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Citizens Financial (CFG)

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
Subsidiaries
1215 Financial Center Associates, Ltd. • CFG Service Corp. • Citizens Asset Finance, Inc. • Citizens Capital Markets, Inc. • Citizens Funding Corp. • Citizens Insurance Holdings, Inc. • Citizens One Community Development Corporation • Citizens One NMTC CDE Corp. • Citizens One NMTC CDE, LLC • Citizens RI Investment Corp. ...

CFG stock data

Investment data

Data from SEC filings
Top 50 of 420 long holdings
End of quarter 30 Jun 22
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$135.63M 389.82K 381.37K +2.2
$132.44M 349.3K 390.02K -10.4
$121.94M 2.07M 2.21M -6.3
$107.57M 475.51K 491.64K -3.3
$81.29M 594.59K 602.23K -1.3
$79.69M 310.28K 315.33K -1.6
$70.64M 535.66K 575.99K -7.0
$68.09M 402.03K 394.51K +1.9
$62.17M 1.27M 1.24M +1.9
$60.58M 965.23K 948.49K +1.8
$48.49M 532.21K 526.33K +1.1
$48.3M 128.03K 137.41K -6.8
$44.62M 714.08K 745.73K -4.2
$32.02M 181.82K 175.43K +3.6
$31.66M 14.53K 14.6K -0.5
SPDR S&P Midcap 400 Etf TR
$28.39M 68.65K 73.73K -6.9
Vanguard Intl Equity Index F
$26.91M 538.63K 196.7K +173.8
$25.56M 298.51K 95.26K +213.3
$22.87M 215.29K 11.2K +1822.0
$22.11M 314.84K 315.31K -0.1
$22.05M 42.92K 44.08K -2.6
$21.19M 672.78K 664.88K +1.2
$20.56M 104.44K 104.73K -0.3
$20.09M 61.97K 63.41K -2.3
$19.88M 256.62K 259.81K -1.2
$19.62M 214.89K 157.49K +36.4
$19.31M 35.54K 36.18K -1.8
$19.12M 8.74K 9K -2.9
$18.79M 375.21K 162.77K +130.5
$17.29M 103.74K 98.15K +5.7
$17.25M 113.79K 113.36K +0.4
$16.93M 150.36K 156.56K -4.0
$15.39M 100.14K 102.09K -1.9
$15.28M 94.79K 96.65K -1.9
$14.92M 40.76K 40.87K -0.3
$14.74M 83.06K 87.47K -5.0
$13.79M 99.51K 100.84K -1.3
$13.2M 48.13K 47.1K +2.2
$13.17M 61.73K 62.7K -1.5
$13M 206.29K 208.96K -1.3
$12.82M 45.48K 47.89K -5.0
$12.56M 45.24K 45.99K -1.6
$12.46M 121.82K 123.96K -1.7
$12.26M 203.08K 233.58K -13.1
$11.88M 128.18K 130.39K -1.7
$11.74M 129.04K 132.63K -2.7
$11.72M 54.47K 54.66K -0.3
$11.67M 290.96K 310.07K -6.2
$10.64M 363.56K 368.82K -1.4
$10.63M 26 26 0
Holdings list only includes long positions. Only includes long positions.

Calendar

3 Aug 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 6.51B 6.51B 6.51B 6.51B 6.51B 6.51B
Cash burn (monthly) 1.14B 510.58M (no burn) (no burn) 625.33M (no burn)
Cash used (since last report) 1.92B 860.1M n/a n/a 1.05B n/a
Cash remaining 4.59B 5.65B n/a n/a 5.46B n/a
Runway (months of cash) 4.0 11.1 n/a n/a 8.7 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Aug 22 Cumming Christine M Common Stock Grant Acquire A No No 0 228.295 0 31,385.704
16 Aug 22 Lee Alexander Common Stock Grant Acquire A No No 0 76.73 0 7,400.778
16 Aug 22 Kelly Edward J Iii Common Stock Grant Acquire A No No 0 196.204 0 18,924.397
16 Aug 22 Hankowsky William P Common Stock Grant Acquire A No No 0 228.295 0 59,596.704
16 Aug 22 Cummings Kevin Common Stock Grant Acquire A No No 0 37.369 0 455,751.322
13F holders Current Prev Q Change
Total holders 724 746 -2.9%
Opened positions 95 96 -1.0%
Closed positions 117 81 +44.4%
Increased positions 331 285 +16.1%
Reduced positions 208 250 -16.8%
13F shares Current Prev Q Change
Total value 15.58B 18.13B -14.1%
Total shares 426.49M 400.47M +6.5%
Total puts 1.39M 3.26M -57.3%
Total calls 1.37M 2.68M -49.0%
Total put/call ratio 1.0 1.2 -16.4%
Largest owners Shares Value Change
Vanguard 57.27M $2.04B +17.3%
BLK Blackrock 46.64M $1.66B +14.2%
Capital International Investors 31.64M $1.13B +12.1%
STT State Street 24.84M $886.65M +4.6%
IVZ Invesco 17.69M $631.3M +3.3%
Capital World Investors 17.11M $610.49M -10.0%
MS Morgan Stanley 14.81M $528.64M +13.7%
JPM JPMorgan Chase & Co. 13.07M $466.41M +4.2%
Charles Schwab Investment Management 11.7M $417.59M +4.5%
Amundi 10.17M $355.4M +18.1%
Largest transactions Shares Bought/sold Change
Vanguard 57.27M +8.43M +17.3%
BLK Blackrock 46.64M +5.82M +14.2%
Fuller & Thaler Asset Management 4.18M +4.18M NEW
LGEN Legal & General 0 -3.69M EXIT
Parametric Portfolio Associates 0 -3.42M EXIT
Capital International Investors 31.64M +3.41M +12.1%
Marshall Wace 3.02M -2.93M -49.2%
PRU Prudential Financial 2.85M +2.33M +444.3%
Citadel Advisors 2.28M +2.27M +13096.6%
Capital World Investors 17.11M -1.9M -10.0%

Financial report summary

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Competition
HV Bancorp
Risks
  • The COVID-19 pandemic has adversely affected and may continue to adversely affect us, 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 predominately 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.
  • Failure to complete our proposed acquisition of Investors could negatively impact our business, financial results, and stock price.
  • Our ability to complete the proposed acquisition of Investors is subject to the receipt of approval from various regulatory agencies.
  • We face risks and uncertainties related to our proposed acquisition of Investors and recently closed HSBC branch acquisition.
  • The definitive agreement between the Company and Investors may be terminated in accordance with its terms.
  • Shareholder litigation could prevent or delay the closing of the proposed acquisition of Investors or otherwise negatively impact our business and operations.
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • Citizens Financial Group, Inc. | 6
  • 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 disruption and Russia’s invasion of Ukraine 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: accretable, accreting, accretion, aggressively, arrive, bid, bond, broker, buyer, carryover, cent, consecutive, conversion, cushion, depreciation, description, DH, drop, embedded, exact, expertise, forfeiture, grown, highlighted, identical, internet, land, lattice, marketplace, mild, month, negotiated, nondeductible, nonredeemable, notified, Ownership, PCD, perspective, prescribed, Pronouncement, push, recession, replaced, slight, space, team, unvested, vesting, withholding
Removed: authorized, case, close, demand, develop, digital, fourth, platform, receive, redemption