Citizens Finl Group Inc Stock Price, News & Analysis

Citizens Financial Group, Inc. (NYSE: CFG) has declared dividends for its preferred stock, payable on April 6, 2021. Shareholders of record by March 22, 2021, will receive:

• $10.493125 per share for Series A (5.500%)
• $15.9375 per share for Series C (6.375%)
• $15.875 per share ($0.396875 per depositary share) for Series D (6.350%)
• $12.50 per share ($0.3125 per depositary share) for Series E (5.000%)
• $14.125 per share for Series F (5.650%)

With $183.3 billion in assets, Citizens continues to serve a diverse customer base across various banking sectors.

Citizens Bank, N.A. announced the redemption of all outstanding 2.550% Senior Notes due May 13, 2021, with an aggregate principal amount of $1,000,000,000. The redemption will occur on April 13, 2021. The redemption price will be 100% of the principal plus any accrued interest up to the Redemption Date. After this date, the Notes will no longer be considered outstanding and will cease to accrue interest. Payment will be processed through The Depository Trust Company.

Citizens Financial Group (NYSE: CFG) announced that Vice Chairman and CFO John F. Woods will speak at the RBC Capital Markets Financial Institutions Conference on March 10, 2021, at 9:20 am ET. Interested parties can access the webcast via the company's investor relations website under Events & Presentations.

With $183.3 billion in assets, Citizens is one of the largest financial institutions in the U.S., providing a range of banking services to consumers and businesses across multiple regions.

Citizens has launched its annual Small Business Community Champion Award Contest, now in its fourth year, to honor small businesses’ contributions to local communities. This year, the contest features a record $300,000 prize pool, with $10,000 awarded to 30 small businesses, including at least ten minority-owned and ten women-owned businesses. Nominations are open until March 1, 2021. Eligible for-profit small businesses must have been operating for at least two years and have revenues up to $3M.

Citizens Financial Group announced the final results of its exchange offers for five series of subordinated notes, which expired on February 9, 2021, and settled on February 11, 2021. Under the terms, Citizens accepted a total principal amount of approximately $450 million in old notes and issued new notes worth $134.6 million, $68.7 million, and $60.5 million, respectively. Citizens also paid additional cash consideration of $569,400 and accrued interest of $1.6 million. The new notes are not registered under the Securities Act, limiting their offering in the U.S. to qualified buyers.

Citizens Financial Group (NYSE: CFG) is set to release its Q1 2021 earnings on April 16, 2021. The news release, along with supplemental materials, will be available on their investor relations website. A conference call will take place at 8:00 AM ET, with dial-in details provided. Additionally, a replay of the call will be accessible after the live event until May 16, 2021. Citizens Financial Group, with $183.3 billion in assets as of December 31, 2020, offers a range of banking products to individuals and businesses across the United States.

Citizens Financial Group, Inc. (CFG) announced the results of its Exchange Offers for five series of subordinated notes, which expired on February 9, 2021. The transaction involves the exchange of Old Notes for New Notes, including three series of fixed-rate reset subordinated notes due 2031. The expected issuance includes approximately $134.6 million of the 4.300% notes, alongside $68.7 million of 3.750% notes and $60.5 million of 4.350% notes. Citizens will not receive cash proceeds from this offer. Settlement is anticipated to occur on February 11, 2021.

The Citizens Business Conditions Index™ rose to 61.4 in Q4 2020, up from 61.2 in Q3, indicating ongoing economic recovery amid COVID-19 vaccine optimism. Key sectors like financial and energy showed strength, while manufacturing remained robust. Despite a weak December jobs report, overall employment increased. The manufacturing index improved significantly, showcasing resilience in the economy. The report suggests a healthy corporate deal-making environment driven by anticipated tax policy changes.

Citizens Financial Group (NYSE: CFG) announced that Brendan Coughlin, Head of Consumer Banking, will participate in the Credit Suisse Annual Financial Services Forum on February 25, 2021, at 8:50 am ET. The event will be streamed live, with access available on Citizens' investor relations website under Events & Presentations. Established in Providence, Rhode Island, Citizens Financial Group boasts $183.3 billion in assets as of December 31, 2020, offering a wide range of banking products and services across the U.S.