Sep 2026 (Q3 FY26) — Oct 16, 2026
Citizens Financial Group Q3 FY26 — Strong Earnings Growth and Capital Returns
Read the full callCitizens Financial Group (CFG) earnings
- Jun 2026
- Sep 2026 (Q3 FY26)
- Dec 2025
Citizens Financial Group earnings: last reported Fri, 16 Oct 2026, for the quarter ended Sep 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,283 | +12.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 587 | +34.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
42 of 53 judged targets kept · 47 open · verdicts reflect calls analysed to Sep 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| CET1 ratio | approximately 10.5% | Jun 2026 | We maintained excellent balance sheet strength, ending the quarter with CET1 at a healthy 10.5% at the top end of our medium-term target operating range. | Achieved |
| Noninterest income growth | up approximately 1% | Jun 2026 | Fee income is down 1% linked quarter and up 3% year-over-year. | Missed |
| Net Interest Margin (NIM) | 3.25% to 3.4% | Sep 2024 | and in the range of 3.30% to 3.50% in 4Q '27. | Revised Up |
11 of CITIZENS FINANCIAL GROUP INC/RI's 100 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 97 more targets are in the full ledger.
Claimed
- EPS grew 8.5% sequentially and 34% year-on-year to $1.41.
- ROTCE improved to 15.1%, up from 13.9% in Q2, with a clear path to 16%-18% by end of FY27.
- Delivered strong positive operating leverage of 5.3% year-on-year and 6.3% year-to-date.
- Net interest income (NII) increased 2.7% sequentially and 13% year-on-year, with NIM expanding 2 basis points to 3.19%.
- Dividend increased 13% to $0.52 per share, and share repurchase program capacity increased by $1.3 billion to $1.95 billion.
Qualified
- Fee income was down 1% linked quarter due to volatile capital markets conditions, though pipelines are strong for Q4.
- AOCI adjusted CET1 ratio ended the quarter at 8.7%, impacted by interest rate movements.
- Modest reduction in ACL coverage ratio to 1.47% due to portfolio mix shifts.
Price
$62.76 −0.95% · −$0.6
Performance +27.3% 1Y
1Y: $49.31 on 17 Oct 2025 → $62.76. High $74.73 (14 Aug 2026), low $49.31 (17 Oct 2025).
- Previous close
- $63.36
- 52-week range
- $49.71 – $74.73
- One year
- +24.80%
Overview
- Symbol
- CFG
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
42 of 53 judged targets kept · 47 open · verdicts reflect calls analysed to Sep 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| CET1 ratio | approximately 10.5% | Jun 2026 | We maintained excellent balance sheet strength, ending the quarter with CET1 at a healthy 10.5% at the top end of our medium-term target operating range. | Achieved |
| Noninterest income growth | up approximately 1% | Jun 2026 | Fee income is down 1% linked quarter and up 3% year-over-year. | Missed |
| Net Interest Margin (NIM) | 3.25% to 3.4% | Sep 2024 | and in the range of 3.30% to 3.50% in 4Q '27. | Revised Up |
Claimed
- EPS grew 8.5% sequentially and 34% year-on-year to $1.41.
- ROTCE improved to 15.1%, up from 13.9% in Q2, with a clear path to 16%-18% by end of FY27.
- Delivered strong positive operating leverage of 5.3% year-on-year and 6.3% year-to-date.
- Net interest income (NII) increased 2.7% sequentially and 13% year-on-year, with NIM expanding 2 basis points to 3.19%.
- Dividend increased 13% to $0.52 per share, and share repurchase program capacity increased by $1.3 billion to $1.95 billion.
Qualified
- Fee income was down 1% linked quarter due to volatile capital markets conditions, though pipelines are strong for Q4.
- AOCI adjusted CET1 ratio ended the quarter at 8.7%, impacted by interest rate movements.
- Modest reduction in ACL coverage ratio to 1.47% due to portfolio mix shifts.
The full ledger
Open CITIZENS FINANCIAL GROUP INC/RI’s full ledger
A free account opens 5 company ledgers a month. All 100 tracked commitments, with each call’s wording and source.
Call summaries
Jun 2026 (Q2 FY26) — Jul 16, 2026
Citizens Financial Group Q2 FY26 — Record Revenue and Strong Operating Leverage
Read the full callMar 2026 (Q1 FY26) — Apr 16, 2026
Citizens Financial Group Q1 FY26 — 47% EPS growth, 24bp YoY NIM expansion and record Q1 capital markets fees
Read the full callNews
Latest news
From the news desk, item by item, hours after each call.
