|Bid||35.69 x 4000|
|Ask||35.70 x 1400|
|Day's Range||35.06 - 35.86|
|52 Week Range||27.62 - 43.51|
|Beta (3Y Monthly)||1.67|
|PE Ratio (TTM)||9.75|
|Earnings Date||Jan 18, 2018 - Jan 22, 2018|
|Forward Dividend & Yield||1.28 (3.47%)|
|1y Target Est||41.25|
When announcing their $28 billion merger of equals in February, BB&T Corp. and SunTrust Banks said the deal was partly designed to allow the banks to become more competitive with larger rivals in technology. At more than $220 billion in assets, both are larger than $160 billion-asset Citizens Financial Group, one of the Philadelphia region’s largest banks. Citizens Financial CEO Bruce Van Saun acknowledges the challenge but believes his bank has made a significant push to keep pace with its larger competitors by partnering with more than a dozen fintech companies in recent years.
Higher expenses and provisions hurt East West Bancorp's (EWBC) first-quarter performance, despite rise in net interest income, loans and deposits.
Citizens Financial's (CFG) Q1 earnings reflect expansion in net interest margin and higher fee income, partially offset by escalating expenses and provisions.
Citizens Financial Group (CFG) delivered earnings and revenue surprises of 4.49% and 0.34%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Providence, Rhode Island-based company said it had net income of 92 cents. Earnings, adjusted for non-recurring costs, were 93 cents per share. The results exceeded Wall Street ...
Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today reported first quarter 2019 financial results. The earnings press release, investor presentation, and financial supplement are available at http://investor.citizensbank.com. “We are pleased to start 2019 with a solid first quarter result as we continue to execute well on our strategic initiatives,” said Chairman and Chief Executive Officer Bruce Van Saun.
Citizens Financial's (CFG) Q1 earnings might reflect rise in interest income and higher fee income. However, expenses are likely to increase.
Bank earnings season kicked off Friday, April 12, with first-quarter reports from JPMorgan Chase (JPM) and Wells Fargo (WFC). As more reports roll in, investors will be keen to see what a pause in interest-rate hikes and a potential slowdown in economic growth could mean for the sector going forward.After all, those and other concerns have made financial stocks a market laggard so far this year. The Standard & Poor's 500-stock index is up a hot 15% for the year through April 10. The financial sector, however, gained just 11% over the same span. The bank subsector was up a bit more than 12%.But the financial sector might be ready to pivot. Analysts surveyed by Refinitiv expect the sector to post year-over-year Q1 earnings growth of just 2.9%. That doesn't sound like much, but it's encouraging when you consider that FactSet estimates the S&P; 500's profits will contract by 4.2% for the quarter.Which bank stocks are analysts most excited about right now? We screened the Russell 1000 Index for the top-rated small, midsize and large bank stocks. S&P; Global Market Intelligence surveys analysts' ratings on stocks and scores them on a five-point scale, where 1.0 equals "Strong Buy" and 5.0 means "Strong Sell." Any score of 2.0 or lower means that analysts, on average, rate the stock a "Buy." The closer the score gets to 1.0, the better.Here are the 12 best-rated bank stocks as earnings season gets into gear. This group is broken down into the four most-loved stock picks in the small-, mid- and large-cap spaces. SEE ALSO: The 25 Best Blue-Chip Stocks to Buy Now (According to Hedge Funds)
Citizens Bank has gone outside its internal ranks to tap a very familiar face to serve as its top executive in western Pennsylvania. Mark Rendulic starts his new job as Pittsburgh retail director and market president on Monday, confirmed Daniel Fitzpatrick, president of Citizens Bank, Mid-Atlantic Region. Rendulic’s banking career includes high-ranking posts at National City Corp., where he worked for 23 years, First Niagara Financial Group and KeyCorp.
Citizens Financial Group (CFG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Survey by Junior Achievement and Citizens Bank reveals more has to be done to help prepare students for the future.
Citizens Bank today marked the start of National Financial Literacy Month with the launch of its multi-faceted financial education program, Citizens Helping Citizens Manage Money. The Citizens Helping Citizens Manage Money program is a yearly effort by the bank to teach financial literacy throughout the communities it serves. This year, the bank will provide more than $1.5 million in contributions to 84 nonprofits in Massachusetts, Rhode Island, New Hampshire, Vermont, Connecticut, Ohio, Michigan, Pennsylvania, and New York.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Post-GFC recovery has strengthened economic growth and credit quality, benefiting large banks such as Citizens Financial Grou...
