Citizens Financial Group (CFG) posted strong quarterly results, with net income for Q3 2024 and Q4 2024 reported at $382 million and $401 million, respectively. However, EPS in Q3 fell short of expectations, despite a strong showing in Q4. CFG expects its fast-growing private banking division to become profitable in the current year, despite facing heightened competition for deposits. Furthermore, the firm is expanding its footprint in California, with the recent hiring of a Middle Market Regional Executive and the addition of two new private banking offices, reflecting CFG's commitment to building its growing presence in the state. Despite some stock underperformance, CFG's financial robustness and strategic expansion have attracted substantial investments from various entities like Swedbank AB, Kingswood Wealth Advisors, Patton Fund Management, among others. Wall Street maintains a positive outlook toward CFG's stocks, with multiple firms raising their price target. Some key leadership changes also signal CFG's focus on strengthening consumer banking services.
Citizens Financial Group CFG News Analytics from Mon, 15 Apr 2024 07:00:00 GMT to Fri, 14 Feb 2025 23:37:22 GMT -
Rating 7
- Innovation 6
- Information 9
- Rumor 5
