3 class="wp-block-heading">Implications For Bank Stocks </h3>
Shares of major U.S. financial institutions, tracked by the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), are trading at record highs following a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea">robust third-quarter earnings season. </a>
Major banks like JPMorgan Chase &amp; Co., Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) , Bank of America, Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) and Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) all exceeded earnings expectations, brightening the outlook for their shareholders.
For these large institutions, the planned cuts in corporate deposit rates could further bolster their profit margins, or at the very least help them maintain profitability. Their scale and perceived safety make it unlikely that such moves will result in significant withdrawals, providing a strategic advantage.
In contrast, smaller and mid-sized banks, represented by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), have less flexibility to cut interest rates on corporate deposits without risking customer attrition. 
With heightened competition in the sector, these banks are in a more precarious position — overly aggressive cuts could prompt corporate depositors to move their funds elsewhere. As a result, these institutions may face pressure on their profit margins to keep depositors satisfied.
A silver lining could exist: for regional banks: lower interest rates might stimulate loan demand, which could help offset the pressure on deposit funding costs by increasing lending volumes.
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US Banks Plan Sharp Cuts In Corporate Deposit Returns As Fed Lowers Interest Rates: Could Financial Stocks Take A Hit?

Citizens Financial Group's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) short percent of float has risen 12.73% since its last report. The company recently reported that it has 14.27 million shares sold short, which is 4.25% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.98 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Citizens Financial Group Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729265413_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Citizens Financial Group has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Citizens Financial Group's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Citizens Financial Group's peer group average for short interest as a percentage of float is 3.59%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Citizens Financial Group's Recent Short Interest

DA Davidson analyst Peter Winter maintains Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) with a Buy and raises the price target from $46 to $48.

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DA Davidson Maintains Buy on Citizens Financial Group, Raises Price Target to $48

Barclays analyst Jason Goldberg maintains Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) with a Equal-Weight and raises the price target from $40 to $47.

Barclays Maintains Equal-Weight on Citizens Financial Group, Raises Price Target to $47

During the last three months, 5 analysts shared their evaluations of Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>), revealing diverse outlooks from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $47.0, along with a high estimate of $50.00 and a low estimate of $45.00. Surpassing the previous average price target of $43.60, the current average has increased by 7.8%.
<img src="https://www.benzinga.com/files/images/story/2024/1729170067_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Citizens Financial Group's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$45.00</td>
<td>$43.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$46.00</td>
<td>$47.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$46.00</td>
<td>$42.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$50.00</td>
<td>$41.00</td>
</tr>
<tr>
<td>Scott Siefers</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$48.00</td>
<td>$45.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Citizens Financial Group. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Citizens Financial Group compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Citizens Financial Group's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Citizens Financial Group's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CFG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Citizens Financial Group analyst ratings.</a>
<h2>All You Need to Know About Citizens Financial Group</h2>
Citizens Financial Group is a bank holding company headquartered in Providence, Rhode Island. Its two primary business segments are consumer banking and commercial banking. Citizens offers a mix of retail and commercial products including capital markets and wealth options. The bank has over 1,100 branches in 14 states, although it is concentrated in the Northeast. It has over $220 billion of total assets. It generates maximum revenue from Consumer Banking Segment.
<h3>Citizens Financial Group: Financial Performance Dissected</h3>
Market Capitalization Analysis: With a profound presence, the company's market capitalization is above industry averages. This reflects substantial size and strong market recognition.
Revenue Challenges: Citizens Financial Group's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -6.45%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Citizens Financial Group's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 18.22%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Citizens Financial Group's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 1.64%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Citizens Financial Group's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.16%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: Citizens Financial Group's debt-to-equity ratio stands notably higher than the industry average, reaching 0.6. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings For Citizens Financial Group

RBC Capital analyst Gerard Cassidy maintains Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) with a Outperform and raises the price target from $43 to $45.