Every analysed call
Citizens Financial Group earnings calls (CFG)
Financials
What the filings say
Net profit, year on year: +35% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,901 | 1,986 | 1,935 | 2,037 | 2,118 | 2,157 | 2,168 | 2,283 |
| Profit before tax | 470 | 508 | 468 | 554 | 629 | 677 | 650 | 755 |
| Tax rate | 18.7% | 21.1% | 20.3% | 21.3% | 21.5% | 22.0% | 20.5% | 22.3% |
| Net profit | 382 | 401 | 373 | 436 | 494 | 528 | 517 | 587 |
| EPS ($ per share) | 0.77 | — | 0.78 | 0.93 | 1.06 | — | 1.14 | 1.31 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 |
| Reserves | 5,385 | 6,498 | 6,445 | 7,978 | 9,159 | 9,816 | 10,412 | 11,345 |
| Total liabilities | 139,701 | 143,532 | 160,676 | 164,989 | 203,043 | 197,622 | 193,267 | 200,034 |
| Fixed assets | 791 | 761 | 759 | 768 | 844 | 895 | 875 | 915 |
| Total assets | 160,518 | 165,733 | 183,349 | 188,409 | 226,733 | 221,964 | 217,521 | 226,351 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,767 | 1,697 | 111 | 2,275 | 4,119 | 2,961 | 2,001 | 2,211 |
| Cash from investing | -7,077 | -3,875 | -6,136 | -10,486 | -12,637 | 5,248 | 2,987 | -5,967 |
| Cash from financing | 6,352 | 1,490 | 15,372 | 4,636 | 9,907 | -7,128 | -6,015 | 5,882 |
| Net cash flow | 1,042 | -688 | 9,347 | -3,575 | 1,389 | 1,081 | -1,027 | 2,126 |
| Capital expenditure | -232 | -126 | — | — | — | — | — | — |
| Free cash flow | 1,535 | 1,571 | — | — | — | — | — | — |
CFG revenue by segment
Commercial Banking grew from 39% to 44% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Consumer Banking | 61% | — | 61% | 62% | 54% | — | 58% | 56% | +6.3% |
| Commercial Banking | 37% | — | 39% | 38% | 46% | — | 41% | 44% | +36.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CFG operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Assets under management (AUM) Private Bank | $5.2BThe Private Bank continued to see excellent growth, reaching $8.7 billion in deposits and $5.2 billion in AUM.Source: earnings call transcript | $7.6BWe ended the quarter with $7.6 billion in AUM, up $1.1 billion linked quarter, reflecting the continued strong conversion rates of the wealth lift-outs.Source: earnings call transcript | — | — | — | — | +46.2% |
| Common equity tier 1 ratio (CET1) | — | 10.7%Our CET1 increased 10 basis points to 10.7%.Source: earnings call transcript | 10.6%Our CET1 ratio is 10.6%, and adjusting for the AOCI opt-out removal, our CET1 ratio increased to 9.5%.Source: earnings call transcript | 10.5%Our balance sheet position continues to be robust with CET1 at 10.5% and our allowance for loan losses at 1.52%.Source: earnings call transcript | 10.4%We ended the second quarter with CET1 at 10.4%, while executing $225 million in stock buybacks during the quarter.Source: earnings call transcript | 10.5%We maintained excellent balance sheet strength, ending the quarter with CET1 at a healthy 10.5% at the top end of our medium-term target operating range.Source: earnings call transcript | +0.1 pt |
| Common equity tier 1 ratio (CET1) Adjusted for AOCI opt-out removal | 9.1%We ended the quarter in a very strong balance sheet position with CET1 at 10.64% or 9.1% adjusted for the AOCI opt-out removal.Source: earnings call transcript | 9.4%And adjusting for the AOCI opt-out removal, our CET1 ratio is 9.4%.Source: earnings call transcript | — | — | — | 8.7%Our AOCI adjusted CET1 ratio and TCE ratio ended the quarter at 8.7% and 6.7%, respectively.Source: earnings call transcript | — |
| Net interest margin | 2.9%Highlights include NIM expansion of 3 basis points to 2.90%; core loan growth of 1%; resilience in our fee categories despite some softness in capital markets, given market uncertainty; and credit trends remaining favorable along with continued share repurchases.Source: earnings call transcript | 3%Net interest margin continues to steadily expand, up 5 basis points to 3% and average loan volume was up 1%, which combined, delivered 3.5% NII growth.Source: earnings call transcript | 3.07%Our net interest margin continues to steadily expand, up 7 basis points this quarter to 3.07%.Source: earnings call transcript | 3.14%As you see from the NIM back at the bottom of the slide, our margin improved 7 basis points to 3.14%, driven primarily by the benefits of the reduced drag from terminated swaps and noncore runoff with a 5 basis point of combined impact.Source: earnings call transcript | — | — | +0.1 pt |
| Return on tangible common equity (ROTCE) | 9.6%Referencing Slides 5 and 6, we delivered EPS of $0.77 for the first quarter with ROTCE of 9.6%.Source: earnings call transcript | — | 12.2%For the fourth quarter, we generated EPS of $1.13, up 8% linked quarter and 36% year-on-year, and delivered a 12.2% ROTCE.Source: earnings call transcript | 12.2%Referencing Slides 3 and 4, we delivered EPS of $1.13 for the first quarter with ROTCE of 12.2%.Source: earnings call transcript | — | — | 0 pt |
