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Citizens Financial Group

LSE:0HYP
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0HYP
LSE
$16B
Market Cap
  1. Home
  2. GB
  3. Banks
Company description

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The last earnings update was 1 day ago. More info.


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0HYP Share Price and Events
7 Day Returns
0%
LSE:0HYP
2.3%
GB Banks
1.9%
GB Market
1 Year Returns
-16.9%
LSE:0HYP
-7.8%
GB Banks
2.5%
GB Market
0HYP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Citizens Financial Group (0HYP) 0% -2.7% - -16.9% - -
GB Banks 2.3% 3.6% 4.4% -7.8% 16.1% -12.3%
GB Market 1.9% 3% 7.9% 2.5% 15.6% 6.8%
1 Year Return vs Industry and Market
  • 0HYP underperformed the Banks industry which returned -7.8% over the past year.
  • 0HYP underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.5% over the past year.
Price Volatility
0HYP
Industry
5yr Volatility vs Market

Value

 Is Citizens Financial Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Citizens Financial Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Citizens Financial Group.

LSE:0HYP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= $48.45 * 8.6%
$4.16
Book Value of Equity per Share Weighted future Book Value estimates from 11 analysts. $48.45
Discount Rate (Cost of Equity) See below 7%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0HYP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 21%) (77.14%))
0.969
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.969 * 5.96%)
7%

Discounted Cash Flow Calculation for LSE:0HYP using Excess Returns Model Model

The calculations below outline how an intrinsic value for Citizens Financial Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0HYP Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.6% – 7%) * $48.45)
$0.76
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.76 / (7% - 1.23%)
$13.19
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $48.45 + $13.19
$61.65
LSE:0HYP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0HYP represents 0.98388x of NYSE:CFG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98388x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 61.65 x 0.98388
$60.65
Value per share (USD) From above. $60.65
Current discount Discount to share price of $34.79
= -1 x ($34.79 - $60.65) / $60.65
42.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Citizens Financial Group is available for.
Intrinsic value
43%
Share price is $34.79 vs Future cash flow value of $60.65
Current Discount Checks
For Citizens Financial Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Citizens Financial Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Citizens Financial Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Citizens Financial Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Citizens Financial Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0HYP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.67
NYSE:CFG Share Price ** NYSE (2019-04-04) in USD $35.36
United Kingdom of Great Britain and Northern Ireland Banks Industry PE Ratio Median Figure of 15 Publicly-Listed Banks Companies 10.35x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 796 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Citizens Financial Group.

LSE:0HYP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CFG Share Price ÷ EPS (both in USD)

= 35.36 ÷ 3.67

9.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Citizens Financial Group is good value based on earnings compared to the GB Banks industry average.
  • Citizens Financial Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Citizens Financial Group's expected growth come at a high price?
Raw Data
LSE:0HYP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts
0.9%per year
United Kingdom of Great Britain and Northern Ireland Banks Industry PEG Ratio Median Figure of 14 Publicly-Listed Banks Companies 0.86x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 563 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

LSE:0HYP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.62x ÷ 0.9%

11.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Citizens Financial Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Citizens Financial Group's assets?
Raw Data
LSE:0HYP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $44.24
NYSE:CFG Share Price * NYSE (2019-04-04) in USD $35.36
United Kingdom of Great Britain and Northern Ireland Banks Industry PB Ratio Median Figure of 16 Publicly-Listed Banks Companies 0.88x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,365 Publicly-Listed Companies 1.51x
LSE:0HYP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CFG Share Price ÷ Book Value per Share (both in USD)

= 35.36 ÷ 44.24

0.8x

* Primary Listing of Citizens Financial Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Citizens Financial Group is good value based on assets compared to the GB Banks industry average.
X
Value checks
We assess Citizens Financial Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Citizens Financial Group has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Citizens Financial Group expected to perform in the next 1 to 3 years based on estimates from 17 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Citizens Financial Group expected to grow at an attractive rate?
  • Citizens Financial Group's earnings growth is positive but not above the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Citizens Financial Group's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Citizens Financial Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0HYP Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0HYP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 17 Analysts 0.9%
LSE:0HYP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 17 Analysts 3.9%
United Kingdom of Great Britain and Northern Ireland Banks Industry Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0HYP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0HYP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 6,941 1,773 5
2020-12-31 6,790 1,791 16
2019-12-31 6,525 1,768 17
LSE:0HYP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 5,921 1,735
2018-12-31 5,802 1,767 1,692
2018-09-30 5,710 1,640 1,908
2018-06-30 5,580 2,761 1,813
2018-03-31 5,482 1,734 1,706
2017-12-31 5,386 1,883 1,638
2017-09-30 5,205 1,742 1,254
2017-06-30 5,117 1,323 1,203
2017-03-31 5,031 1,969 1,128
2016-12-31 4,886 1,490 1,031
2016-09-30 4,783 1,596 970
2016-06-30 4,622 1,418 893