RBC Capital Maintains Outperform on Citizens Financial Group, Raises Price Target to $45

Small-cap stocks outperformed large caps in Wednesday's session, with the Russell 2000 Index surging to test July 2024 highs on the back of expectations for interest rate cuts and a <a href="https://www.benzinga.com/topic/regional-banks">strong rally in regional banks. </a>
Financial stocks continued their upward momentum, buoyed by strong earnings reports. Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) significantly beat expectations, propelling its stock up by 8% to new all-time highs.
Regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), rallied 2.1%, hitting levels last seen in early March 2023, prior to the fallout of Silicon Valley Bank.
Airlines also soared, with United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) posting an 11% rally. The surge lifted the entire industry, as tracked by the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), which reached its highest level since July 2023.
The tech sector lagged, weighed down by weak performance in semiconductors. The industry was still reeling from ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>)&#8217;s earnings shock on Tuesday, after the company slashed its 2025 revenue outlook, triggering a broad selloff in chipmakers.
Both the Nasdaq 100 and semiconductor stocks remained flat on Wednesday.
In the currency market, the U.S. Dollar Index was poised to log its 12th positive day in the last 13 sessions. Treasury yields edged lower. Oil prices saw a slight decline of 0.6%, with West Texas Intermediate (WTI) crude falling below $70 per barrel.
Precious metals offered positive signals, with gold set to close its fifth consecutive day of gains, while silver rose 0.8%.
In the cryptocurrency space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) advanced 1%, reaching $68,000 — its highest level since late July 2024.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,289.65</td>
<td>1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,981.53</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,830.29</td>
<td>0.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,131.29</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101624&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.2% to $580.82.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.6% higher to $429.93.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.2% to $489.94.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.8% to $226.77.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.4%. The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged, down 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) fell over 3% after missing earnings estimate. </li>
<li>Other stocks reactive to company earnings included United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), up 11.5%, J.B. Hunt Transport Services Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>), up 3.5%, Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>), up 1.7%, Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), up 7.6%, U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), up 4.7% and Citizens Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>).</li>
<li>ASML Holding N.V. fell over 5% after dropping 17% on Tuesday in reaction to dismal revenue outlook. </li>
<li>Companies set to report their earnings after the close include CSX Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>), Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>), Steel Dynamics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) and Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>). </li>
</ul>
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41356469/mortgage-demand-sees-sharpest-weekly-drop-since-april-2020-as-rates-climb-above-6">Mortgage Demand Sees Sharpest Weekly Drop Since April 2020 As Rates Climb Above 6.5%</a></li>
</ul>
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Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What's Driving Markets Wednesday?

Citizens Financial Group shares are trading lower following worse-than-expected Q3 financial results.

Citizens Financial Group Q3 Sales $1.901B Miss $1.938B Estimate

Earnings Misses

Citizens Financial Group Q3 2024 GAAP EPS $0.77 Misses $0.80 Estimate, Underlying EPS $0.79

Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) will release its quarterly earnings report on Wednesday, 2024-10-16. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Citizens Financial Group to report an earnings per share (EPS) of $0.79.
The announcement from Citizens Financial Group is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings History Snapshot</h3>
The company's EPS beat by $0.04 in the last quarter, leading to a 0.42% drop in the share price on the following day.

<img src="https://www.benzinga.com/files/images/story/2024/1729000916_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Citizens Financial Group were trading at $43.27 as of October 14. Over the last 52-week period, shares are up 70.03%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CFG/earnings">To track all earnings releases for Citizens Financial Group visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Citizens Financial Group Earnings Preview

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Shares of banking and financial services stocks are trading higher following better-than-expected financial results from JPMorgan Chase and Wells Fargo.

Citizens Financial Group Changes Date And Time Of Q2 2025 Conference To 10:00 am on July 17, 2025.

