Citizens Finl Group Inc - CFG STOCK NEWS

Citizens Financial Group (NYSE: CFG) reported strong Q2 2022 results with an underlying net income of $595 million and EPS of $1.14. The acquisition of Investors Bancorp was completed, contributing to robust loan growth despite inflationary pressures. The company announced an 8% dividend increase to $0.42 per share, payable on August 16, 2022. Additionally, the board authorized a $1 billion stock repurchase. Overall, Citizens maintains a strong capital and liquidity position.

Citizens Financial Group, Inc. (NYSE: CFG) has entered a definitive agreement to acquire select assets and liabilities of Paladin Advisors, a New Hampshire-based independent investment advisor. This strategic acquisition aims to enhance Citizens' wealth management capabilities and expand its geographical presence. The deal is expected to close in Q3 2022, integrating Paladin's unique asset allocation strategies into Citizens' existing wealth management framework. The acquisition aligns with Citizens' goals of providing tailored financial services and expanding its client offerings.

Citizens Financial Group has released its 2021 Corporate Responsibility Report, titled Creating a Brighter Tomorrow, showcasing its achievements in environmental, social, and governance (ESG) initiatives. The company announced its membership in the Partnership for Carbon Accounting Financials (PCAF), focusing on measuring greenhouse gas emissions related to loans and investments. Citizens aims to reduce Scope 1 and 2 emissions by 30% by 2025 and 50% by 2035, and it plans to release its first climate report aligned with the Task Force on Climate-Related Financial Disclosures (TCFD) later this year.

Citizens Financial Group (NYSE: CFG) will announce its second quarter 2022 earnings on July 19, 2022. The news release and supplementary materials will be accessible on their investor relations website. A conference call will be held at 9:00 am ET on the same day, with call-in details provided. The replay of the call will be available from 12:00 pm ET July 19 through August 19, 2022. Citizens Financial Group, headquartered in Providence, Rhode Island, manages assets totaling $192.1 billion as of March 31, 2022.

Citizens Financial Group has announced a commitment of $350,000 for workforce development in Queens, New York. This funding will support partners such as Pursuit, Rockaway Development & Revitalization Corporation, and Ocean Bay Community Development Corporation, focusing on essential technical skills in IT and telecommunications. Notably, $250,000 will fund Pursuit's Bridge to Technology Program, while the remaining will aid telecommunications training and work readiness programs, advancing economic opportunities in the community.

Citizens Financial Group, Inc. (NYSE: CFG) has announced an increase in its common share repurchase authorization to $1.0 billion, up by $545 million from the previous $455 million remaining under its earlier $750 million plan. This decision follows the Federal Reserve's June 2022 stress test results and a preliminary Stress Capital Buffer (SCB) of 3.4% effective October 1, 2022. Additionally, the Board of Directors will consider a dividend increase for Q3 2022, reflecting the company’s strong capital position.

Citizens Financial Group, Inc. (NYSE: CFG) announced a rise in its prime lending rate from 4 percent to 4.75 percent, effective Thursday, June 16, 2022. This change reflects the bank's response to prevailing economic conditions and aims to maintain competitiveness in the lending market. As of March 31, 2022, the company reported $192.1 billion in assets, solidifying its status as one of the nation's largest financial institutions. Citizens offers a variety of banking products and services to a diverse clientele across the U.S.

Citizens Financial Group has introduced Citizens Paid Early™, allowing customers to access their paychecks up to two days earlier, effective June 5. This new feature is available for all personal Checking, Savings, and Money Market Accounts. Additionally, the bank will eliminate nonsufficient funds and Savings Overdraft Protection fees by year-end, aiming to improve financial management for customers. The initiative aligns with a 2021 survey showing consumer interest in faster paycheck access.

Citizens Financial Group, Inc. (NYSE: CFG) has successfully completed its acquisition of DH Capital LLC, a private investment banking firm specializing in Internet infrastructure and IT services. DH Capital has executed over 200 transactions valued at approximately $35 billion. This strategic move is expected to enhance Citizens' market presence and banking capabilities in the technology sector.