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Citizens Financial Group's earnings are expected to grow by 0.9% yearly, however this is not considered high growth (20% yearly).
  • Citizens Financial Group's revenue is expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0HYP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below

All data from Citizens Financial Group Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0HYP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.55 4.65 4.49 4.00
2020-12-31 4.18 4.50 4.09 16.00
2019-12-31 3.87 4.06 3.79 16.00
LSE:0HYP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.67
2018-12-31 3.53
2018-09-30 3.93
2018-06-30 3.69
2018-03-31 3.43
2017-12-31 3.26
2017-09-30 2.47
2017-06-30 2.35
2017-03-31 2.18
2016-12-31 1.97
2016-09-30 1.84
2016-06-30 1.69

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Citizens Financial Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Citizens Financial Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Citizens Financial Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Citizens Financial Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Citizens Financial Group's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Citizens Financial Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Citizens Financial Group's 1-year earnings growth is less than its 5-year average (1.7% vs 35.5%)
  • Citizens Financial Group's earnings growth has not exceeded the GB Banks industry average in the past year (1.7% vs 42.2%).
Earnings and Revenue History
Citizens Financial Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Citizens Financial Group Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0HYP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 5,921.00 1,735.00 3,128.00
2018-12-31 5,802.00 1,692.00 3,064.00
2018-09-30 5,710.00 1,908.00 2,972.00
2018-06-30 5,580.00 1,813.00 2,918.00
2018-03-31 5,482.00 1,706.00 2,882.00
2017-12-31 5,386.00 1,638.00 2,857.00
2017-09-30 5,205.00 1,254.00 2,822.00
2017-06-30 5,117.00 1,203.00 2,811.00
2017-03-31 5,031.00 1,128.00 2,785.00
2016-12-31 4,886.00 1,031.00 2,759.00
2016-09-30 4,783.00 970.00 2,720.00
2016-06-30 4,622.00 893.00 2,691.00
2016-03-31 4,531.00 840.00 2,676.00
2015-12-31 4,522.00 833.00 2,684.00
2015-09-30 4,483.00 809.00 2,584.00
2015-06-30 4,434.00 785.00 2,581.00
2015-03-31 4,447.00 908.00 2,678.00
2014-12-31 4,367.00 865.00 2,668.00
2014-09-30 4,286.00 820.00 2,745.00
2014-06-30 4,210.00 775.00 2,733.00
2014-03-31 4,112.00 -3,443.00 2,646.00
2013-12-31 4,164.00 -3,426.00 2,685.00
2013-09-30 4,201.00 -3,477.00 2,694.00
2013-06-30 4,316.00 -3,412.00 2,690.00
2013-03-31 4,432.00 707.00 2,680.00
2012-12-31 4,493.00 643.00 2,756.00
2012-09-30 4,512.00 657.00 2,766.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Citizens Financial Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Citizens Financial Group used its assets more efficiently than the GB Banks industry average last year based on Return on Assets.
  • Unable to establish if Citizens Financial Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Citizens Financial Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Citizens Financial Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Citizens Financial Group's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Citizens Financial Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Citizens Financial Group Company Filings, last reported 2 weeks ago.

