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CITIZENS FINANCIAL GROUP INC/RICFG

Sector
Financial Services
Industry
State Commercial Banks
Exchange
NYSE

Stock Price $CFG

Latest filings

You are here#48 of 58 in Financials by market cap

Filing record · 2016–202610-K1210-Q328-K196

CFG filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 196 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Dec ’16Dec ’16
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  14. $8.25B
YoY changeLargest recent move+20.7%in FY22Latest +5.6%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All CFG Financial Metrics44 metrics

Income Statement9

Balance Sheet16

Cash Flow14

Per Share5

02—Overview

CITIZENS FINANCIAL GROUP INC/RI Financial Overview 2021–2025

Updated Aug 8, 2026

Driven by lower funding costs and a sharp reversal in asset yields, Citizens Financial Group delivered 21.3% net income growth to reach $1.8 billiona in FY2025. This aggressive profitability rebound signals that the bank has successfully restructured its balance sheet to thrive in a shifting interest rate environment. Following a multi-year stretch defined by heavy acquisition integration and macroeconomic turbulence, net income normalized from a post-pandemic peak of $2.2 billion in FY2021 to a highly sustainable $1.8 billion by FY2025.

The underlying engine of this recovery was a 4% increase in net interest income, which hit $5.9 billionb as the net interest margin widened to 2.97%. Citizens also successfully diversified its revenue base, generating a 10% increase in noninterest income to reach $2.4 billion on the back of expanded wealth management and capital markets advisory fees. Operationally, the bank leaned out its cost structure, driving its efficiency ratio down to 64.40% in FY2025 from 67.03% the prior year. This financial discipline allowed the firm to confidently shed $1.9 billion in non-core education loans while simultaneously boosting tangible book value per share by 18% to $38.07.

Investors rewarded this balance sheet optimization and capital return strategy. At the close of FY2025, the market valued the regional bank at a $25.1 billion market capitalizationc. The stock finished the fiscal year at $58.41 per share, commanding a 15.1x P/E ratio against its $3.86 in diluted EPS.

Recent Developments (Q1 and Q2 2026)

In the first half of 2026, Citizens Financial Group accelerated its profitability trajectory, highlighted by Q2 2026 net income surging to $587 milliond, up from $436 million a year earlier. This momentum was driven by a 22 basis point expansion in net interest margin, lifting net interest income to $1.6 billion for the quarter. The bank aggressively invested in its Private Bank and Private Wealth divisions, contributing to a $75 million rise in noninterest expense during Q2 2026. Additionally, the firm bolstered its advisory footprint by acquiring Matrix Capital Markets Group and optimized capital by issuing $400 million in Series J preferred stock.

Bulls will applaud the steady profitability gains, with Return on Tangible Common Equity reaching a robust 13.9%e in Q2 2026. Conversely, bears might argue that at an 18.8x P/E ratio as of August 3, 2026, the stock appears richly valued relative to recent earnings performance, offering a narrower margin of safety if wealth management revenues cool.

What to watch: deposit growth within the Private Bank segment; the planned redemption of Series G preferred stock.

