What's in the Offing for Citizens (CFG) in Q4 Earnings?

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Citizens Financial Group CFG is scheduled to report fourth-quarter and 2021 results on Jan 19, before the opening bell. While its quarterly earnings are expected to have improved year over year, revenues are anticipated to have declined.

Citizens Financial Group, Inc. price-eps-surprise, Citizens Financial Group, Inc. Quote, eased the overdraft fee policy , Earnings ESP, Earnings ESP Filter, fourth-quarter earnings, Zacks Earnings Calendar, Click to get this free report, Zacks Investment Research
– Zacks

In third-quarter 2021, this Providence, RI-based bank surpassed the Zacks Consensus Estimate on a significant fall in provisions and a marginal rise in the loan balance. Further, strong capital and credit quality were the driving factors. However, a decline in revenues on low fee income was a headwind.

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Citizens has an impressive earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in all of the trailing four quarters, the surprise being 22.6%, on average.

Citizens Financial Group, Inc. Price and EPS Surprise

Citizens Financial Group, Inc. price-eps-surprise, Citizens Financial Group, Inc. Quote, eased the overdraft fee policy , Earnings ESP, Earnings ESP Filter, fourth-quarter earnings, Zacks Earnings Calendar, Click to get this free report, Zacks Investment Research

Global Tech News Daily

Citizens Financial Group, Inc. price-eps-surprise | Citizens Financial Group, Inc. Quote

Factors at Play

Global Tech News Daily

Net Interest Income (NII): The lending scenario in the fourth quarter improved moderately as businesses reopened, corporate confidence rose and economic growth gained traction. Per the Fed’s latest data, the demand for commercial and industrial loans, commercial real estate loans, and residential real estate loans accelerated in the fourth quarter. Yet, high levels of pay downs and payoffs, and stiff loan pricing competition are likely to have hurt CFG’s loan volumes. This along with a persistently low-interest-rate environment is expected to have had some adverse impact on its NII and net interest yield in the quarter.

The Zacks Consensus Estimate of $1.13 billion for NII indicates a marginal decline from the prior quarter.

Management expects fourth-quarter NII to be broadly stable or down slightlyon a sequential basis, given the lower Paycheck Protection Program (PPP) forgiveness benefit. Fourth-quarter average loan growth of 1.5-2% is expected on a sequential basis, with spot loans rising 3%. Excluding PPP, average loan growth of 2.5-3% is anticipated, with spot loans rising 4%.

Fee Income: Continued strength in equity markets, driven by a modest spike in volatility and decent client activities, is likely to have boosted the company’s fee income. Trust and investment services fees are likely to be supported by an increase in assets under management from robust inflows and higher equity market levels.

Given the fading stimulus support, card spending is expected to have increased. Higher card use and activity are anticipated to have boosted card fees. The consensus mark for the same of $68 million indicates a rise from the prior quarter’s reported figure of $66 million.

Mortgage production continued to normalize in the fourth quarter. Also, moderation in refinancing activity due to the rise in rates is expected to have weighed on Citizens’ mortgage banking income. Thus, the consensus estimate for the same of $91 million suggests a 15.7% plunge sequentially.

In early October, Citizens eased the overdraft fee policy on checking accounts. This is expected to have offset any further rebound in overdraft fees in the fourth quarter, affecting non-interest income.

The consensus estimate for non-interest income is pegged at $534 million, suggesting a 3.9% sequential increase.

Management expects fourth-quarter fee income to be broadly stable sequentially, reflecting an improvement in capital markets, partially offset by seasonal impacts in the mortgage business.

Expenses: Despite its TOP 6 efficiency initiatives, Citizens’ expenses are expected to have flared up on investments in enhanced data analytics and technology to improve customer experience. The company projects non-interest expenses to be broadly stable in the fourth quarter.

Also, management aims TOP 6 Program to deliver $400-$425 million in pre-tax run-rate benefit by 2021 end.

Key Developments During the Quarter

In November, Citizens completed its previously announced merger agreement to acquire JMP Group. Citizens announced the all-cash deal in September in a bid to augment its capital market capabilities.

The buyout is also expected to foster growth, diversify Citizens’ capital market platform and provide greater scale in key verticals like healthcare, technology, financials and real estate.

Earnings Whispers

Citizens does not have the right combination of two key ingredients — a positive Earnings ESP and Zacks Rank #3 (Hold) or higher — for increasing the odds of an earnings beat this time around.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: Earnings ESP for Citizens is -0.49%.

Zacks Rank: The company currently carries a Zacks Rank of 3.

The Zacks Consensus Estimate for fourth-quarter earningsis pegged at $1.16, suggesting 11.5% growth from the year-ago reported number. However, the consensus mark of $1.66 billion for fourth-quarter revenues indicates a 2.5% year-over-year decline.

Stocks That Warrant a Look

BOK Financial BOKF, The PNC Financial Services Group, Inc. PNC and Huntington Bancshares Incorporated HBAN are a few companies worth considering as these have the right combination of elements to beat on earnings in their upcoming releases, per our model.