LSE:0HYP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 21,531.00 12,577.00 3,068.00
2018-12-31 20,817.00 17,534.00 1,546.00
2018-09-30 20,276.00 18,468.00 4,306.00
2018-06-30 20,467.00 15,891.00 4,203.00
2018-03-31 20,059.00 15,626.00 4,275.00
2017-12-31 20,270.00 14,746.00 1,796.00
2017-09-30 20,109.00 15,600.00 3,003.00
2017-06-30 20,064.00 15,746.00 5,008.00
2017-03-31 19,847.00 15,955.00 4,701.00
2016-12-31 19,747.00 17,808.00 2,021.00
2016-09-30 20,181.00 16,154.00 4,737.00
2016-06-30 20,226.00 16,307.00 5,694.00
2016-03-31 19,965.00 14,881.00 3,457.00
2015-12-31 19,646.00 13,803.00 2,080.00
2015-09-30 19,600.00 11,948.00 2,957.00
2015-06-30 19,586.00 14,992.00 3,720.00
2015-03-31 19,564.00 15,945.00 6,361.00
2014-12-31 19,268.00 15,783.00 2,175.00
2014-09-30 19,383.00 14,599.00 3,728.00
2014-06-30 19,597.00 16,988.00 6,300.00
2014-03-31 19,442.00 13,261.00 3,777.00
2013-12-31 19,196.00 9,386.00 2,240.00
2013-09-30 19,413.00 5,498.00 3,560.00
2013-06-30 19,610.00 5,146.00 5,453.00
2013-03-31 24,207.00 5,525.00 7,538.00
2012-12-31 24,129.00 6,114.00 4,044.00
2012-09-30 24,109.00 9,428.00 7,835.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Citizens Financial Group has an acceptable proportion of non-loan assets held.
  • Citizens Financial Group's liabilities are made up of primarily low risk sources of funding.
  • Loans at Citizens Financial Group are broadly funded by customer deposits.
  • Citizens Financial Group's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Citizens Financial Group has a sufficient allowance for bad loans.
  • Citizens Financial Group has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Citizens Financial Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Citizens Financial Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Citizens Financial Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.62%
Current annual income from Citizens Financial Group dividends. Estimated to be 4.14% next year.
If you bought $2,000 of Citizens Financial Group shares you are expected to receive $72 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Citizens Financial Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Citizens Financial Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0HYP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 17 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Banks Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 4.9%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0HYP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.63 5.00
2020-12-31 1.52 17.00
2019-12-31 1.35 15.00
LSE:0HYP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-18 1.280 3.620
2019-02-21 1.280 3.676
2019-01-18 1.280 3.611
2018-11-07 1.080 3.269
2018-10-19 1.080 2.946
2018-08-06 1.080 2.727
2018-07-20 1.080 2.692
2018-01-19 0.880 2.064
2017-06-29 0.720 1.923
2017-05-04 0.560 1.576
2017-04-20 0.560 1.536
2017-02-24 0.560 1.568
2017-01-20 0.560 1.519
2016-07-21 0.480 1.755
2016-02-26 0.400 1.847
2016-01-22 0.400 2.023
2015-01-26 0.400 1.578
2014-09-24 0.268 1.158

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Citizens Financial Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Citizens Financial Group only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Citizens Financial Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess Citizens Financial Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Citizens Financial Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Citizens Financial Group has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Citizens Financial Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bruce Van Saun
COMPENSATION $9,405,933
AGE 61
TENURE AS CEO 5.5 years
CEO Bio

