Citizens Financial (CFG) Q1 Earnings Miss Estimates, Costs Rise [Yahoo! Finance]
Citizens Financial Group, Inc. (CFG)
Last citizens financial group, inc. earnings: 4/17 06:37 am
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US:NYSE Investor Relations:
investor.citizensbank.com/about-us/investor-relations.aspx
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Source: Yahoo! Finance
The bottom line declined from $1 in the year-ago quarter. Underlying EPS for the first quarter of 2024 was 79 cents, down from $1.10 reported in the year-ago quarter. Results were adversely affected by lower net interest income (NII) and a rise in provisions and operating expenses. However, an increase in non-interest income and lower allowance for credit losses offered some support. Net income was $334 million, down 34.6% from the prior-year quarter. Revenues Fall and Expenses Rise Total revenues in the first quarter were $1.96 billion, which missed the consensus estimate of $1.97 billion. Also, the top line declined 7.9% year over year. Citizens Financial's NII decreased 12.2% year over year to $1.44 billion due to a lower net interest margin and a decline in average interest-earning assets. Our estimate for NII was the same as the reported number. The net interest margin (NIM) shrunk 39 basis points to 2.91% on the back of increased funding costs and the impact of bui
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News
- Citizens Financial Group to Participate at the Barclays Americas Select Franchise Conference [Yahoo! Finance]Yahoo! Finance
- Citizens Financial Group to Participate at the Barclays Americas Select Franchise ConferenceBusiness Wire
- Citizens Financial Group, Inc. (NYSE: CFG) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Citizens Financial Group, Inc. (NYSE: CFG) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating. They now have a $41.00 price target on the stock, up previously from $35.00.MarketBeat
- Don't Race Out To Buy Citizens Financial Group, Inc. (NYSE:CFG) Just Because It's Going Ex-Dividend [Yahoo! Finance]Yahoo! Finance
CFG
Earnings
- 4/17/24 - Miss
CFG
Sec Filings
- 4/26/24 - Form 8-K
- 4/26/24 - Form 4
- 4/26/24 - Form 4
- CFG's page on the SEC website