Citizens Finl Group Inc Stock Price, News & Analysis

Citizens Financial Group reported robust third quarter 2020 results with record revenue and pre-provision profit. The bank bolstered its loan loss reserve and increased its CET1 capital ratio to 9.8%. The board declared a quarterly dividend of $0.39 per share, an 8% increase year-over-year, payable on November 12, 2020. Citizens emphasizes its resilience during challenging market conditions, focusing on customer support and business diversification. The company continues to maintain a strong position with $179.2 billion in assets as of September 30, 2020.

Citizens Bank announces a $1 million contribution to Feeding America for the third consecutive year, reinforcing its commitment to combat hunger, especially in the wake of the COVID-19 pandemic. A portion of this funding, $133,000, is directed to Feeding America’s COVID-19 Response Fund for emergency food relief. The partnership has previously facilitated 12 million meals in 2019. CEO Bruce Van Saun emphasized the critical role of local food banks during this crisis. Feeding America's CEO noted that 1 in 6 individuals may face hunger this year due to increased food insecurity.

Citizens Financial Group (NYSE: CFG) announces participation at the Bank of America Future of Financials Virtual Conference on November 10, 2020, at 8:50 am ET. Vice Chairman and CFO John Woods, along with President of Consumer Lending Eric Schuppenhauer, will represent the bank. The live webcast can be accessed at investor.citizensbank.com.

As of June 30, 2020, Citizens Financial reported assets totaling $179.9 billion, providing a wide range of financial services across New England, Mid-Atlantic, and Midwest regions.

Citizens Financial Group (NYSE: CFG) announces participation in the 39th Annual BancAnalysts Association of Boston Conference on November 5, 2020, at 1:00 pm ET. The conference will feature Vice Chairman and CFO John Woods, alongside Chief Credit Officer Malcolm Griggs. A live webcast will be accessible at investor.citizensbank.com under Events & Presentations. As of June 30, 2020, Citizens Financial Group holds $179.9 billion in assets, offering a wide range of banking services across New England, Mid-Atlantic, and Midwest regions.

Citizens Financial Group, Inc. (NYSE: CFG) has announced the dates for its financial results releases and live conference calls for 2021 and 2022. Key dates include the Fourth Quarter 2020 results on January 20, 2021, the First Quarter 2021 results on April 16, 2021, and subsequent quarters through January 19, 2022. Citizens, headquartered in Providence, Rhode Island, has $179.9 billion in assets as of June 30, 2020, and offers a wide range of banking products and services across multiple regions.

Citizens Bank, N.A. announced the redemption of its 2.250% Senior Notes, totaling $750 million, on October 13, 2020. The redemption will cover the full principal amount along with any accrued interest. Post-redemption, the Notes will no longer be outstanding, and interest will cease to accrue. Payments will be processed through The Depository Trust Company. Citizens Financial Group, Inc., headquartered in Providence, R.I., offers a variety of banking services with assets of $179.9 billion as of June 30, 2020, catering to individuals and businesses across multiple regions.

Citizens Financial Group (CFG) announced the successful completion of two related transactions: Exchange Offers and Cash Offers for its subordinated notes. The Exchange Offers, which expired on September 25, 2020, resulted in the acceptance of $620,555,000 in new subordinated notes due 2032. Key highlights include the acceptance of significant amounts of various series of old notes and the absence of cash proceeds from these transactions. The New Notes are unregistered under the Securities Act, and the company has entered a registration rights agreement for them.

Citizens Bank has awarded 100 grants of $15,000 each, totaling $1.5 million, to minority-owned small businesses to enhance social equity and economic advancement in underserved communities. This initiative is part of a broader $10 million investment aimed at promoting economic growth. Applicants demonstrated how they would use the funds to strengthen their businesses and communities. Additionally, the program offers mentorship through SCORE to further support grant recipients.

Citizens Financial Group, Inc. (CFG) announced the expiration results of its Exchange Offers and Cash Offers to repurchase five series of subordinated notes. The Exchange Offers involved swapping Old Notes for new subordinated Notes due 2032, with a total exchange price of approximately $617,064,000. The Cash Offers also expired simultaneously, and while cash payments were accepted for certain Old Notes, some series had limited participation. Citizens expects to settle these transactions shortly after September 30, 2020. No cash proceeds will be received from these offers.