Welcome to our dedicated page for Citizens Finl Group news (Ticker: CFG), a resource for investors and traders seeking the latest updates and insights on Citizens Finl Group stock.
Citizens Financial Group, Inc. reports banking results and capital actions for a bank holding company serving consumers, small businesses, middle-market companies, large corporations and institutions. Its recurring updates center on Consumer Banking and Commercial Banking activity, including deposits, mortgage and home equity lending, credit cards, small business loans, education loans, point-of-sale finance loans, wealth management and commercial banking services.
Company news also includes quarterly earnings materials, common and preferred stock dividend announcements, investor conference participation and community finance initiatives. Citizens’ public updates frequently connect financial performance with balance sheet trends, credit conditions, private banking activity, financial literacy programs, nonprofit partnerships and small-business support in the markets the bank serves.
Citizens Financial Group (CFG) reported Q4 2024 net income of $401 million and EPS of $0.83, with underlying net income of $412 million and EPS of $0.85. The company achieved full-year 2024 net income of $1.5 billion and EPS of $3.03, with underlying EPS of $3.24.
The bank maintained strong financial metrics with a CET1 ratio of 10.8% and loan-to-deposit ratio of 79.6%. The Private Bank division reached significant milestones with $7 billion in deposits, $3.1 billion in loans, and $4.7 billion in assets under management.
The board declared a quarterly dividend of $0.42 per share, payable on February 14, 2025. As of December 31, 2024, Citizens reported total assets of $217.5 billion and maintains approximately 1,000 branches across 14 states and DC.
Citizens Bank announced the early redemption of its outstanding $350 million Fixed/Floating Rate Senior Notes. The notes, originally due January 26, 2026, will be redeemed on January 27, 2025. The redemption price will be 100% of the principal amount plus any accrued and unpaid interest up to the redemption date. After January 27, 2025, the notes will cease to be outstanding, and no further interest will accrue. The redemption payment will be processed through The Depository Trust Company.
Citizens Financial Group (NYSE: CFG) has released its 2025 M&A Outlook, revealing dealmaker sentiment at a five-year high with 54% of decision-makers viewing the current M&A environment as strong. The survey of 400 middle-market companies and private equity firms shows increased optimism, with 57% expecting U.S. economic improvement.
Private equity firms are particularly optimistic, with 68% viewing the M&A environment as strong, up from 52% last year. The seller pool has expanded significantly, with 73% of middle-market companies identifying as potential sellers, compared to 63% last year. Key trends include growing openness to partial sales, increased interest in AI capabilities acquisition, and higher consideration of international deals, with 74% of PE firms more likely to consider investments outside the U.S.
Citizens Financial Group (NYSE: CFG) has announced its upcoming fourth quarter and full year 2024 earnings conference call, scheduled for January 17, 2025, at 9:00 AM ET. The company will release its earnings report and supplemental materials on the same day, which will be accessible through their investor relations website.
Interested parties can participate in the conference call by dialing 800-369-1703 with conference ID 1679767. A live webcast will be available on the company's investor website. For those unable to attend, a replay will be accessible from 12:00 PM ET on January 17 through February 17, 2025.
Citizens Financial Group (NYSE: CFG) has announced that its subsidiary, Citizens Bank, will reduce its prime lending rate by 25 basis points, from 7.75% to 7.50%. The new rate will take effect on Thursday, December 19, 2024. This adjustment in the prime rate, which serves as a benchmark for various consumer and commercial loan products, reflects changes in the broader interest rate environment.
Citizens Financial Group (NYSE: CFG) announced that Chairman and CEO Bruce Van Saun will participate in the Goldman Sachs U.S. Financial Services Conference. The event is scheduled for Tuesday, December 10, 2024, at 10:00 am ET. Interested parties can access the live webcast through the company's investor relations website under the Events & Presentations section.
Citizens announces three key executive appointments to strengthen its consumer banking leadership team. Raman Muralidharan joins as Head of Mortgage, while Adam Boyd and Nuno Dos Santos are promoted to Head of Lending and Head of Retail Banking, respectively. These appointments aim to accelerate the bank's transformation and enhance customer experience.
Muralidharan brings two decades of mortgage industry experience from Guaranteed Rate and HSBC. Boyd, who led the successful FastLine® home equity lending transformation, will oversee consumer lending operations. Dos Santos, who achieved top-quartile growth in the Tri-State Metro market, will manage over 5,000 colleagues across 1,000 retail branches.
Citizens Financial Group (NYSE: CFG) has announced a decrease in its prime lending rate from 8.00% to 7.75%, effective November 8, 2024. The bank, headquartered in Providence, Rhode Island, manages assets worth $219.7 billion as of September 30, 2024. Citizens operates approximately 1,000 branches and 3,100 ATMs across 14 states and D.C., offering comprehensive retail and commercial banking services including mobile banking, lending, savings, wealth management, treasury management, and corporate finance solutions.
Citizens Financial Group (NYSE: CFG) has declared quarterly dividends on its preferred stock series, payable on January 6, 2025, to shareholders of record as of December 20, 2024. The dividends include: $19.85 per share on Series B, $20.24 on Series C, $12.50 on Series E ($0.31 per depositary share), $14.13 on Series F, $10.00 on Series G, and $18.44 on Series H ($0.46 per depositary share). Citizens Financial Group, with $219.7 billion in assets, operates approximately 1,000 branches and 3,100 ATMs across 14 states and D.C., offering retail and commercial banking services.
Citizens Financial Group (NYSE: CFG) has announced its 2026 quarterly financial results schedule. Conference calls will be held on: April 16 (Q1), July 16 (Q2), October 16 (Q3), and January 20, 2027 (Q4), all at 9 am ET. The company, with $219.7 billion in assets as of September 30, 2024, operates approximately 3,100 ATMs and over 1,000 branches across 14 states and DC, providing comprehensive retail and commercial banking services.