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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 292 long holdings
End of quarter 31 Dec 20
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$91.02M 685.92K 695.93K -1.4
$81.98M 218.39K 218.62K -0.1
$70.15M 204.1K 199.16K +2.5
$69.25M 311.37K 311.33K 0
$66.42M 289.01K 285.71K +1.2
$65.54M 948.66K 936.62K +1.3
$50.39M 134.78K 137.55K -2.0
$42.38M 580.87K 585.3K -0.8
$35.6M 573.83K 563.18K +1.9
$35.18M 10.8K 11.04K -2.1
SPDR S&P Midcap 400 Etf TR
$33.66M 80.17K 80.69K -0.6
$31.73M 161.82K 159.94K +1.2
$25.19M 14.38K 14.17K +1.4
$24.53M 89.81K 89.46K +0.4
$24.48M 52.55K 53.3K -1.4
$23.32M 164.85K 166.14K -0.8
$21.78M 99.56K 113.88K -12.6
$20.88M 164.31K 65.96K +149.1
$19.77M 256.26K 67.02K +282.3
$16.73M 78.64K 81.32K -3.3
$16.68M 101.65K 104.61K -2.8
$16.13M 189.95K 175.52K +8.2
$16.02M 9.14K 9.77K -6.4
$15.58M 130.93K 113.83K +15.0
$15.48M 66.1K 66.71K -0.9
$15.37M 57.88K 59.03K -1.9
$15.2M 30.39K 38.95K -22.0
$15.19M 43.3K 66.74K -35.1
$15.06M 101.53K 100.94K +0.6
$14.76M 251.3K 258.36K -2.7
$14.52M 212.64K 141.07K +50.7
$14.45M 223.33K 229.6K -2.7
$14.18M 222.24K 55.35K +301.5
$14.02M 97.29K 100.64K -3.3
$13.81M 60.04K 60.87K -1.4
$13.19M 25.25K 25.3K -0.2
$12.53M 413.27K 410.11K +0.8
$12.33M 73.22K 74.71K -2.0
$12.19M 46.65K 44.62K +4.6
$12.09M 132.47K 134.86K -1.8
$12.02M 68.11K 69.57K -2.1
$11.96M 120.98K 122.33K -1.1
$11.89M 75.55K 141.63K -46.7
$11.84M 56.3K 57.2K -1.6
$11.74M 38.45K NEW
$11.69M 135.44K 141.1K -4.0
$11.61M 32.85K 33.46K -1.8
$11.5M 30.53K 31.65K -3.5
$11.02M 162.27K 167.92K -3.4
$10.78M 63.83K 66.68K -4.3
Holdings list only includes long positions. Only includes long positions.

Calendar

5 May 21
9 May 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 292.66M n/a
Cash remaining n/a n/a n/a n/a 14.37B n/a
Runway (months of cash) n/a n/a n/a n/a 62.5 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Apr 21 Shivan S. Subramaniam Common Stock Grant Aquire A No No 0 3,010 0 58,158.101
22 Apr 21 Hankowsky William P Common Stock Grant Aquire A No No 0 3,010 0 55,323.101
22 Apr 21 Koch Charles John Common Stock Grant Aquire A No No 0 3,010 0 104,158.101
22 Apr 21 Higdon Leo I JR Common Stock Grant Aquire A No No 0 3,010 0 33,201.101
22 Apr 21 Robert G Leary Common Stock Grant Aquire A No No 0 3,010 0 9,802.13

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

93.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 605 546 +10.8%
Opened positions 114 63 +81.0%
Closed positions 55 77 -28.6%
Increased positions 200 185 +8.1%
Reduced positions 226 227 -0.4%
13F shares
Current Prev Q Change
Total value 14.17B 10.01B +41.5%
Total shares 396.08M 396.14M -0.0%
Total puts 910.1K 1.35M -32.6%
Total calls 1.6M 1.36M +17.6%
Total put/call ratio 0.6 1.0 -42.7%
Largest owners
Shares Value Change
Vanguard 48.91M $1.75B -1.2%
BLK Blackrock 40.48M $1.45B -5.3%
Capital International Investors 32.66M $1.17B +35.4%
STT State Street 23.56M $842.52M +3.1%
IVZ Invesco 21.48M $768.23M +0.3%
Hotchkis & Wiley Capital Management 14.83M $530.27M -1.0%
JPM JPMorgan Chase & Co. 14.05M $502.49M -17.7%
MS Morgan Stanley 9.36M $334.56M +16.0%
LSV Asset Management 8.94M $319.77M -4.9%
AMP Ameriprise Financial 7.92M $283.23M -28.3%
Largest transactions
Shares Bought/sold Change
Capital International Investors 32.66M +8.54M +35.4%
Norges Bank 4.65M +4.65M NEW
AMP Ameriprise Financial 7.92M -3.12M -28.3%
JPM JPMorgan Chase & Co. 14.05M -3.03M -17.7%
Arrowstreet Capital, Limited Partnership 2.32M -2.47M -51.6%
BLK Blackrock 40.48M -2.28M -5.3%
Ajo 193.08K -1.72M -89.9%
Wellington Management 2.11M -1.69M -44.4%
Adage Capital Partners GP, L.L.C. 683.36K -1.51M -68.9%
Samlyn Capital 1.34M +1.34M NEW

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