Overview

* Citizens Financial Q3 net income at $494 mln, EPS at $1.05

* Company reports 9% sequential PPNR growth and 3% positive operating leverage

* Citizens increases quarterly dividend by 9.5% to $0.46 per share

Result Drivers

* NII AND FEE GROWTH - Strong net interest income and fee growth contributed to Q3 results, per CEO Bruce Van Saun

* PRIVATE BANK PERFORMANCE - Solid loan and deposit growth driven by strong performance from the Private Bank

* CAPITAL MARKETS REVENUE - Increased market activity led to highest Capital Markets revenues since Q4 2021

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $1.05

Adjusted

EPS

Q3 EPS $1.05

Q3 Net $494 mln

Income

Q3 $154 mln

Credit

Loss

Provisio

n

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Citizens Financial Group Inc ( CFG/PI ) is $60.00, about 13.7% above its October 14 closing price of $51.80

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)