Mr. Bruce W. Van Saun has been an Independent Director of Moody's Corporation since March 01, 2016. He has been the Chairman and Chief Executive Officer of Citizens Financial Group, Inc. since October 1, 2013. Mr. Van Saun has been Head of RBS Americas at The Royal Bank of Scotland Group plc since October 1, 2013. He serves as a Member of Management Board of ConvergEx Holdings, LLC. He has been an Adviser to U.S Private Equity companies since 2008. He has more than 30 years of financial services experience. Mr. Van Saun served as Group Finance Director of The Royal Bank of Scotland Group plc from October 1, 2009 to October 1, 2013. He served as the Chief Financial Officer of DPM Mellon, LLC. He served as a Group Finance Director of National Westminster Bank plc until September 30, 2013 and its Executive Director from October 2009 to September 30, 2013. Mr. Van Saun served as Group Finance Director of NatWest Markets Plc (formerly known as Royal Bank of Scotland Plc) until September 30, 2013 and its Executive Director from October 2009 to September 30, 2013. From 1997 to 2008, he held a number of senior positions with Bank of New York and later Bank of New York Mellon, Inc. He served as the Chief Financial Officer of The Bank of New York Mellon Corporation (alternate Name: Mellon Bank NA of New York Mellon Corporation) and its unit, Bank of New York from 1998 to September 1, 2006. He served as the Head of Asset Management and Private Banking of The Bank of New York Mellon, Inc. since July 26, 2006. He serves on the boards of Jobs for Massachusetts, the Partnership for Rhode Island, and the National Constitution Center. He has played an essential role in Bank of New York Co. Inc. strategic development, strengthening its financial position and transforming its business mix through more than 80 acquisitions and two major divestitures. He was responsible for Bank of New York' finance, treasury, tax, corporate development and investor relations functions and oversees capital markets and leasing businesses. He served as a Senior Executive Vice President of The Bank of New York Mellon Corporation from 1998 to 2005. He served as an Executive Vice President of Bank of New York since 1998. He served as the Chief Financial Officer of Deutsche Bank North America Group from October 1994 to May 1997 and Chief Operating Officer and Chief Financial Officer of Wasserstein Perella & Co., Inc., from 1990 to October 1994. He served with Kidder Peabody & Co. Mr. Van Saun served as the Chairman of Supervisory Board and Member of Supervisory Board at The Royal Bank of Scotland N.V. from April 1, 2010 to October 2013 and RBS Holdings N.V. from April 01, 2010 to October 01, 2014. From 2006 to 2007, he served as a Vice Chairman of Asset Management & Market Related Businesses at Bank of New York. He served as a Vice Chairman of The Bank of New York Mellon Corporation and Bank of New York from November 21, 2005 to July 2008. He has been a Director at Citizens Financial Group, Inc. since October 1, 2013, Citizens Bank, National Association (Citizens Bank, N.A. (CBNA)) and the subsidiaries of Citizens Financial Group, Inc. since October 2013. He served as Director at Citizens Bank of Pennsylvania (CBPA). He has been Director at Federal Reserve Bank of Boston Inc. since January 1, 2017. He served as an Independent Non-Executive Member of Franchise Board at Society of Lloyd's since September 3, 2012 until June 3, 2016. He served as an Executive Director of The Royal Bank Of Scotland Group Plc from October 1, 2009 to October 1, 2013. He served as Head of Asset Management & Private Banking at Bank of New York Mellon, Inc. since July 26, 2006. He served as a Director of ConvergEx Inc. from May 2011 to October 2013. He served as a Director of Ship Midco Limited (also known as Worldpay) from July 2011 to September 30, 2013. He served as a Director of Resolute FP US Inc. (formerly, AbiBow US Inc. and Bowater Incorporated) from June 29, 2005 to April 15, 2008. He served as a Director of Resolute Forest Products Inc. (formerly, AbitibiBowater, Inc) from 2005 to April 14, 2008. He served as a Non-Executive Director of Direct Line Insurance Group PLC from April 27, 2012 to October 1, 2013 and Direct Line Insurance Limited until October 1, 2013. He served as a Director at Resolute FP US Inc. from June 29, 2005 to April 15, 2008. He served as a Director of The Stride Rite Corporation (also known as Collective Brands Performance + Lifestyle Group) from 1999 to December 22, 2005. He is a Member of the Financial Services Roundtable and The Clearing House Supervisory Board. He qualified as a Certified Public Accountant with Deloittes in 1981. Mr. Van Saun holds a B.S. degree in Business Administration from Bucknell University in 1979 and an M.B.A. in Finance and General Management from the University of North Carolina in 1983.

CEO Compensation
  • Bruce's compensation has been consistent with company performance over the past year.
  • Bruce's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Citizens Financial Group management team in years:

2.1
Average Tenure
56
Average Age
  • The tenure for the Citizens Financial Group management team is about average.
Management Team

Bruce Van Saun

TITLE
Chairman
COMPENSATION
$9M
AGE
61
TENURE
5.5 yrs

John Woods

TITLE
Vice Chairman & CFO
COMPENSATION
$4M
AGE
54
TENURE
2.1 yrs

Brad Conner

TITLE
Vice Chairman of Consumer Banking
COMPENSATION
$3M
AGE
56

Don McCree

TITLE
Vice Chairman & Head of Commercial Banking Division
COMPENSATION
$4M
AGE
56
TENURE
3.7 yrs

Malcolm Griggs

TITLE
Chief Risk Officer & Executive VP
COMPENSATION
$2M
AGE
57
TENURE
4.3 yrs

Craig Read

TITLE
Executive VP
AGE
49
TENURE
0.7 yrs

Ted Swimmer

TITLE
Executive VP and Head of Corporate Finance & Capital Markets for Citizens Commercial Banking
TENURE
0.7 yrs

