Citizens Finl Group Inc Stock Price, News & Analysis

Citizens Financial Group has expanded its partnership with Microsoft to offer point-of-sale financing at the Microsoft Store. Customers in the U.S. can now access no-interest financing for all Microsoft products through the Citizens Pay platform. The initiative introduces 12- and 18-month installment terms without additional credit checks, enhancing affordability for consumers ahead of the holiday season. This builds on a previous successful collaboration involving Xbox All Access financing.

Citizens Financial Group (NYSE: CFG) announced that Chairman and CEO Bruce Van Saun will participate in the Goldman Sachs U.S. Financial Services Conference on December 7, 2021, at 8:40 am ET. A live webcast can be accessed via investor.citizensbank.com.

As of September 30, 2021, Citizens manages $187.0 billion in assets, offering a range of banking services across the New England, Mid-Atlantic, and Midwest regions.

Citizens Financial Group, Inc. (NYSE: CFG) has successfully completed the acquisition of JMP Group LLC, a capital markets firm specializing in investment banking services, including strategic advisory and equity research, targeting sectors like healthcare and technology. JMP, founded in 1999 and headquartered in San Francisco, will function as a wholly-owned subsidiary. This acquisition enhances Citizens' corporate financial advisory capabilities and aims to leverage synergies in investment banking.

Citizens Financial Group, Inc. (NYSE: CFG) has declared several dividends on its preferred stock, payable on January 6, 2022, to shareholders of record on December 22, 2021. The dividends include:

• $30.00 per share for Series B
• $15.9375 per share for Series C
• $15.875 per share for Series D
• $12.50 per share for Series E
• $14.125 per share for Series F
• $10.00 per share for Series G

Citizens Financial Group (NYSE: CFG) announced that Brendan Coughlin, Head of Consumer Banking, will participate in the BancAnalysts Association of Boston Conference on Thursday, November 4, 2021, at 1:00 pm ET. The event will be accessible via a live webcast at investor.citizensbank.com under Events & Presentations. As of September 30, 2021, Citizens Financial Group manages $187.0 billion in assets, offering a wide range of banking products and services across 11 states, enhancing customer experiences through mobile and online banking.

The Citizens Business Conditions Index™ (CBCI) for Q3 is 57.1, slightly down from 57.4 in Q2, indicating a sustained recovery. Key underlying components such as ISM indexes for manufacturing and non-manufacturing are robust, reflecting high business confidence. Consumer spending has fully recovered in sectors like clothing and healthcare, although travel and dining remain below pre-pandemic levels. Initial jobless claims have decreased, but new business applications showed lower momentum. Despite pandemic challenges, low interest rates and fiscal support continue to drive growth.

Citizens Financial Group, Inc. (CFG) reported a strong third quarter 2021 with an underlying net income of $546 million and earnings per share (EPS) of $1.22. Revenue growth was driven by net interest income and fees, achieving positive operating leverage of over 2%. The board declared a fourth quarter dividend of $0.39, payable on November 12, 2021. Chairman and CEO Bruce Van Saun maintains a positive outlook despite challenges posed by the pandemic, anticipating recovery into 2022.

Citizens Financial Group announced new initiatives to enhance customer banking experiences, including the launch of Citizens Peace Of Mind™ on October 1, allowing customers to avoid overdraft fees by replenishing their accounts before the next business day. The feature is complemented by a $5 Overdraft Pass for minor overdrafts. Additionally, Citizens will introduce a new checking account in Q1 2022 that meets Bank On standards to support underbanked communities. The bank aims to foster financial literacy and accessibility.