HSBC Holdings plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hsbc#NYSE">HSBC</a>) plans to double the size of its Canadian private client business over the next few years, according to Nader Guirguis, CEO of HSBC Private Wealth Services (Canada).
For HSBC, the Canadian private wealth management market represents a significant opportunity. The country enjoys a good reputation for socioeconomic stability, liberal immigration policies and a growing pool of high-net-worth individuals. HSBC currently has four main private wealth management hubs in Vancouver, Calgary, Toronto and Montreal and plans to open more offices in the near term.
<h2>HSBC&#39;s Expansion Into Canada</h2>
Guirguis said Canada is &quot;one of the jewels in the crown&quot; of HSBC&#39;s global portfolio. He also added, &quot;The country is attractive to us, as it&#39;s a low-risk environment with a stable economy that is attracting wealth and quality immigrants from around the world.&quot;
Since its entry in 1981, HSBC has been steadily increasing the scale of its operations in Canada. The bank has acquired several financial institutions since entering the market, like Lloyds Bank Canada, Republic National Bank of New York (Canada) and Barclays Bank Canada in the past. These acquisitions have bolstered its presence in the Canadian market, positioning HSBC as the largest foreign-owned bank in the country.
HSBC Canada is seeking to double its private client base over the next three to four years. To qualify for HSBC&#39;s private banking services, HNW and ultra-high-net-worth individuals must have assets to invest of at least $753,900 (C$1 million). The bank&#39;s Premier Banking services are available to customers with a minimum total relationship balance of $75,390 (C$100,000).
Most of HSBC&#39;s private clients in Canada are current or retired business owners while others are professionals and senior executives of large corporations. HSBC&#39;s commercial banking clients serve as the primary channel for its private client base.
<h2>HSBC&#39;s Tripod Model</h2>
HSBC uses an innovative Tripod Model catering to its private clients. In the said model, every client is assigned a relationship manager, an investment counselor and a wealth planner. The RM offers the whole banking product line, such as bank accounts, cash management and other complex lending products. The investment counselor offers discretionary investment services, along with estate planning and business succession planning. The wealth planner offers tailored recommendations to the client, which are then fulfilled by the RM or the counselor.
With such a team approach, the customer can be assured to get a holistic and integrated personal wealth management experience.
<h2>HSBC&#39;s Global Reach Aids Canada Expansion</h2>
HSBC distinguishes itself from other Canadian banks by leveraging its global expertise in investment and wealth management. Guirguis added, &quot;We have HSBC global asset management offices in over 30 countries, and our analysts across the globe are geographically close to the companies in which we invest our clients&#39; funds. We do our own research and have our own direct connections to the management of these companies.&quot;
HSBC&#39;s Premier and private banking clients enjoy globally linked accounts, which allow them to transfer funds between HSBC accounts in different countries in real-time.
In addition to serving Canadian clients, HSBC Canada also attracts international customers, including new immigrants and those looking to invest in Canada.
Through its efforts to expand into high-growth markets and enhance its international footprint, HSBC is well-positioned to attract a broader base of affluent clients globally and capitalize on the rising demand for personalized financial services across diverse regions.
<h2>Other Banks Taking Similar Steps</h2>
JPMorgan Chase &amp; Co.&nbsp;is also increasing its footprint in the HNW space to offer private banking services. In September 2024, JPM set up a private banking team in Dubai, the Gulf&#39;s financial hub, to provide wealth management services. The news was first reported by Reuters.
In order to expand its private banking business, Citizens Financial Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cfg#NYSE">CFG</a>) added an experienced Private Banking team in Southern California to continue its efforts of West Coast expansion strategy. CFG has also opened two new Private banking offices in North California.
<a href="https://www.zacks.com/stock/news/2348941/hsbc-plans-to-expand-private-wealth-management-business-in-canada?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2348941">To read this article on Zacks.com click here.</a>