Michael Ruttledge

TITLE
Group Chief Information Officer
TENURE
0.3 yrs

Ellen Taylor

TITLE
Head of Investor Relations & Executive VP

Stephen Gannon

TITLE
Chief Legal Officer
COMPENSATION
$2M
AGE
65
Board of Directors Tenure

Average tenure and age of the Citizens Financial Group board of directors in years:

8.2
Average Tenure
68
Average Age
  • The tenure for the Citizens Financial Group board of directors is about average.
Board of Directors

John Woods

TITLE
Vice Chairman & CFO
COMPENSATION
$4M
AGE
54
TENURE
0.2 yrs

Shivan Subramaniam

TITLE
Director
COMPENSATION
$236K
AGE
69
TENURE
14.3 yrs

Bruce Van Saun

TITLE
Chairman
COMPENSATION
$9M
AGE
61
TENURE
5.5 yrs

Bud Koch

TITLE
Director
COMPENSATION
$251K
AGE
71
TENURE
14.6 yrs

Art Ryan

TITLE
Lead Director
COMPENSATION
$266K
AGE
75
TENURE
5.3 yrs

Wendy Watson

TITLE
Director
COMPENSATION
$261K
AGE
70
TENURE
8.5 yrs

Bill Hankowsky

TITLE
Director
COMPENSATION
$221K
AGE
67
TENURE
12.4 yrs

Hoddy Hanna

TITLE
Director
COMPENSATION
$221K
AGE
71
TENURE
9.8 yrs

Marita Zuraitis

TITLE
Director
COMPENSATION
$211K
AGE
58
TENURE
7.9 yrs

Mark Casady

TITLE
Director
COMPENSATION
$216K
AGE
58
TENURE
4.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
23. Nov 18 Buy Shivan Subramaniam Individual 21. Nov 18 21. Nov 18 3,000 $35.32 $105,960
25. Oct 18 Buy Charles Koch Individual 23. Oct 18 23. Oct 18 14,000 $36.32 $508,480
07. Jun 18 Sell Randall Black Individual 05. Jun 18 05. Jun 18 -792 $41.49 $-32,860
X
Management checks
We assess Citizens Financial Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Citizens Financial Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provides retail and commercial banking products and services in the United States. The company operates in two segments, Consumer Banking and Commercial Banking. The Consumer Banking segment offers traditional banking products and services, including checking and savings accounts, home and education loans, credit cards, business loans, mortgage and home equity lending, and unsecured product finance and personal loans, as well as wealth management and investment services to retail customers and small businesses. This segment also provides indirect auto finance for new and used vehicles through auto dealerships. The Commercial Banking segment offers various financial products and solutions, such as loans and leasing, trade finance, deposit and treasury management, cash management, and foreign exchange and interest rate risk management solutions; and corporate finance, merger and acquisition, and debt and equity capital markets capabilities. It serves government banking, not-for-profit, healthcare, technology, professionals, oil and gas, asset finance, franchise finance, asset-based lending, commercial real estate, private equity, and sponsor finance industries. Citizens Financial Group, Inc. operates approximately 1,100 branches and 2,900 ATMs in 11 states in the New England, Mid-Atlantic, and Midwest regions, as well as through online, telephone, and mobile banking services; and maintains approximately 140 retail and commercial non-branch offices in its banking footprint and in other states, and the District of Columbia. The company was formerly known as RBS Citizens Financial Group, Inc. and changed its name to Citizens Financial Group, Inc. in April 2014. Citizens Financial Group, Inc. was founded in 1828 and is headquartered in Providence, Rhode Island.

Details
Name: Citizens Financial Group, Inc.
0HYP
Exchange: LSE
Founded: 1828
$16,305,087,325
461,116,723
Website: http://www.citizensbank.com
Address: Citizens Financial Group, Inc.
One Citizens Plaza,
Providence,
Rhode Island, 02903,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CFG Common Stock New York Stock Exchange US USD 24. Sep 2014
DB 1C5 Common Stock Deutsche Boerse AG DE EUR 24. Sep 2014
LSE 0HYP Common Stock London Stock Exchange GB USD 24. Sep 2014
NYSE CFG.PRD 6.350% DEP PFD D New York Stock Exchange US USD 23. Jan 2019
Number of employees
Current staff
Staff numbers
18,078
Citizens Financial Group employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 22:20
End of day share price update: 2019/04/04 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/04/18
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.