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CFG Citizens Financial

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $179.2 billion in assets as of September 30, 2020. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,000 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.

Company profile

Ticker
CFG, CFG+D, CFG+E
Exchange
CEO
Bruce Winfield van Saun
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CITIZENS FINANCIAL GROUP INC/DE
SEC CIK

CFG stock data

(
)

Investment data

Data from SEC filings
Top 50 of 314 long holdings
End of quarter 31 Mar 21
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$86.5M 217.43K 218.39K -0.4
$86.18M 236.57K 204.1K +15.9
$82.29M 316.16K 289.01K +9.4
$78.88M 1.09M 948.66K +15.4
$74.65M 611.11K 685.92K -10.9
$73.77M 312.88K 311.37K +0.5
$52.8M 133.22K 134.78K -1.2
$44.25M 583.28K 580.87K +0.4
$40.18M 624.22K 573.83K +8.8
SPDR S&P Midcap 400 Etf TR
$38.3M 80.45K 80.17K +0.4
$35.86M 162.33K 161.82K +0.3
$30.39M 9.82K 10.8K -9.1
$29.38M 14.24K 14.38K -0.9
$26.53M 90.07K 89.81K +0.3
$25.11M 164.95K 164.31K +0.4
$23.83M 52.22K 52.55K -0.6
$23.76M 258.62K 189.95K +36.2
$22.93M 174.45K 130.93K +33.2
$21.75M 163.63K 164.85K -0.7
$21.15M 99.88K 99.56K +0.3
$19.52M 258.19K 256.26K +0.8
$19.22M 101.68K 101.65K 0
$19.14M 9.25K 9.14K +1.2
$17.91M 134.07K 135.44K -1.0
$17.68M 57.93K 57.88K +0.1
$17.08M 78.7K 78.64K +0.1
$16.2M 43.53K 43.3K +0.5
$16.04M 66.07K 66.1K -0.0
$15.93M 411.65K 413.27K -0.4
$15.91M 211.46K 212.64K -0.6
$15.5M 220.85K 223.33K -1.1
$14.9M 59.87K 60.04K -0.3
$14.51M 249.54K 251.3K -0.7
$14.42M 221.49K 222.24K -0.3
$14.39M 30.27K 30.39K -0.4
$14.38M 1.17M 853.41K +37.6
$14.21M 100.42K 101.53K -1.1
$13.78M 53.2K 2.68K +1882.8
$13.6M 25.47K 25.25K +0.8
$13.59M 82.66K 75.55K +9.4
$13.44M 67.86K 68.11K -0.4
$12.94M 46.85K 46.65K +0.4
$12.63M 141.71K 143.23K -1.1
$12.4M 72.96K 73.22K -0.4
$11.96M 64.03K 63.83K +0.3
$11.73M 567.4K 425.81K +33.3
$11.49M 222.1K 218.32K +1.7
$11.48M 120.05K 120.98K -0.8
$11.34M 55.95K 56.3K -0.6
$11.26M 124.83K 15.02K +731.1
Holdings list only includes long positions. Only includes long positions.

Calendar

5 May 21
30 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 14.66B 14.66B 14.66B 14.66B 14.66B 14.66B
Cash burn (monthly) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) 230M (positive/no burn)
Cash used (since last report) n/a n/a n/a n/a 919.68M n/a
Cash remaining n/a n/a n/a n/a 13.74B n/a
Runway (months of cash) n/a n/a n/a n/a 59.7 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 May 21 Higdon Leo I JR Common Stock Grant Aquire A No No 0 139.22 0 33,340.321
13 May 21 Marita Zuraitis Common Stock Grant Aquire A No No 0 139.22 0 32,297.321
13 May 21 Shivan S. Subramaniam Common Stock Grant Aquire A No No 0 139.22 0 58,297.321
13 May 21 Lee Alexander Common Stock Grant Aquire A No No 0 29.811 0 3,811.943
13 May 21 Christopher Swift Common Stock Grant Aquire A No No 0 29.811 0 3,811.943