Management

HSBC Plans to Expand Private Wealth Management Business in Canada

Citizens Financial Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cfg#NYSE">CFG</a>) is scheduled to report its third-quarter 2024 results on Oct. 16, before the opening bell. The company&#39;s earnings and revenues in the third quarter are expected to have declined from the year-ago reported figures.
In the second quarter of 2024, CFG&#39;s earnings missed the Zacks Consensus Estimate on lower net interest income (NII), a rise in provisions and operating expenses. However, an increase in non-interest income and lower allowance for credit losses offered some support.
The company&#39;s earnings missed the Zacks Consensus Estimate in each of the trailing four quarters, the negative surprise being 16.39%, on average.
<div class="chart_embed">
<h3>Citizens Financial Group, Inc. Price and EPS Surprise</h3>
<h2><img alt="Citizens Financial Group, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/01/1728481134.png" style="height:266px; width:547px" title="" /></h2>
Citizens Financial Group, Inc. price-eps-surprise | Citizens Financial Group, Inc. Quote
</div>
<h2>Factors to Influence CFG&#39;s Q3 Earnings</h2>
Loans: The clarity on the Fed&#39;s rate cut path and the stabilizing macroeconomic backdrop are likely to have provided support to the lending scenario. According to the latest data from the Fed, the demand for commercial and industrial and consumer loans was modest in the first two months of the quarter, while demand for commercial real estate remained subdued.
The company&#39;s lending book is likely to have been positively impacted by improvement in commercial loans, while the subdued real estate loan demand might have offset growth to some extent.
The Zacks Consensus Estimate for average interest-earning assets is pegged at $199 billion, indicating an increase of nearly 1% from the prior quarter&#39;s reported figure. We estimate the metric to be $212.5 billion.
Net Interest Income: On Sept. 18, the Federal Reserve cut interest rates by 50 basis points to 4.75-5% for the first time since March 2020. While this development might prove to be helpful in the long term, it is not expected to have a positive impact on CFG&#39;s NII during the third quarter.
Also, relatively higher rates might have hurt NII growth prospects similar to the last quarter due to the elevated funding/deposit costs and an inverted yield curve during the major part of the quarter.
Management expects NII to be down 1-2% in the third quarter compared with the second quarter&#39;s reported figure of $1.41 million.
The Zacks Consensus Estimate for NII is pegged at $1.39 billion, indicating a 1.7% decrease from the prior quarter&#39;s reported figure. Our estimate for the metric is pegged at $1.38 billion.
Non-Interest Income: As the central bank lowered the interest rates, mortgage rates started to come down. The rates declined to almost 6.2% by the end of the third quarter. Although mortgage origination volume remained subdued in the quarter under review, refinancing activities witnessed a significant surge supported by lower mortgage rates. This is likely to have supported CFG&#39;s mortgage banking fees.
The Zacks Consensus Estimate for mortgage banking fees is pegged at $55.9 million, indicating a 3.5% rise from the prior quarter&#39;s reported figure. Our estimate for the metric is pegged at $62.1 million.
Decent client activity and impressive equity market performance are likely to have boosted the company&#39;s trust and investment services fees. The Zacks Consensus Estimate for trust and investment services fees is pegged at $77.8 million, indicating a 3.7% increase from the previous quarter&#39;s reported figure. Our estimate for the metric is pegged at $73.9 million.
Global mergers and acquisitions in the third quarter of 2024 showed improvement after subdued 2023 and 2022. Both deal value and volume were decent during the quarter, driven by solid financial performance, higher chances of a soft landing of the U.S. economy, buoyant markets and interest rate cuts. However, tough scrutiny by antitrust regulators and lingering geopolitical issues are likely to have affected the company&#39;s capital markets fee.
The Zacks Consensus Estimate for capital markets fees is pegged at $120.9 million, indicating a sequential decline of 9.8%. We estimate the metric to be $108.6 million.
Citizens Financial&#39;s efforts to enhance deposit balances on the back of past strategic acquisitions are likely to have aided service charge and fee revenues in the quarter under review. The Zacks Consensus Estimate for the service charge and fee revenues is pegged at $107.8 million, indicating a rise of 1.7% from the prior quarter&#39;s reported level. Our estimate for the metric is pegged at $111.1 million.
The Zacks Consensus Estimate for card fees is pegged at $89.4 million, indicating a sequential decline of 2.7%. We estimate the metric to reach $86.6 million.
Management expects fee income in the third quarter to be slightly up compared with $549 million in the second quarter. Further, the Zacks Consensus Estimate for the metric is pegged at $553.3 million, indicating a marginal sequential increase. Our estimate for the metric is pegged at $556.2 million.
Expenses: Citizens Financial&#39;s expenses are expected to have flared up in the quarter under review on the opening of private banking offices, franchise expansion, as well as investments in newer technological advancements.
Management projects adjusted non-interest expenses to be stable in the third quarter compared with the second-quarter 2024 level of $1.27 billion.
Asset Quality: The company is expected to have set aside substantial money for potential bad loans, especially commercial loans which accounted for 50.7% of total loans and leases as of June 30, 2024, given the expectations of an economic slowdown.
The Zacks Consensus Estimate for non-accrual loans and leases is pegged at $1.54 billion, indicating a rise of 1.2% from the previous quarter&#39;s reported figure. Our estimate for the metric is pegged at $1.51 billion.
<h2>What Our Model Unveils for CFG?</h2>
Our proven model predicts an earnings beat for Citizen Financial this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you can see below.
Earnings ESP: Citizens Financial has an Earnings ESP of +0.31%.
Zacks Rank: The company currently carries a Zacks Rank of 3.
The Zacks Consensus Estimate for third-quarter earnings has remained unchanged in the past seven days at 78 cents per share. It suggests a year-over-year decline of 8.24%.
The consensus estimate for quarterly revenues of $1.94 billion indicates a 3.6% decline from the prior-year quarter&#39;s reported figure.
<h2>Other Stocks to Consider</h2>
Here are some other bank stocks that you may want to consider, as our model shows that these, too, have the right combination of elements to post an earnings beat this time around:
First Horizon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fhn#NYSE">FHN</a>) has an Earnings ESP of +3.18% and carries a Zacks Rank #3 at present. The company is scheduled to release its third-quarter 2024 earnings on Oct. 16.
FHN&#39;s quarterly earnings estimates have been unchanged over the past 60 days.
The Earnings ESP for M&amp;T Bank Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtb#NYSE">MTB</a>) is +0.49% and it carries a Zacks Rank #3 at present. The company is slated to report its third-quarter 2024 results on Oct. 17.
Over the past seven days, the Zacks Consensus Estimate for MTB&#39;s quarterly earnings has remained unchanged in the past seven days.
<a href="https://www.zacks.com/stock/news/2348450/fee-income-to-support-citizens-financial-s-q3-earnings-amid-lower-nii?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2348450">To read this article on Zacks.com click here.</a>

