Can You Bank On Citizens Financial In 2020?
Citizens Financial (NYSE: CFG) posted fourth quarter and year-end numbers on Friday, and the results reflect a stock that was a solid performer for investors last year. Earnings per share increased 2% in the fourth quarter, rising to $0.98 from $0.96 in the fourth quarter of 2018 and beating analysts' estimates. For the full year, the EPS climbed 29 basis points or 8% to $3.81. That's positive news for a stock that returned 36.6% to investors in 2019. The question is: Can investors bank on Citizens Financial continue to deliver in 2020?
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Citizens Financial, based in Providence, R.I., is the 18th largest bank in the country with about $164 billion in total assets under management. In the fourth quarter, revenue climbed 3% year over year to $1.6 billion while net income declined 3% to $450 million. Non-interest income was up 16% due to gains in mortgage banking and capital markets segments, while interest income was down 2% related to the lower interest rate environment. Net interest margin fell 19 basis points to 3.1% -- also related to declining interest rates.
Source Fool.com
