Citizens Finl Group Inc Stock Price, News & Analysis

Citizens has become the first official title sponsor of the House of Blues Boston, marking the fifth venue under its Citizens Live portfolio. This partnership emphasizes Citizens' commitment to supporting live entertainment in Boston. The venue sponsorship will enhance collaboration with the Music Forward Foundation, which promotes music education for underserved youth. Citizens Live benefits include early ticket access for customers at multiple venues. With $226.7 billion in assets as of December 31, 2022, Citizens is a significant player in the financial sector, offering various banking services to individuals and businesses.

Citizens Financial Group (NYSE: CFG) announced the schedule for its 2024 quarterly financial results and conference calls. Key dates include:

• First Quarter: April 17, 2024, at 9 am ET
• Second Quarter: July 17, 2024, at 9 am ET
• Third Quarter: October 16, 2024, at 9 am ET
• Fourth Quarter: January 17, 2025, at 9 am ET

Details on dial-in information will be shared later, while news releases and supporting materials will be accessible on their investor relations website. Citizens Financial Group is a leading financial institution, boasting $226.7 billion in assets as of December 31, 2022.

Citizens has launched its annual Small Business Community Champion Award Contest, now in its sixth year, recognizing the contributions of small businesses. The contest offers a total of $300,000 to 30 small businesses, including ten minority-owned and ten women-owned. Applications are accepted until February 7, 2023. Citizens has previously awarded nearly one million dollars to help 82 small businesses enhance their operations and community support. Eligible for-profit small businesses must have up to $3M in annual revenue and at least five employees.

Citizens Financial Group reported a drop in its national Citizens Business Conditions Index™ (CBCI) to 48.5 for Q4, ending eight quarters of growth. This decline reflects the impact of Federal Reserve rate hikes as inflation eased for the first time in 2022.

Despite moderated business activity, consumer spending in travel and recreation remained strong. The index components were mixed, with commercial banking clients showing positive conditions, while rising jobless claims and softening new business applications weighed on overall performance. The labor market's stability is emphasized, with an unemployment rate of 3.5%. The report indicates a cautious outlook amid recession signals from the bond market.

Citizens Financial Group, Inc. (NYSE: CFG) will be represented by Chairman and CEO Bruce Van Saun at the Bank of America Financial Services Conference on February 14, 2023, at 2:30 pm ET. The conference provides a platform for discussing financial services trends and company updates.

The event will be accessible via a live webcast at investor.citizensbank.com. Citizens, headquartered in Providence, Rhode Island, reported $226.7 billion in assets as of December 31, 2022, and offers a comprehensive range of banking services.

Citizens Financial Group, Inc. (CFG) reported a solid performance for Q4 2022, with an underlying net income of $685 million and earnings per share (EPS) of $1.32. For the full year 2022, net income reached $2.1 billion, translating to an EPS of $4.10 and $4.84 on an underlying basis. The company achieved a return on tangible common equity (ROTCE) of 19.4% and announced a quarterly dividend of $0.42 per share, payable on February 14, 2023. Citizens remains well-prepared for the economic environment ahead and has raised its medium-term ROTCE target to between 16% and 18%.

Citizens’ 2023 M&A Outlook indicates a positive sentiment among U.S. middle-market companies and private equity firms, signaling a return to pre-pandemic merger and acquisition trends. The survey of 400 leaders reveals that over 80% anticipate stable or improved company valuations in 2023. Despite economic headwinds like inflation and rising rates, 84% of firms have successfully passed cost increases to customers. M&A is seen as the primary growth driver, with 62% of buyers motivated by growth. Additionally, 40% of companies are currently considering selling, reflecting a robust market environment.

Citizens Financial Group, Inc. (NYSE: CFG) has raised its prime lending rate to 7.50 percent from 7.00 percent, effective December 15, 2022. This decision reflects adjustments in response to economic conditions and market demands. As of September 30, 2022, Citizens Financial Group reported $224.7 billion in assets, marking it as one of the largest financial institutions in the U.S. Citizens Bank offers a range of services, including retail and commercial banking across 14 states and the District of Columbia.