Fee Income to Support Citizens Financial's Q3 Earnings Amid Lower NII

Robinhood Markets Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) plans to offer its British users the ability to invest in U.K. stocks as the company seeks growth beyond domestic markets. The company&#39;s CEO and co-founder, Vlad Tenev, mentioned this in an interview with Bloomberg on Friday.
This move, if executed, would follow the roll-out of commission-free trading by HOOD for more than 6,000 U.S.-listed stocks to U.K. investors.
<h2>HOOD&#39;s Rationale Behind This Pursuit</h2>
HOOD has been aiming to enter new markets in recent years to diversify its business and become less dependent on trading revenues. The trading activities have weakened after a pandemic-induced boom that led to inflated enthusiasm for meme stocks, driving up Robinhood&#39;s trading revenues in the process.
Tenev stated, &quot;We are looking ahead to multi-currency wallet support and local execution, including the London Stock Exchange. There&#39;s been huge demand for options as well &mdash; options on US equities &mdash; because that&#39;s just hard to come by here in the UK market.&quot;
Tenev further stated that the firm has realigned its emphasis within the U.S. markets, focusing on high-interest income-producing areas, such as retirement products and credit cards.
United Kingdom is a competitive market for Robinhood with firms like Revolut Ltd., eToro Group Ltd., Trading 212 Group Ltd. and Freetrade Ltd., which have been offering trading in U.K. stocks and compete with incumbents like Hargreaves Lansdown Plc, Fidelity Investments and AJ Bell Plc.
Robinhood seeks to replicate its success in the United States through no-commission trading, which was adopted by the other major players in the domain, increasing U.S. household investments into equities by 27% after HOOD&#39;s debut, while in the U.K. markets, this trend has been steady, noted Tenev.
&quot;Unlike the US, there hasn&#39;t really been a zero-commission revolution. We are hoping to change that here&quot; Tenev further mentioned.
<h2>Robinhood&#39;s Other Growth Initiatives</h2>
This move aligns with the company&#39;s growth strategy in recent years. This July, the company acquired Pluto Capital Inc. to enhance its offerings with intelligent, data-driven investing tools. In June, Robinhood agreed to acquire Bitstamp Ltd to propel its cryptocurrency division into new international markets.
Further, this March, the company unveiled its first-ever credit card to expand its services beyond mainstream trading. This card will be available to Robinhood Gold customers.
Over the past six months, HOOD shares have gained 23.3%, outperforming the industry&#39;s 10.8% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/fa/80549.jpg?v=1667015127" />
Image Source: Zacks Investment Research
Currently, Robinhood sports a Zacks Rank #1 (Strong Buy).
<h2>Restructuring Initiatives by Other Finance Firms</h2>
Last week, JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) agreed to partner with Cliffwater, FS Investments and Shenkman Capital Management Inc. to boost its reach in the $1.7-trillion global private credit markets. The news was first reported by Bloomberg, citing people with knowledge of the matter.
Now, JPM will originate loans and invest in them alongside the direct lenders, who can only decline to participate in a handful of transactions over a pre-determined period.
Similarly, Citizens Financial Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cfg#NYSE">CFG</a>) 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 CFG&#39;s expansion in California, highlighting an integrated approach to growth across the key business lines of Private Banking, Wealth Management and Corporate &amp; Investment Banking.
<a href="https://www.zacks.com/stock/news/2346893/robinhood-mulls-over-introducing-uk-stock-investing-for-british-users?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2346893">To read this article on Zacks.com click here.</a>

