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PROVIDENCE - Citizens Bank, N.A. will reduce its prime lending rate to 7.25 percent from 7.50 percent, effective Thursday, September 18, 2025, according to a statement from parent company Citizens Financial Group, Inc. (NYSE:CFG). The bank’s stock, currently trading near $52.31, has shown strong momentum with a 20% gain year-to-date.
The 25 basis point decrease marks an adjustment to the benchmark rate that affects various consumer and commercial lending products, including credit cards, home equity lines of credit, and certain business loans.
Citizens Financial Group is headquartered in Providence, Rhode Island, and operates approximately 1,000 branches across 14 states and the District of Columbia. The bank maintains around 3,000 ATMs throughout its service area.
With $218.3 billion in assets as of June 30, 2025, Citizens ranks among the largest financial institutions in the United States. The company provides banking services to individual consumers, small businesses, middle-market companies, and large corporations.
The announcement was made in a press release issued by Citizens Financial Group.
In other recent news, Citizens Financial Group has announced a significant $20 million investment in workforce development programs from 2026 to 2028. This initiative is an extension of the bank’s ongoing $10 million commitment for 2024 and 2025, aimed at supporting nonprofits that enhance educational and career opportunities. Additionally, Citizens Financial Group has appointed Aunoy Banerjee as the new Executive Vice President and Chief Financial Officer, effective October 24. Banerjee, currently the CFO of Barclays Bank PLC, will join the company’s Executive Committee.
Analysts have also been active in revising their outlooks on Citizens Financial Group. Truist Securities raised its price target to $52, maintaining a Hold rating, citing the bank’s second-quarter earnings beat and positive third-quarter guidance. Citi increased its price target to $60, keeping a Buy rating, while DA Davidson set a new target of $55, also maintaining a Buy rating. Both Citi and DA Davidson noted strong second-quarter results and optimistic third-quarter updates as reasons for their revised targets. These developments highlight the bank’s recent performance and strategic initiatives.
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