BOK Financial has an Earnings ESP of +3.64% and a Zacks Rank of 2 (Buy) at present. BOKF is slated to report fourth-quarter and full-year results on Jan 19.

Over the past 30 days, BOKF’s Zacks Consensus Estimate for quarterly earnings has moved marginally downward.

PNC Financial is scheduled to release fourth-quarter 2021 and annual earnings on Jan 18. PNC, which is Zacks #3 Ranked at present, has an Earnings ESP of +2.29%. You can see the complete list of today’s Zacks #1 Rank stocks here.

PNC’s fourth-quarter earnings estimates have moved marginally lower over the past month.

Huntington Bancshares is scheduled to release earnings on Jan 21. HBAN, currently a #3 Ranked player, has an Earnings ESP of +1.46%.

The Zacks Consensus Estimate for Huntington Bancshares’ fourth-quarter earnings has been unchanged over the past month.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How to Profit from Trillions on Spending for Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 

The PNC Financial Services Group, Inc (PNC): Free Stock Analysis Report

 

Huntington Bancshares Incorporated (HBAN): Free Stock Analysis Report

 

BOK Financial Corporation (BOKF): Free Stock Analysis Report

 

Citizens Financial Group, Inc. (CFG): Free Stock Analysis Report

 

To read this article on Zacks.com click here.

 

Zacks Investment Research

News Related

OTHER NEWS

Rel Capital resolution: Lenders hire KPMG India, L&L Partners

Lenders to Reliance Capital have appointed KPMG India as their process advisor andetL&L Partners the legal counsel to help negotiate the challenges in the resolution of Anil Ambani-promoted Reliance Capital, ... Read more »

Soaring refining margin bodes well for oil firms

The industrial complex in the southern port city of Ulsan where production bases of Korea’s major petrochemical companies are located (Yonhap)South Korean oil refiners’ key profitability measure has been rising ... Read more »

Buckle (BKE) Gains As Market Dips: What You Should Know

Buckle (BKE) closed at $37.24 in the latest trading session, marking a +1.36% move from the prior day. This change outpaced the S&P 500’s 0.37% loss on the day. – ... Read more »

AutoNation (AN) Dips More Than Broader Markets: What You Should Know

In the latest trading session, AutoNation (AN) closed at $103.57, marking a -0.46% move from the previous day. This change lagged the S&P 500’s 0.37% loss on the day. – ... Read more »

FuboTV Inc. (FUBO) Stock Moves -0.3%: What You Should Know

fuboTV Inc. (FUBO) closed at $10.07 in the latest trading session, marking a -0.3% move from the prior day. This change was narrower than the S&P 500’s 0.37% loss on ... Read more »

Fiverr International (FVRR) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Fiverr International (FVRR) closed at $81.01, marking a -0.52% move from the previous day. This change lagged the S&P 500’s daily loss of 0.37%. – ... Read more »

Sterling Construction (STRL) Gains As Market Dips: What You Should Know

Sterling Construction (STRL) closed at $27.51 in the latest trading session, marking a +1.63% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »

Boise Cascade (BCC) Gains As Market Dips: What You Should Know

Boise Cascade (BCC) closed at $77.20 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »

CRISPR Therapeutics AG (CRSP) Gains As Market Dips: What You Should Know

In the latest trading session, CRISPR Therapeutics AG (CRSP) closed at $62.36, marking a +0.76% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.37%. ... Read more »

Bausch Health (BHC) Dips More Than Broader Markets: What You Should Know

Bausch Health (BHC) closed the most recent trading day at $24.39, moving -0.53% from the previous trading session. This move lagged the S&P 500’s daily loss of 0.37%. – Zacks ... Read more »

ETF Strategies to Consider for February as Fed's Rate Hike Nears

Wall Street has been mostly kind to investors so far in February after a tough January. Market participants are upbeat about improving U.S. economic conditions as reflected by encouraging fourth-quarter ... Read more »

Bank of Nova Scotia (BNS) Gains As Market Dips: What You Should Know

Bank of Nova Scotia (BNS) closed at $73.75 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500’s daily loss of ... Read more »

Fox (FOXA) to Report Q2 Earnings: What's in the Offing?

Fox FOXA is set to report second-quarter fiscal 2022 results on Feb 9.For the quarter, the company’s current Zacks Consensus Estimate for earnings is pegged at breakeven against a loss ... Read more »

Generac Holdings (GNRC) Gains As Market Dips: What You Should Know

In the latest trading session, Generac Holdings (GNRC) closed at $279.97, marking a +0.01% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »

Spirit And Frontier Announce $6.6 Billion Merger

Spirit Airlines Incorporated (NYSE:SAVE) and Frontier Group Holdings Inc (NASDAQ:ULCC) have announced a $6.6 billion merger to create one of the largest low-cost airlines in the U.S. The new airline ... Read more »

First Trust Energy AlphaDEX Fund (FXN) Hits a 52-Week High

The First Trust Energy AlphaDEX Fund FXN is probably a suitable pick for investors looking for momentum. FXN hit a 52-week high and is up 59.6% from its 52-week low ... Read more »

