Solid fee income growth, along with reduced expenses, supports CFG's Q4 earnings. Lower NII and loans and deposit balances are headwinds.
Citizens Financial Group's Q4 results show mixed performance, with declines in deposits and loans but slight improvements in net income and EPS. Despite tightening lending standards, key metrics like asset quality and net loan charge-offs have not significantly improved, justifying a hold rating. Return on average assets and equity saw slight improvements, but overall metrics still trend negatively, making Citizens less attractive compared to higher-yielding banks.
Citizens Financial Group, Inc. CFG will release earnings results for its fourth quarter, before the opening bell on Friday, Jan. 17, 2025.
CFG's Q4 2024 results are expected to be hurt by a rising cost base and weak asset quality. However, a rise in NII and fee income are likely to offer support.
Andrew Boone, Citizens JMP research analyst, joins 'Squawk Box' to discuss the challenges ahead for Peloton.
I am downgrading Citizens Financial Group (CFG) to a hold due to fair valuation and mixed technicals despite a 64% gain since April 2023. Key January catalysts include the December payrolls report, bank earnings, and a Fed meeting, with CFG's Q4 earnings report on January 17 being crucial. CFG's Q3 results were mixed, with a revenue miss and slight NIM decline, but Q4 projections show potential NII and non-interest income growth.
First Citizens Bancshares Inc FCNCA shares have climbed more than 50% year to date.
STOCK MOVES UP OVER 4% ON DAY
The financial sector is expected to benefit significantly from the loosening of bank regulation under Trump. First Citizens BancShares is an asset-sensitive bank and thrives in a high interest environment. Trump's trade and immigration policies definitely make the case for higher inflation going forward.
Citizens Financial Group, Inc.'s Q3 earnings showed declines in deposits and loans, with revenues down 5.6% year-over-year, and net income narrowing to $382 million. Asset quality metrics deteriorated, with net interest margin falling to 2.77% and nonaccrual loans rising to 1.19% of total loans. Return metrics weakened, with return on average tangible assets at 0.72% and return on average equity dropping to 9.6%.
Citizens Financial Group, Inc. reported Q3 earnings in line with expectations, with shares flat after a 60% gain over the past year. Net interest income and margin declined due to fixed-rate swaps and rising deposit costs, but the private bank showed strong growth. Credit quality is a concern with reduced reserves and increased non-accrual loans, though capital levels remain healthy with a 3.9% dividend yield.
A rise in fee income and a decline in expenses support CFG's Q3 2024 earnings. However, lower NII and a decline in loan & deposit balances remain concerns.