NYSE$CFG
Citizens Financial Group Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Citizens reported strong results driven by revenue growth and expense management.
Citizens Financial Group reported a net income of $530 million and EPS of $1.18 for the third quarter of 2021. The results reflect broad-based strength across the businesses, including a rebound in mortgage, along with excellent credit results.
- Underlying ROTCE was 14.2% and underlying EPS was $1.22.
- Underlying PPNR was $671 million, reflecting strong results in Capital Markets, Wealth and Mortgage.
- Net interest income increased 2% QoQ due to interest-earning asset growth.
- Credit provision benefit of $33 million reflects strong credit performance and macroeconomic improvement.
Headline financials
Revenue & EPS history
Citizens · Revenue · Quarterly
$1.66B
Revenue by segment
Citizens · $1.5B total across 2 segments · Q4 2019
- Consumer Banking$864M—57.6%
- Commercial Banking$636M—42.4%
Forward guidance
Citizens maintains a positive outlook for a gradual, strong recovery through next year.
Tailwinds
- Integration planning for recent acquisitions is going well.
- Excited about the franchise and synergy benefits as we look forward to 2022.
- Delivered strong results in the third quarter.
- Solid revenue growth across both net interest income and fees.
- Excellent expense discipline resulted in positive sequential operating leverage in excess of 2%.
Headwinds
- Economic growth and loan demand in the second half have been affected by the pandemic.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+1.0%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+3.3%
Avg return
30 days after
69%
35 / 51 earnings
Positive
+18.1%
Q1 2020
Best reaction
-8.2%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | +0.2% | -6.7% | |
| Q4 2025 | +7.1% | +0.2% | -6.7% | |
| Q3 2025 | -0.2% | -2.9% | -0.2% | |
| Q2 2025 | +1.4% | -0.3% | +6.7% | |
| Q1 2025 | -1.8% | -4.5% | +15.8% | |
| Q3 2024 | -3.1% | -5.6% | +7.6% | |
| Q2 2024 | +2.9% | +4.5% | +4.1% | |
| Q1 2024 | +1.5% | +6.6% | +14.7% | |
| Q4 2023 | +1.3% | +6.3% | +1.2% | |
| Q3 2023 | -8.2% | -13.0% | +2.5% | |
| Q2 2023 | +7.2% | +10.4% | -4.8% | |
| Q1 2023 | -4.5% | -6.0% | -14.0% | |
| Q4 2022 | -2.0% | -1.1% | +2.6% | |
| Q3 2022 | -2.8% | +6.6% | +9.4% | |
| Q2 2022 | +1.1% | +0.0% | +6.9% | |
| Q1 2022 | +7.5% | +1.5% | -8.6% | |
| Q4 2021 | -6.3% | -8.2% | -4.3% | |
| Q3 2021 | +0.7% | +2.5% | +1.0% | |
| Q2 2021 | +6.8% | +5.9% | +1.7% | |
| Q1 2021 | -0.2% | -1.4% | +13.0% | |
| Q4 2020 | -4.7% | -6.8% | +4.1% | |
| Q3 2020 | -4.5% | -1.3% | +13.8% | |
| Q2 2020 | -3.1% | +0.2% | +1.8% | |
| Q1 2020 | +18.1% | +13.9% | +15.9% | |
| Q4 2019 | +1.3% | +1.4% | -2.3% | |
| Q3 2019 | +1.6% | +2.8% | +8.5% | |
| Q2 2019 | +5.7% | +8.7% | -6.4% | |
| Q1 2019 | +2.0% | +3.1% | -0.7% | |
| Q4 2018 | +3.8% | +3.1% | +8.3% | |
| Q3 2018 | +2.4% | +0.3% | +3.8% | |
| Q2 2018 | -0.3% | -1.8% | +0.1% | |
| Q1 2018 | +1.6% | +1.6% | -0.7% | |
| Q4 2017 | +4.5% | +3.5% | +0.4% | |
| Q3 2017 | +2.9% | +1.6% | +2.0% | |
| Q2 2017 | +0.6% | -0.2% | -6.2% | |
| Q1 2017 | +2.0% | +6.5% | +1.0% | |
| Q4 2016 | +3.3% | +8.0% | +9.0% | |
| Q3 2016 | +3.1% | +5.2% | +25.1% | |
| Q2 2016 | +2.3% | +5.5% | +10.6% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | -7.2% | — | — | |
| Q3 2015 | +3.2% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q2 2015 | -3.3% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q1 2015 | +2.4% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q4 2014 | +1.9% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2014 | +0.4% | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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