Citizens to invest $20 million in workforce development over next three years

PROVIDENCE, R.I. - Citizens Financial Group, a $21.8 billion market cap financial institution whose stock has gained over 20% year-to-date, announced Tuesday a new $20 million commitment to support workforce development programs from 2026 to 2028. The investment follows the bank’s current $10 million initiative spanning 2024 and 2025.

The funding will target nonprofits focused on enhancing educational and career opportunities across the bank’s operational footprint, according to a press release statement from the company. The initiative demonstrates Citizens’ commitment to community investment, which has helped support its consistent dividend payments for 12 consecutive years, currently yielding 3.27%.

"With this new $20 million investment, we will build on the strong progress we’ve made in expanding access to training and career pathways," said Bruce Van Saun, Chairman & CEO of Citizens.

The bank cited the 2025 Junior Achievement Teen Workforce Survey, which found that while 94% of teens are optimistic about their future careers, 57% believe artificial intelligence has negatively impacted their career outlook. Nearly nine in ten teens reported feeling pressure to make the right career choices.

As part of its current commitment, Citizens has allocated $1.6 million to expand its Community College Accelerator program to 10 schools across several states including Massachusetts, New York, New Jersey, Pennsylvania and Rhode Island. The bank also provided a $600,000 grant to launch the Brooklyn Youth Offshore Wind Training Program.

Citizens Financial Group, headquartered in Providence, Rhode Island, reported $218.3 billion in assets as of June 30, 2025. The bank operates approximately 1,000 branches and 3,000 ATMs across 14 states and the District of Columbia.

In other recent news, Citizens Financial Group has announced the appointment of Aunoy Banerjee as its new Chief Financial Officer. Banerjee, who is currently the CFO of Barclays Bank PLC, will join Citizens on October 24. Meanwhile, several analyst firms have adjusted their outlooks on Citizens Financial Group. Truist Securities increased its price target to $52, citing the bank’s second-quarter earnings beat and positive third-quarter guidance. Citi also raised its price target to $60, maintaining a Buy rating due to favorable third-quarter guidance. DA Davidson followed suit by setting a new price target of $55, acknowledging strong second-quarter results and an optimistic update for the third quarter. Additionally, Evercore ISI upgraded the stock rating from In Line to Outperform, highlighting expected improvements in earnings, balance sheet trends, and net interest margin dynamics. These recent developments reflect a growing confidence among analysts in Citizens Financial Group’s financial performance.

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