earnings
confidence high
sentiment positive
materiality 0.80
Citizens Financial Q2 EPS $1.30, revenue $2.28B; launches Series J preferred offering
CITIZENS FINANCIAL GROUP INC/RI
- EPS $1.30 (up 41% YoY); ROTCE 13.9% vs 11.0% YoY.
- PPNR $889M (+24% YoY); NII $1.63B (+14% YoY); NIM 3.17% (+22 bps YoY).
- Loans +3% spot QoQ; deposits +1% spot; NCOs 37 bps, down 2 bps QoQ.
- Proposed Series J preferred offering; proceeds to redeem Series G (4.000% fixed-rate reset) preferred stock.
- Common dividend $0.46/share payable Aug 13; $225M share repurchases in Q2.