Citizens Financial Group, Inc. (NYSE:CFG ) Earnings Conference Call July 17, 2024 9:00 AM ET Company Participants Kristin Silberberg - Executive Vice President, Investor Relations Bruce Van Saun - Chairman and Chief Executive Officer John Woods - Chief Financial Officer Brendan Coughlin - Head of Consumer Banking Don McCree - Head of Commercial Banking Conference Call Participants Peter Winter - D.A. Davidson Erika Najarian - UBS Scott Siefers - Piper Sandler Ken Usdin - Jefferies Manan Gosalia - Morgan Stanley John Pancari - Evercore Gerard Cassidy - RBC Matt O'Connor - Deutsche Bank Operator Good morning, everyone, and welcome to the Citizens Financial Group Second Quarter Earnings Conference Call.

Citizens Financial Group, Inc. reported mixed Q2 earnings, with declines in deposits and loans, but slightly higher revenue and net income. Despite a focus on quality over quantity, asset quality metrics are deteriorating, with net interest margin and net loan charge-offs on the rise. Return metrics improved, with a better efficiency ratio and higher return on average assets and equity, but the inflection in performance remains uncertain.

Citizens Financial's (CFG) Q2 earnings benefit from an increase in non-interest income and reduced expenses. However, challenges emerge with lower NII and a rise in provisions.

Bruce Van Saun, Citizens Financial Group CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, what's driving the company's net interest income data, and where the economy is in the credit cycle.

Upbeat sentiment toward bank stocks continued Wednesday as U.S. Bancorp and Citizens Financial Group Inc. both rose on mostly positive quarterly results.

U.S. lenders' second-quarter profits were squeezed by dampening loan demand and the high interest they paid to hold on to deposits, but a flurry of bond sales boosted their investment banking units.

The headline numbers for Citizens Financial Group (CFG) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Citizens Financial Group (CFG) came out with quarterly earnings of $0.78 per share, missing the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.92 per share a year ago.

Citizens Financial beat expectations for second-quarter profit on Wednesday, as strong capital markets softened the hit from weaker lending.

Barron's seventh annual (2024) ranking of sustainable companies started with the 1,000 largest publicly traded companies by market value, then ranked each by performance for five key constituencies: shareholders, employees, customers, community, and planet. Home-products company Clorox sits at the top for the second straight year, edging out Kimberly-Clark, CBRE Group, Hasbro, and Agilent Technologies in the top five. Per 7/11/24 data from YCharts, the top 10 of 77 dividend-paying sustainable companies ranged 4.37%-12.73% by annual yield and ranged 26.93%-111.85% by broker-estimated target price upsides.

Get a deeper insight into the potential performance of Citizens Financial Group (CFG) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

The Savings and Loan industry is facing challenges from high interest rates. At the same time, decent loan demand and a stable deposit base will help industry players like Citizens Financial (CFG), WSFS Financial (WSFS) and HomeStreet (HMST) to navigate headwinds.