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

91.5% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 669 606 +10.4%
Opened positions 119 115 +3.5%
Closed positions 56 55 +1.8%
Increased positions 232 200 +16.0%
Reduced positions 233 226 +3.1%
13F shares
Current Prev Q Change
Total value 17.19B 14.17B +21.4%
Total shares 389.73M 396.02M -1.6%
Total puts 1.26M 910.1K +38.0%
Total calls 2.51M 1.6M +57.2%
Total put/call ratio 0.5 0.6 -12.2%
Largest owners
Shares Value Change
Vanguard 48.68M $2.15B -0.5%
BLK Blackrock 39.35M $1.74B -2.8%
STT State Street 24.16M $1.07B +2.6%
Capital International Investors 20.22M $893.05M -38.1%
IVZ Invesco 19.89M $878.11M -7.4%
JPM JPMorgan Chase & Co. 13.62M $601.52M -3.0%
MS Morgan Stanley 12.39M $547.21M +32.5%
TROW T. Rowe Price 11.06M $488.28M +1424.7%
Hotchkis & Wiley Capital Management 9.48M $418.63M -36.1%
LSV Asset Management 8.33M $367.65M -6.9%
Largest transactions
Shares Bought/sold Change
Capital International Investors 20.22M -12.44M -38.1%
TROW T. Rowe Price 11.06M +10.33M +1424.7%
Hotchkis & Wiley Capital Management 9.48M -5.35M -36.1%
Norges Bank 0 -4.65M EXIT
Amundi Pioneer Asset Management 5.45M +4.26M +358.3%
MS Morgan Stanley 12.39M +3.04M +32.5%
RY Royal Bank Of Canada 4.57M +2.39M +109.4%
Lazard Asset Management 623.1K -2.32M -78.8%
Arrowstreet Capital, Limited Partnership 0 -2.32M EXIT
Wellington Management 413.7K -1.7M -80.4%

