Citizens Financial Group Inc

CFG

Equity

ISIN US1746101054 / Valor 24463356

New York Stock Exchange, Inc (2024-12-23)

USD 43.57+0.28%

Citizens Financial Group Inc
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About company

Citizens Financial Group Inc. is a financial services company that provides a wide range of banking and financial products and services to individuals, small businesses, and corporations.

Summarized from source with an LLMView SourceSector: Finance

Net Income and EPS

In the third quarter of 2024, Citizens Financial Group Inc. reported a net income of $382 million, translating to an earnings per share (EPS) of $0.77. The underlying net income was slightly higher at $392 million, with an EPS of $0.79, indicating a stable financial performance for the quarter.

Capital and Liquidity

Citizens Financial Group Inc. maintained a strong capital position in the third quarter of 2024, with a Common Equity Tier 1 (CET1) ratio of 10.6%. The loan-to-deposit ratio (LDR) stood at 80.8%, reflecting a robust liquidity position and effective balance sheet management.

Private Bank Growth

During the third quarter of 2024, Citizens Financial Group Inc.'s Private Bank achieved significant growth, reaching $5.6 billion in deposits and $4.1 billion in assets under management (AUM). This growth underscores the bank's successful execution of its strategic initiatives in the private banking sector.

Dividend Announcement

Citizens Financial Group Inc. declared a quarterly common stock dividend of $0.42 per share for the third quarter of 2024. The dividend is scheduled to be paid on November 13, 2024, to shareholders who are on record as of the close of business on October 30, 2024.

Future Outlook

Looking ahead, Citizens Financial Group Inc. projects a strong performance in the fourth quarter of 2024 and into 2025. Despite some challenges in the third quarter, such as the impact of forward-starting swaps and deferred fees, the company remains optimistic about its growth prospects and strategic initiatives.

Summarized from source with an LLMView Source

Key figures

31.8%1Y

-6.56%3Y

7.74%5Y

Performance

30.5%1Y

36.1%3Y

46.7%5Y

Volatility