Citizens Financial Group (CFG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
2019 is poised to be a hot year for IPOs, but looking back on the past decade, these are the top 10 U.S. IPOs based on valuation at the time of debut.
A new national survey by Junior Achievement USA (JA) and Citizens Bank shows that more than 30 percent of teens do not believe they will be financially independent of their parents by the age of 30. While the survey found that 74 percent of respondents believe they will own a car by the time they are 30, the numbers around other key financial milestones are much lower, with 60 percent believing they will own a home, 44 percent believing they will begin saving for retirement and 43 percent believing they will have paid off student loans. The survey of 1,000 US teens ages 13-18, who are not currently enrolled in college was conducted by Wakefield Research.
Despite all the fears over slowing global growth, inverting yield curves and a potential U.S. recession, the S&P 500 made an incredible comeback in the first quarter of 2019. The index's 13% first-quarter gain was its best quarter since 2009's second quarter. It can be difficult to track down value in a market that's so hot. However, the financial sector has consistently lagged the overall market and is actually down nearly 9% since the start of 2018, despite reporting 7.6% earnings growth last quarter. The financial sector now has the lowest forward price-earnings (P/E) multiple in the market.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks From Around the World That Beat U.S. Stocks Here are 15 financial sector stocks to buy in the second quarter, according to Bank of America. Financial Stocks to Buy: Affiliated Managers Group (AMG)Source: Shutterstock Affiliated Managers Group (NYSE:AMG) is like an exchange-traded fund of asset managers. Affiliated Managers is itself an asset manager that invests in other asset managers. The company holds stakes in traditional asset managers, including Yacktman, Third Avenue and Tweedy Browne. It also holds stakes in alternative managers, such as AQR, BlueMountain and Pantheon. Asset managers have been hit hard by a fee pricing war in recent quarters. Analyst Michael Carrier says Affiliated Manager's fourth quarter was weak, but its outlook and valuation are both attractive. He says outflows troughed in the fourth quarter. Given the company's strong organic cash flow growth and 6.7 forward earnings multiple, Carrier says AMG stock should outperform its peers. Bank of America has a "buy" rating and $124 price target for AMG stock. BB&T (BBT)Source: Via Seniorliving.orgBB&T (NYSE:BBT) is a regional U.S. bank, but it's far from a mom-and-pop business. BB&T is the sixth-largest U.S. bank by number of branches, and it will soon be much larger. Analyst Erika Najarian says BB&T has consistently improved its efficiency. In addition, she is projecting 2.6% revenue growth in 2019. Those growth projections include 3% loan growth and 2% balance sheet growth, both improvements from 2018. In February, BB&T completed a merger of equals with SunTrust (NYSE:STI) worth $28.2 billion. Najarian says Wall Street analysts don't fully appreciate the pro-forma earnings power of the combined company. * 10 Tech Stocks That Transformed Their Business Najarian is projecting $4.92 in 2020 earnings, about 4% above consensus. The companies expect the merger deal to close in the fourth quarter. In the meantime, BBT stock trades at a single-digit forward earnings multiple of just 9.5. Bank of America has a "buy" rating and $58 price target for BBT stock. The firm also has the stock on its US1 list of top American stocks to buy. Citigroup (C)Source: Shutterstock The only one of the "big four" U.S. multinational banks with a "buy" rating and at least 15% upside to Bank of America's price target is Citigroup (NYSE:C). Citigroup stock currently trades at a forward earnings multiple of just 7.1 and roughly a 20% discount to book value. Given Citi's solid execution of late, Najarian says the stock has a clear path to eliminating its valuation discount relative to peers. She says management can't control how the market perceives risk in a slowing global economy. However, if Citigroup improves its efficiency ratio in 2019, Najarian says investors will be forced to take notice of the stock's value. In addition to the "buy" rating, Bank of America has a $76 target for C stock. Citizens Financial GroupSource: Shutterstock Citizens Financial Group (NYSE:CFG) is a U.S. regional bank with more than 1,200 branches across 11 different states. Najarian says CFG stock offers the single best value of any U.S. regional bank stock. At a forward earnings multiple of just 7.6, Najarian says only Citigroup is a better value than CFG in the financial sector. In addition to the compelling value, Bank of America's 7% revenue growth estimate is best among all regional banks by a wide margin. Najarian says the market is discounting credit concerns too steeply. * 4 Top Marijuana Penny Stocks to Take Seriously in 2019 But even if CFG stock continues to trade at a discount to peers, she says CFG stock has significant upside from current levels. Bank of America has a "buy" rating and $41 price target for CFG