Financial report summary

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Competition
HV Bancorp
Risks
  • The COVID-19 pandemic and associated lockdowns have adversely affected us, and may continue to adversely affect, and created, and may exacerbate or create new, significant risks and uncertainties for our business, and the ultimate impact of the pandemic on us will depend on future developments, which are highly uncertain and cannot be predicted.
  • We may not be able to successfully execute our business strategy.
  • Supervisory requirements and expectations on us as a financial holding company and a bank holding company and any regulator-imposed limits on our activities could adversely affect our ability to implement our strategic plan, expand our business, continue to improve our financial performance and make capital distributions to our stockholders.
  • Changes in interest rates may have an adverse effect on our profitability.
  • Changes in the method pursuant to which the LIBOR and other benchmark rates are calculated and their planned discontinuance could adversely impact our business operations and financial results.
  • We could fail to attract, retain or motivate highly skilled and qualified personnel, including our senior management, other key employees or members of our Board, which could impair our ability to successfully execute our strategic plan and otherwise adversely affect our business.
  • Our ability to meet our obligations, and the cost of funds to do so, depend on our ability to access identified sources of liquidity at a reasonable cost.
  • A reduction in our credit ratings, which are based on a number of factors, could have a material adverse effect on our business, financial condition and results of operations.
  • Our financial performance may be adversely affected by deterioration in borrower credit quality, particularly in the New England, Mid-Atlantic and Midwest regions, where our operations are concentrated.
  • Our framework for managing risks may not be effective in mitigating risk and loss.
  • Changes in our accounting policies or in accounting standards could materially affect how we report our financial results and condition.
  • Our financial and accounting estimates and risk management framework rely on analytical forecasting and models.
  • The preparation of our financial statements requires the use of estimates that may vary from actual results. Particularly, various factors may cause our Allowance for Credit Losses to increase.
  • Operational risks are inherent in our businesses.
  • The financial services industry, including the banking sector, is undergoing rapid technological change as a result of changes in customer behavior, competition and changes in the legal and regulatory framework, and we may not be able to compete effectively as a result of these changes.
  • We are subject to a variety of cybersecurity risks that, if realized, could adversely affect how we conduct our business.
  • We rely heavily on communications and information systems to conduct our business.
  • We rely on third parties for the performance of a significant portion of our information technology.
  • We are exposed to reputational risk and the risk of damage to our brands and the brands of our affiliates.
  • We may be adversely affected by unpredictable catastrophic events or terrorist attacks and our business continuity and disaster recovery plans may not adequately protect us from serious disaster.
  • Any deterioration in national economic conditions could have a material adverse effect on our business, financial condition and results of operations.
  • We operate in an industry that is highly competitive, which could result in losing business or margin declines and have a material adverse effect on our business, financial condition and results of operations.
  • The conditions of other financial institutions or of the financial services industry could adversely affect our operations and financial conditions.
  • As a financial holding company and a bank holding company, we are subject to comprehensive regulation that could have a material adverse effect on our business and results of operations.
  • We may be unable to disclose some restrictions or limitations on our operations imposed by our regulators.
  • The regulatory environment in which we operate continues to be subject to significant and evolving regulatory requirements that could have a material adverse effect on our business and earnings.
  • We are subject to capital adequacy and liquidity standards, and if we fail to meet these standards our financial condition and operations would be adversely affected.
  • The Parent Company could be required to act as a “source of strength” to CBNA, which would have a material adverse effect on our business, financial condition and results of operations.
  • The Parent Company depends on CBNA for substantially all of its revenue, and restrictions on dividends and other distributions by CBNA could affect its liquidity and ability to fulfill our obligations.
  • From time-to-time, we may become or are subject to regulatory actions that may have a material impact on our business.
  • We are and may be subject to litigation that may have a material impact on our business.
  • Compliance with anti-money laundering and anti-terrorism financing rules involves significant cost and effort.
  • Our stock price may be volatile, and you could lose all or part of your investment as a result.
  • We may not repurchase shares or pay cash dividends on our common stock.
  • “Anti-takeover” provisions and the regulations to which we are subject may make it more difficult for a third party to acquire control of us, even if the change in control would be beneficial to stockholders.
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Citizens Financial Group, Inc. | 5
  • This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements regarding potential future share repurchases and future dividends as well as the potential effects of the COVID-19 pandemic and associated lockdowns on our business, operations, financial performance and prospects, are forward-looking statements. Also, any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “goals,” “targets,” “initiatives,” “potentially,” “probably,” “projects,” “outlook,” “guidance” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.”
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: alleging, ALM, amended, ARRC, bilaterally, case, central, cessation, cleared, clearing, coordinated, coupled, court, exigent, exiting, fatality, FCA, grew, ICE, illustrate, incident, input, insignificant, installment, Intercontinental, lawsuit, LIBOR, milestone, move, novated, numerator, operationally, orderly, OTC, overdraft, paydown, pertaining, published, quoted, resume, robust, rollout, SOFR, steepening, stemming, stop, stronger, urging
Removed: acquired, advantaged, analyzed, anticipated, benchmarking, calibrated, cancelable, card, challenging, collected, commonly, comparing, concession, conclusion, conservation, corroborate, decreasing, depository, depth, deteriorated, developed, DFAST, difficulty, disaggregation, dislocation, EAD, eliminating, enacted, enhance, enhanced, establishment, evaluating, examination, exceeded, exist, experiencing, extended, facility, fall, finalized, franchise, frequently, gain, geographic, greater, grown, hardship, hierarchy, hold, implemented, inclusive, inconsistent, inflation, insufficient, integration, intervention, intraperiod, LGD, liquidating, location, longer, marketplace, merit, migration, mitigate, nominal, occurred, operation, optional, organically, pace, PD, performing, permitted, premium, principle, prospectively, realize, reassessed, recession, recognition, recoverable, remote, replacing, restructured, retention, Retrospective, retrospectively, reversal, scale, sector, segregated, shock, shortfall, significance, size, sooner, stating, sudden, supervise, suspend, team, terminal, trade, transact, ultimate, uncollected, utilization, vigor, warrant, weakening, worse, written