Analyst offers positive 2020 predictions for Citizens Financial Group

PROVIDENCE – California-based financial services firm Wedbush has increased its earnings-per-share estimates for Citizens Financial Group Inc., the parent company for Citizens Bank, according to a new report.

The report by Peter Winter, equity research analyst for Wedbush, ups the Rhode Island-based bank’s earnings per share 2 cents to $3.91 for 2020 and 6 cents to $4.17 for 2021, noting the “solid consumer loan growth” reported in Citizens’ recent earnings release.

In 2019, Citizens Financial Group’s stocks increased 37%, outperforming the regional bank index. However, it still trades at a 6% price-to-earnings ratio, which is lower than others analyzed.

In 2020, Winter predicted a 1-2% increase in the company’s net interest income (the difference between interest earned on assets such as loans, mortgages and securities and interest paid out to customer deposits), a 4-5.5% increase in fee income, and 1.75-2.75% increase in expenses.

- Advertisement -

Citizens was the only Rhode Island financial institution analyzed by Wedbush.

Nancy Lavin is a staff writer for the PBN. Contact her at Lavin@PBN.com.

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.