03—Filings

Recent SEC Filings

  1. 8-KCITIZENS FINANCIAL GROUP INC/RI 8-K Report, Financial Results (Oct 16, 2026)Citizens Financial Group, Inc. (CFG) reported strong third quarter 2026 results, demonstrating robust year-over-year growth in net income and earnings per share. The company announced a 29% increase in net income to $636 million and a 34% rise in diluted EPS to $1.41 compared to the prior year. Key drivers of this performance include significant year-over-year growth in net interest income, up 13%, supported by an expanding net interest margin. Additionally, the company achieved positive operating leverage of 5.3% year-over-year, indicating effective expense management relative to revenue growth. The company also announced a 13% increase in its quarterly dividend and an expansion of its share repurchase program, signaling confidence in its financial health and commitment to returning capital to shareholders.
  2. 8-KCITIZENS FINANCIAL GROUP INC/RI 8-K Report, Bylaw Amendment (Oct 8, 2026)Citizens Financial Group, Inc. (CFG) has filed a Form 8-K to report the elimination of its 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G. This action was formalized on October 6, 2026, with the filing of a Certificate of Elimination with the Delaware Secretary of State, effectively removing all provisions related to the Series G Preferred Stock from the company's Restated Certificate of Incorporation. Concurrently, all outstanding shares of this preferred stock were redeemed on the same date. This move signals a significant change in CFG's capital structure by eliminating a class of preferred stock. Investors should note that this action likely has implications for the company's outstanding equity and debt profiles. The elimination of the Series G Preferred Stock and its redemption suggest a strategic decision by management, potentially aimed at simplifying the capital structure, reducing future dividend obligations, or optimizing its balance sheet. Further analysis into the reasons behind this redemption and its impact on financial ratios would be beneficial for investors.
  3. 8-KCITIZENS FINANCIAL GROUP INC/RI 8-K Report, Rights Modification (Jul 31, 2026)Citizens Financial Group, Inc. (CFG) has filed an 8-K detailing the issuance and terms of its new 6.750% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J. This issuance, effective July 30, 2026, involves 400,000 shares with a liquidation preference of $1,000 per share, totaling $400 million in potential capital. The filing clarifies the rights and restrictions associated with this new preferred stock, particularly concerning dividend payments and distributions to common stockholders and other junior stock classes. Key for investors is understanding the implications of the Series J Preferred Stock on CFG's capital structure and dividend policy for its common shares. The terms indicate that if CFG fails to pay or set aside dividends on the Series J Preferred Stock, it will face restrictions on paying dividends to common stock or other junior securities. This structure prioritizes the preferred shareholders, ensuring their dividend payments are met before common shareholders receive distributions. The Certificate of Designations, filed with Delaware, outlines these detailed preferences and limitations, and the related Underwriting Agreement is also filed, providing transparency on the offering process.
  4. 8-KCITIZENS FINANCIAL GROUP INC/RI 8-K Report, Corporate Update (Jul 21, 2026)Citizens Financial Group (CFG) reported strong second quarter 2026 results, with diluted EPS of $1.30 (up 15% from $1.13 in 1Q26 and 41% from $0.92 in 2Q25), net income of $587 million, and ROTCE of 13.9%. Pre-provision profit rose 13% sequentially to $889 million and 24% year over year. Net interest income grew 4.4% quarter over quarter to $1.63 billion, with net interest margin up 3 basis points to 3.17% (FTE). Noninterest income rose 8% sequentially to $652 million, led by record second-quarter capital markets fees ($153 million) and record wealth fees ($102 million). Credit trends continued to improve: net charge-offs fell to 0.37% of average loans, nonaccrual loans declined 4% to $1.4 billion, and the allowance covered 152% of nonaccrual loans. Capital remained solid, with a preliminary CET1 ratio of 10.4% and tangible book value per share up 1% to $38.29. The Form 8-K also discloses that on July 21, 2026, the company launched a proposed public offering of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J. If the offering prices and closes, CFG intends to use the proceeds to redeem some or all of its 4.000% Series G Preferred Stock on the October 6, 2026 dividend payment date. The offering is subject to market conditions, and the company has not committed to the redemption, so the amount and timing remain uncertain. Investors should watch for pricing details and any subsequent redemption notice, since a refinancing of the Series G preferred could modestly affect the company's preferred dividend cost and capital structure. The filing also confirmed a quarterly common dividend of $0.46 per share, payable August 13, 2026. Overall, the filing portrays a bank with accelerating earnings momentum driven by net interest income growth, fee strength, and the Private Bank build-out, alongside improving asset quality. Key watch items include sustained margin expansion, deposit cost pressure (total deposit costs rose 3 basis points), the rising reliance on FHLB advances, and the outcome of the Series J preferred offering.
  5. 8-KCITIZENS FINANCIAL GROUP INC/RI 8-K Report, Financial Results (Jul 16, 2026)Citizens Financial Group (CFG) reported strong second quarter 2026 results, with net income of $587 million (up 35% year over year), diluted EPS of $1.30 (up 41% YoY and 15% QoQ), and ROTCE of 13.9%. Pre-provision profit rose 13% sequentially and 24% year over year to $889 million, driven by net interest income growth of 4.4% QoQ and fee growth of 8% QoQ. Positive operating leverage was 4.1% QoQ and 6.4% YoY, and the efficiency ratio improved to 61.1%. Management highlighted record Wealth fees, a record second-quarter Capital Markets fee result, and continued growth in the Private Bank, which contributed $0.15 to EPS. Credit trends remained favorable. Net charge-offs fell to 0.37% of average loans (from 0.39% in 1Q26 and 0.48% a year ago), nonaccrual loans declined 4% QoQ to $1.4 billion, and the allowance for credit losses stood at 1.48% of loans (152% of nonaccrual loans). Capital remained solid, with a CET1 ratio of 10.4% (preliminary, down from 10.5%), and the company repurchased $225 million of stock and declared a $0.46 quarterly dividend. Tangible book value per share rose to $38.29, up 1% QoQ and 9% YoY. Looking ahead, management guided 3Q26 net interest income up 2.5-3.5%, noninterest income up about 1%, and a CET1 ratio near 10.5% with roughly $125 million in buybacks. It projects NIM expanding to 3.30-3.50% by 4Q27 and reaffirmed a 16-18% ROTCE target by end of 2027. Note that the filing is a furnishing under Items 2.02 and 7.01, and the forward-looking outlook and targets are management projections subject to the risk factors cited.
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04—See also

Related Companies

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