Meta Threatens To Close Facebook And Instagram In Europe Over Data Scramble

In a document filed with the U.S. Securities and Exchange Commission (SEC), Meta Platforms Inc (NASDAQ:FB) has warned it could be forced to close Facebook and Instagram in Europe if ... Read more »

Stock futures inch higher after S&P, Nasdaq fall to start the week

U.S. stock index futures crept higher during overnight trading Monday, after the major averages moved between gains and losses during regular trading as the market awaits key inflation data later ... Read more »

How a To-Don't List Can Help You Achieve Your Goals

To-do lists are helpful tools for many people, but they can quickly take over our lives, making daily living feel like just another item to cross off of a never-ending ... Read more »

Immunovant (IMVT) Reports Wider-Than-Expected Loss in Q3

Immunovant, Inc. IMVT reported a net loss of 36 cents per share in the third quarter of fiscal 2022 (ended Dec 31, 2021), wider than the Zacks Consensus Estimate of ... Read more »

Buckle's (BKE) Sales Run Continues in January, Comps Gain 4.2%

The Buckle, Inc. BKE looks well poised on the back of its robust strategic efforts, including strength in e-commerce business and an impressive sales trend. BKE has been putting up ... Read more »

6 Best-Leveraged ETF Areas of Last Week

Wall Street put up a moderate show last week with the S&P 500 (up 1.6%), the Dow Jones (up 1.1%), the Nasdaq Composite (up 2.4%) and the Russell 2000 (up ... Read more »

Interpublic (IPG) to Report Q4 Earnings: What's in the Cards?

The Interpublic Group of Companies, Inc. IPG is scheduled to report fourth-quarter 2021 results on Feb 10, before the opening bell. – Zacks Let’s check out how things have shaped ... Read more »

Mednax (MD) Buys Night Lite Pediatrics to Boost Portfolio

Mednax, Inc. MD and its affiliated practices Pediatrix Medical Group recently acquired Night Lite Pediatrics, LLC in Orlando, FL. Night Lite is a private 13-clinic pediatric urgent care practice. The ... Read more »

Best Growth Stocks to Buy for February 7th

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 7th: – Zacks Apple AAPL: This company whose business primarily runs around its ... Read more »

Gol Linhas (GOL) Stock up 16.2% in a Month: More Upside Left?

Shares of Gol Linhas GOL have displayed an uptrend on the bourses over the past month, gaining 16.2% against its industry’s 3.1% decline. – Zacks Image Source: Zacks Investment Research ... Read more »

Top Research Reports for Bank of America, Coca-Cola & salesforce

Monday, February 7, 2022 The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Bank ... Read more »

Sanofi's (SNY) Enjaymo Gets FDA Nod For Rare Blood Disorder

Sanofi SNY announced that the FDA has approved its monoclonal antibody, Enjaymo (sutimlimab-jome), to decrease the need for red blood cell transfusion due to hemolysis in adult patients with cold ... Read more »

The Zacks Analyst Blog Highlights: Alphabet, T-Mobile US, Advanced Micro Devices, Mondelez International and Chubb

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

IRS to stop using facial recognition for identity verification

Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C.Bloomberg | Bloomberg | Getty Images The IRS on Monday announced it will stop using a controversial third-party service for ... Read more »

Why Mid-America Apartment Communities (MAA) is a Great Dividend Stock Right Now

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

On Core Values, Self-Honesty and Having Fun with Jairek Robbins, the New President of SUCCESS

“You gotta answer your DMs, man,” says Jairek Robbins, half laughing, in his latest Brilliant Thoughts interview with Tristan Ahumada. Robbins, who is an acclaimed business coach, best-selling author and ... Read more »

Surging Earnings Estimates Signal Upside for Xilinx (XLNX) Stock

Investors might want to bet on Xilinx (XLNX), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and ... Read more »

BCB Bancorp (BCBP) is a Top Dividend Stock Right Now: Should You Buy?

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

The Zacks Analyst Blog Highlights: AbbVie, Merck, Eli Lilly, Novartis and Pfizer

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

BankUnited (BKU) Stock up 3.4% on New Share Repurchase Plan

BankUnited, Inc. BKU has announced a new share repurchase plan. The company’s board of directors has approved the repurchase of up to $150 million in shares of BKU’s outstanding stock. ... Read more »

TEGNA Inc. (TGNA) Soars 7.4%: Is Further Upside Left in the Stock?

TEGNA Inc. TGNA shares rallied 7.4% in the last trading session to close at $21.34. This move can be attributable to notable volume with a higher number of shares being ... Read more »

Can BCB Bancorp (BCBP) Run Higher on Rising Earnings Estimates?

BCB Bancorp (BCBP) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Earnings Estimates Moving Higher for Marathon Oil (MRO): Time to Buy?

Marathon Oil (MRO) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Transport ETFs to Buy on Solid Q4 Earnings

The fourth-quarter earnings picture for the transportation sector has been robust. This is especially true as earnings of 95.2% of the market capitalization of the sector that has reported so ... Read more »