stock. Comerica (CMA)Source: Shutterstock Comerica (NYSE:CMA) is another U.S. regional bank stock that Bank of America likes in 2019. Comerica's operations are primarily targeted in the Texas, California and Missouri markets. After meeting with company management in March, Najarian says investors don't need to be concerned about a pause in Federal Reserve interest rate hikes. Comerica's business is more sensitive to interest rates than any other regional bank Bank of America covers. Fortunately, Najarian says new client growth, attractive valuation and an impressive credit profile should help support the stock. She says balance sheet flexibility provides an opportunity to increase buybacks, drive net interest margins and grow earnings per share. Bank of America has a "buy" rating and $93 price target for CMA stock. Hartford Financial Services (HIG)Source: Shutterstock Hartford Financial Services (NYSE:HIG) is an insurance and financial services leader with diversified property and casualty insurance products. In the most recent quarter, Hartford reported a solid earnings beat and announced a $1 billion buyback program.Analyst Jay Cohen says investors can expect a solid return on equity of 13% over the next two years. He says HIG stock will likely continue to trade at a discount to peers given its large exposure to the risky workers' comp business. In addition, he says there are additional risks involved in executing Hartford's $2.1 billion acquisition of specialty insurer Navigators. * The Elite 8 Stocks to Buy for Massive Outperformance Despite the risks, Cohen says Hartford's 28% total return potential and its 9.1 forward earnings multiple makes the stock a safe bet for long-term investors. Bank of America has a "buy" rating and $59 price target for HIG stock. KeyCorp (KEY)Source: Shutterstock KeyCorp (NYSE:KEY) is a U.S. regional bank with 1,300 branches spread out over 13 different states. Najarian says investors need to see KeyBanc execute its current financial plan without additional interruptions or deviations, such at its January acquisition of online lender Laurel Road. Those types of acquisitions create noise in the company's financials. They also make it difficult for investors to get comfortable with the company's true trajectory. With a forward earnings multiple of 7.7, Najarian says KEY is one of the cheapest stocks she covers. She says the company's combination of growth potential, cost-cutting opportunities, and capital return capacity is exactly what investors are looking for. Bank of America has a "buy" rating and $19 price target for KEY stock. Lincoln National (LNC)Source: Shutterstock In 2018, life insurer Lincoln National (NYSE:LNC) reported its best annuity sales of the past five years. Cohen says the solid number is an indication that the annuity business has finally stabilized. Looking ahead, he says Lincoln's impressive execution and consistent capital return should help drive the stock higher. The stock currently trades at a forward earnings multiple of just 5.6. That steep discount to the rest of the market may be due to investor concerns over LNC's high leverage to interest rates. The Federal Reserve recently put its rate hikes on pause for at least the remainder of 2019. * 7 Stocks From Around the World That Beat U.S. Stocks However, de-risking measures taken in the fourth quarter could result in expansion of its miniscule 5.6 forward earnings multiple over time. Lincoln national has been diversifying its earnings and shifting its revenue sources to improve its revenue quality. Bank of America has a "buy" rating and $74 price target for LNC stock. MetLife (MET)Source: Shutterstock When it comes to life insurance stocks, Cohen says it's time for investors to get MetLife (NYSE:MET). MET reported a disappointing earnings miss in the fourth quarter. But Cohen says a deeper dive into the company's numbers reveals a business well-positioned for long-term growth. MetLife took advantage of share price weakness in the fourth quarter by repurchasing $1.2 billion of shares, about 50% more than Bank of America had anticipated. Cohen says accounting and control issues that plagued the company in 2017 are now in the past. In addition, the spin-off of Brighthouse and the appointment of a new CEO mark a new era for the company.Cohen says the new MetLife should eventually be awarded a higher multiple than its current forward PE of just 6.9. Bank of America has a "buy" rating and $53 price target for MET stock. Morgan Stanley (MS)Source: Shutterstock Brokers and asset managers have been under pressure due to a pricing war that has taken a major bite out of fee income. However, Carrier says Morgan Stanley (NYSE:MS) and BlackRock (NYSE:BLK) stood out as two of the best-positioned companies following earnings season. Carrier says Morgan Stanley is priced roughly in line with book value, an extremely low valuation given the company's fundamental performance. Bank of America is projecting 12% ROE in 2019. Carrier's 2019 and 2020 EPS estimates are also 5% and 7% above consensus, respectively. A forward earnings multiple of 7.7 limits downside. Additional cost cuts, rising net interest income and potential acquisitions could also help drive upside. * 7 Weak