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Investing.com - Citizens Financial Group (NYSE:CFG) reported first quarter earnings that slightly exceeded analyst expectations, while revenue met projections.
The bank’s shares dipped 0.3% following the announcement.
The Providence, Rhode Island-based bank posted adjusted earnings per share of $0.77 for the first quarter, surpassing the analyst consensus of $0.75 by $0.02.
Revenue for the period came in at $1.94 billion, aligning precisely with analyst estimates. Compared to the same quarter last year, revenue remained flat.
Chairman and CEO Bruce Van Saun expressed satisfaction with the company’s performance, stating, "We were pleased with our execution in Q1 as we delivered financial results in line with our expectations, as well as strong progress on our strategic initiatives like the Private Bank/Private Wealth buildout."
Van Saun also highlighted the company’s agreement to sell its purchased student loan portfolio, which he said would accelerate Non-Core rundown and free up capital and liquidity.
He acknowledged the heightened uncertainty in the second quarter due to policy decisions in Washington but expressed confidence in the bank’s ability to navigate challenges.
Citizens Financial Group also announced a quarterly common stock dividend of $0.42 per share, payable on May 14, 2025, to shareholders of record as of April 30, 2025.
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