Citizens Financial: 'Top 6 Program' To Partially Offset Pressure From Tough Rates Environment [Seeking Alpha]
Citizens Financial Group, Inc. (CFG)
Last citizens financial group, inc. earnings: 4/17 06:37 am
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US:NYSE Investor Relations:
investor.citizensbank.com/about-us/investor-relations.aspx
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Source: Seeking Alpha
SummaryEarnings will likely plunge this year due to the sharp decline in interest rates and rise in provisions expenses amid the COVID-19 pandemic.Benefits from the Top 6 program and continued loan growth will likely provide some relief for the bottom line.The December 2020 target price suggests a high upside from the current market price.Uncertainties regarding the duration and impact of the COVID-19 pandemic have increased the risks to earnings and valuation.Earnings of Citizens Financial Group (CFGAsset Sensitivity to Undermine Efforts to Grow LoansThe 150bps Federal Funds rate cuts will most probably squeeze CFG’s rate-sensitive net interest margin, NIM, this year. Non-interest bearing deposits make up around 23% of CFG’s total deposits, which is one of the reasons why the company’s costs are stickier than yields. However, as mentioned in thefourth-quarter conference callContinued loan growth will likely offset the pressure from NIM compression on net interest income. As mentioned
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News
- Citizens Financial Group Announces Prime Rate ChangeBusiness Wire
- Citizens Financial Group, Inc. (NYSE: CFG) was upgraded by analysts at Raymond James from a "market perform" rating to a "strong-buy" rating. They now have a $55.00 price target on the stock.MarketBeat
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CFG
Earnings
- 10/16/24 - Miss
CFG
Sec Filings
- 12/10/24 - Form 8-K
- 12/2/24 - Form 4
- 11/15/24 - Form 4
- CFG's page on the SEC website