Citizens Financial Group Inc

CFG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$11.38	Bnpww	Xcsjtgt

Citizens Financial Earnings: Short-Term Earnings Seeing Pressure, but in Bigger Picture, Citizens Is OK

Eric Compton ,

Jul 19, 2023

No-moat Citizens Financial Group reported second-quarter earnings per share of $0.92, missing FactSet consensus of $1.00 and falling more in line with our own estimate of $0.93. From a short-run perspective, we believe Citizens did not have the strongest quarter, as declining loan balances and increasing funding pressures led to a decline in the net interest income, or NII, outlook for the year. This has been a common pattern among the regional banks this quarter. A weaker capital markets environment also led to a decline in the annual fee outlook.

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