Offerings

Events

Robinhood Mulls Over Introducing UK Stock Investing for British Users

Citizens Financial Group's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) short percent of float has risen 9.91% since its last report. The company recently reported that it has 12.65 million shares sold short, which is 3.77% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.26 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Citizens Financial Group Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727892912_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Citizens Financial Group has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Citizens Financial Group's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Citizens Financial Group's peer group average for short interest as a percentage of float is 3.43%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Evercore ISI Group analyst John Pancari maintains Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) with a In-Line and lowers the price target from $47 to $46.

Evercore ISI Group Maintains In-Line on Citizens Financial Group, Lowers Price Target to $46

David Chiaverini, an analyst from Wedbush, maintained the Hold rating on Citizens Financial (CFG – Research Report). The associated price target wa...

Cautious Outlook on Citizens Financial: Hold Rating Amid Mixed Quarterly Performance and Modest Growth Projections

In a report released today, Jason Goldberg from Barclays maintained a Hold rating on Citizens Financial (CFG – Research Report), with a price targe...

Barclays Sticks to Its Hold Rating for Citizens Financial (CFG)

KBW analyst David Konrad reiterated a Hold rating on Citizens Financial (CFG – Research Report) today and set a price target of $46.00. The company...

KBW Keeps Their Hold Rating on Citizens Financial (CFG)

In a report released yesterday, Ebrahim Poonawala from Bank of America Securities reiterated a Hold rating on Citizens Financial (CFG – Research Re...

Hold Rating for Citizens Financial Amid Mixed Growth Prospects and Macroeconomic Concerns

RBC Capital analyst Gerard Cassidy maintained a Buy rating on Citizens Financial (CFG – Research Report) yesterday and set a price target of $45.00...

Citizens Financial (CFG) Gets a Buy from RBC Capital

In a report released today, John Pancari from Evercore ISI maintained a Hold rating on Citizens Financial (CFG – Research Report), with a price tar...

Citizens Financial (CFG) Gets a Hold from Evercore ISI

In a report released today, Peter Winter from D.A. Davidson maintained a Buy rating on Citizens Financial (CFG – Research Report), with a price tar...

D.A. Davidson Keeps Their Buy Rating on Citizens Financial (CFG)

U.S. banks are considering more aggressive cuts to interest payments for corporate depositors as they seek to protect profit margins after the Fede...

U.S. banks consider cuts to interest payments for corporate depositors, FT says

ESG 'transition' funds are an emerging trend – Here the most overweight stocks by ESG funds

Citizens Financial (CFG) Gets a Hold from Barclays

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Press Releases

College Raptor Reveals Tenth Annual Hidden Gem Colleges for 2025

Citizens Financial Group Announces Appointment of Claude E. Wade to Board of Directors; Wendy Watson to Retire

Citizens Financial Group Announces Third Quarter 2024 Earnings Conference Call Details

Citizens Continues California Expansion with Addition of Two Bay Area Private Banking Offices and SoCal Private Banking Team

Citizens Bank, N.A. Announces Redemption of Senior Notes

Citizens Financial Group, Inc. Announces Date and Time Change for Second Quarter 2025 Results Conference Call

Citizens Financial Group, Inc. Reports Third Quarter 2024 Net Income of $382 million and EPS of $0.77

Citizens Financial Group Announces Earnings Conference Call Schedule for 2026 Quarterly Financial Results

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