Blue-Chip Stocks to Trim Immediately Morgan Stanley announced a $900 million buyout of wealth management cloud services company Solium Capital in February. Bank of America has a "buy" rating and $51 price target for MS stock. Prudential (PRU)Source: Chris Bickham via FlickrLife insurance giant Prudential Financial (NYSE:PRU) reported a solid fourth quarter given difficult market conditions. Cohen says there is risk to Prudential's domestic business given its exposure to volatile equity markets. However, a recovering annuity market and pension de-risking demand should help support domestic earnings. In addition, despite historically low international interest rates, Cohen says investors can expect modest earnings growth and mid-teens ROEs internationally. Cohen says PRU stock will likely continue to trade at a discount to peers due to its equity market exposure. However, he says that valuation discount is currently much too large given Prudential's forward PE of just 6.6. Bank of America has a "buy" rating and $110 price target for PRU stock. Charles Schwab (SCHW)Source: Mike Mozart via Flickr (Modified)Online broker Charles Schwab (NYSE:SCHW) has taken a beating in the past year as the ETF fee war ramped up. After cutting commissions on ETF trades from $8.95 to $6.95 back in 2017, Schwab quickly followed up by matching competitors' online trading fees of just $4.95. In February, Schwab announced it was doubling its number of commission-free ETFs. Despite the fee pressures, Carrier says organic growth and client engagement have been strong. In addition, the company has a healthy balance sheet. * 7 Stocks Still Worth Buying at 52-Week Highs It's 7% market share leaves plenty of room for further penetration. Carrier says Schwab's net asset growth has been impressive given the low-interest environment. SCHW stock trades at a forward earnings multiple of 13.7 but a PEG ratio of just 0.7. Bank of America has a "buy" rating and $53 price target for SCHW stock. SBV Financial Group (SIVB)Analyst Ebrahim Poonawala recently spent three days meeting with the management team of U.S. regional bank SVB Financial Group (NYSE:SIVB). Poonawala says investors are overly concerned about how the company could weather a potential economic downturn. He says SVB would actually outperform during a downturn given the bank's below-average credit risk. In fact, Poonawala says SVB could still potentially grow EPS even in an environment of falling interest rates. SIVB stock currently trades roughly in-line with its small-cap banking peers at a forward PE of 9.7. Poonawala says the stock should be trading at roughly a 10% premium to peers given the advantages mentioned above. Bank of America has a "buy" rating and $280 price target for SIVB stock. State Street (STT)Source: Garrett A. Wollman - The Archives @ BostonRadio.org via Wikimedia (Modified)State Street (NYSE:STT) is a global trust bank with operations in more than 100 countries around the world. Carrier says net interest income growth will drop from 15.9% in 2018 to just 5.9% in 2019. However, operating expenses will decline 4.7%. In addition, Bank of America estimates customer deposits will edge slightly higher by 0.6% after restructuring dropped deposits by 13.8% in 2017 and 15.3% in 2018. Carrier says the global backdrop is mixed at best. * 3 Tech Stocks Getting Ready to Make a Run for It But he likes State Street's improved efficiency, generous capital returns and a compelling forward earnings multiple of 8.7. Bank of America has a "buy" rating and $80 price target for STT stock. SunTrust (STI)It will likely be several quarters until the BB&T merger is complete. Najarian says Suntrust (NYSE:STI) stock is still worth owning in the meantime. At the time the deal was announced, it was worth about $62.85 per STI share. However, since it is an all-stock deal, the higher BBT stock goes, the more valuable the buyout gets. STI investors receive 1.295 shares of BBT for each share of STI. Given Najarian's $58 price target for BBT, it's easy to see why she likes STI stock currently trading at under $58. Bank of America has a "buy" rating and $74 price target for STI stock. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Transformed Their Business * 8 Genomic Testing Stocks That Can Ease the Sting of Theranos * 7 Weak Blue-Chip Stocks to Trim Immediately Compare Brokers The post 15 Stocks to Buy Leading the Financial Charge appeared first on InvestorPlace.
The Insider Monkey team has completed processing the quarterly 13F filings for the December quarter submitted by the hedge funds and other money managers included in our extensive database. Most hedge fund investors endured a torrid quarter, which certainly propelled them to adjust their equity holdings so as to maintain the desired risk profile. As […]
Almost two months after market president announced plans to depart, Citizens is looking for a successor to lead its civic engagement here.
The Zacks Analyst Blog Highlights: Bank of America, Citigroup, Wells Fargo, Regional Financial and Citizens Financial
Bank stocks perform dismally as a number of issues including an inverted yield curve on increasing fears of economic slowdown and the Federal Reserve's dovish monetary policy shake the markets.