The 2024 Fed’s stress test determined Citizens Financial Group, Inc.’s (CFG) preliminary Stress Capital Buffer (SCB) at 4.5%. This implied a regulatory minimum CET1 ratio of 9%, up from 8.5% in 2023. According to the Federal Reserve's stress test results released on Jun 26, 2024, CFG is among the 31 U.S. banks that successfully passed the test.While the regulatory requirement will be effective Oct 1, 2024, CFG expects the second-quarter 2023 CET1 ratio to be 160 basis points above the SCB. This underlines t ...

The Federal Reserve is slated to announce its annual bank health check results on Jun 26. Also known as the ‘stress test,’ the results will show how much capital large banks need to withstand any renewed turmoil in the sector.This annual exercise will also dictate how much banks will return to shareholders through dividend payouts and share repurchases. Last year, some notable ones announcing a hike in quarterly dividends were JPMorgan (JPM) , Goldman Sachs (GS) , Wells Fargo and Morgan Stanley (MS) . Also, ...

This year has been tough on regional bank stocks, with borrowing costs soaring and cutting into net interest income. Additionally, higher yields diminished older bonds’ value and heightened internal credit risks — just ask the (now defunct) Silicon Valley Bank. These factors and others contribute to a string of poor regional bank performance indicators that, practically speaking, trickle upward across the entire banking and financial sector. The SPDR S&P Bank ETF (NYSEARCA:KBE) is down 3% this year, with fe ...

Citizens Financial Group, Inc. (CFG) unveiled a few developments aimed at accelerating growth of its Wealth Management business to attract new high-net-worth clients. The company’s CEO, Bruce Van Saun, stated that management wants to have more choices for customers in terms of wealth options.CFG’s long-term strategy involves growth in wealth management offerings, improvement of capabilities in the high-net-worth segment and expansion into key markets.In October 2023, the company launched the Citizens Privat ...

PM Images CDX3Investor.com New offering summaries: M&T Bank Corporation (MTB) priced an offering of $750 million worth of new series J non-cumulative preferred stock, offering a fixed dividend rate of 7.5%. The new shares were rated by all four of Moody’s, S&P, Fitch, and DBRS, at Baa3, BB+, BBB- and BBB, respectively. The new shares traded temporarily on the OTC under symbol MTDJV before moving to permanent symbol MTB-J on the New York Stock Exchange. Citizens Financial Group (CFG) priced an offering ...

JHVEPhoto Citizens Financial Group (NYSE:CFG) is a regional bank that has joined its industry peers in struggling to maintain earnings and deposits in an environment of high-interest rates. Back in November, I wrote on the opportunity being presented with the bank’s Series D preferred shares (CFG PR D). These shares will begin floating at a rate of three-month SOFR plus 390 basis points with their next dividend declaration. Based on today’s market pricing, the dividend yield would be just under 8.5%. Fo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From (Not Applicable) Commission File Number 001-36636 (Exact name of the registrant as specified in its charter) Delaware 05-0412693 (State or Other Jurisdiction of (I.R.S. Emp ...

JHVEPhoto Citizens Financial Group, Inc. (NYSE:CFG), incorporated in 1984 and headquartered in Providence, Rhode Island, is a bank holding company that through its subsidiaries offers banking products and services to individuals and businesses in 14 states. This business has been profitable for a long time and has also been steadily growing over the years. Given its capital position and the attractive but safe dividend yield, I believe that one can practically get paid to wait until the market better ap ...

Citizens Financial Group (CFG) has reported first-quarter 2024 earnings per share (EPS) of 65 cents, missing the Zacks Consensus Estimate of 75 cents. 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 losse ...

业绩总结 - 公司1Q24净利息收入为14.42亿美元，环比下降3%，同比下降12%[7] - 公司1Q24净利息收入占总收入的73.6%[7] - 公司1Q24净利息收入为14.62亿美元，其中Legacy Core贡献14.62亿美元，Private Bank Core贡献16.8万美元[9] - 公司1Q24核心每股收益为0.79美元，ROTCR为10.6%[10] 贷款情况 - 公司贷款余额环比下降2%，主要反映了非核心组合的清理[14] - 公司在1Q24期末拥有1760亿美元的存款，其中49%来自分行存款，67%为稳定的消费者银行存款[16] - 公司非拨备贷款损失占平均贷款和租赁额的50个基点，达到1.81亿美元[17] - 公司非应计贷款占总贷款的102个基点，较上季度增长8%[17] 资本情况 - 公司在1Q24期末拥有184亿美元的普通股一级资本，风险加权资产为1701亿美元，一级资本比率为10.6%[19] - 公司的一级资本比率在同行中处于较高水平，预计在中期内将稳定在10.0-10.5%范围内[20] - 公司通过维持重要利率假设，保护NII免受不利影响，同时通过经济周期降低收益波动性[30] 业务部门表现 - 公司消费者银行部门展示了高质量的增长，主要支持于强劲的存款表现和客户增长[21] - 公司私人银行部门在1Q24期末拥有24亿美元的存款，80%的存款来自商业部门，19%来自消费者部门[22] 展望 - 公司在2024年的经济和利率假设包括：FY2024平均实际GDP约1-2%，CPI约2-3%，FY2024失业率约4%[24] - 公司预计2024年NIM将从1Q24的2.91%受益约62个基点，主要来自Non-Core和掉期，预计中期NIM展望为3.25-3.40%[29] - 公司预计到2026年年底，通过AOCI的增值产生显著资本，预计与证券和养老金相关的约11亿美元的未实现损失将在2026年年底前“消除”，为调整后的CET1比率增加约60个基点[33]