| Employees Private Bank | — | ~500We continue to build out our Private Bank team with additional hires in Southern California, and we now have around 500 people in the business, quite the ramp from a start-up in 2023.Source: earnings call transcript | — | <600In terms of talent, the main needs we've taken the business from about 150 people at launch up to close to 600 today, including all the support dedicated support people.Source: earnings call transcript | — | <700We're now up to almost 700 people.Source: earnings call transcript | — |
| Efficiency ratio | — | 63%Disciplined expense management and strong revenues resulted in approximately 170 basis points of improvements in our efficiency ratio to 63%.Source: earnings call transcript | 62%Disciplined expense management and strong revenues resulted in approximately 79 basis points of improvement in our efficiency ratio to 62%.Source: earnings call transcript | — | 61%On Slide 7, expenses were managed tightly, up about 1% linked quarter, and we improved our efficiency ratio to 61%.Source: earnings call transcript | — | — |
| Branches Private Bank | — | — | — | — | 10We also opened a private bank office in West Palm Beach, our 10th.Source: earnings call transcript | 10We have 10 PBOs.Source: earnings call transcript | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
93 filings between Oct 27, 2025 and Sep 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$10.47M
3 sales by 3 insiders
Compensation
not trading decisions- 74
- Award — granted as compensation
- 11
- Tax withheld — shares kept back by the company to cover tax
Also filed: 5 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| VAN SAUN BRUCE | — | $9.32M | Jul 24, 2026 |
| LaMonica Susan | — | $769.5K | Mar 11, 2026 |
| Moosally Michelle | — | $376.1K | May 12, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 1, 2026 | Boss Matthew Head of Consumer Banking | Tax withheld | 10,778 | $742.3K |
| Aug 13, 2026 | Atkinson Tracy A Director | Award | 78 | $0 |
| Aug 13, 2026 | Cumming Christine M Director | Award | 269 | $0 |
| Aug 13, 2026 | Swift Christopher Director | Award | 162 | $0 |
| Aug 13, 2026 | SIEKERKA MICHELE N Director | Award | 134 | $0 |
| Aug 13, 2026 | ZURAITIS MARITA Director | Award | 269 | $0 |
| Aug 13, 2026 | KELLY EDWARD J III Director | Award | 246 | $0 |
| Aug 13, 2026 | Lillis Terrance Director | Award | 246 | $0 |
| Aug 13, 2026 | Alexander Lee Director | Award | 162 | $0 |
| Aug 13, 2026 | Leary Robert G Director | Award | 208 | $0 |
| Aug 13, 2026 | Wade Claude E. Director | Award | 47 | $0 |
| Aug 13, 2026 | Cummings Kevin Director | Award | 134 | $0 |
| Jul 24, 2026 | VAN SAUN BRUCE Chairman and CEO | Gift | 20,850 | $0 |
| Jul 24, 2026 | VAN SAUN BRUCE Chairman and CEO | Sale | 129,369 | $9.32M |
| Jul 24, 2026 | VAN SAUN BRUCE Chairman and CEO | Gift | 17,500 | $0 |
| Jun 15, 2026 | Stein Richard L. Chief Risk Officer | Tax withheld | 4,913 | $332.4K |
| May 14, 2026 | Swift Christopher Director | Award | 195 | $0 |
| May 14, 2026 | Leary Robert G Director | Award | 251 | $0 |
| May 14, 2026 | Alexander Lee Director | Award | 195 | $0 |
| May 14, 2026 | SIEKERKA MICHELE N Director | Award | 162 | $0 |
| May 14, 2026 | Cumming Christine M Director | Award | 323 | $0 |
| May 14, 2026 | Cummings Kevin Director | Award | 162 | $0 |
| May 14, 2026 | Lillis Terrance Director | Award | 296 | $0 |
| May 14, 2026 | ZURAITIS MARITA Director | Award | 323 | $0 |
| May 14, 2026 | Wade Claude E. Director | Award | 57 | $0 |
| May 14, 2026 | Atkinson Tracy A Director | Award | 94 | $0 |
| May 14, 2026 | KELLY EDWARD J III Director | Award | 296 | $0 |
| May 12, 2026 | Moosally Michelle Chief Legal Officer | Sale | 6,050 | $376.1K |
| Apr 23, 2026 | Swift Christopher Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Alexander Lee Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Lillis Terrance Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Leary Robert G Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Wade Claude E. Director | Award | 2,608 | $0 |
| Apr 23, 2026 | SIEKERKA MICHELE N Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Cumming Christine M Director | Award | 2,608 | $0 |
| Apr 23, 2026 | KELLY EDWARD J III Director | Award | 2,608 | $0 |
| Apr 23, 2026 | ZURAITIS MARITA Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Cummings Kevin Director | Award | 2,608 | $0 |
| Apr 23, 2026 | Atkinson Tracy A Director | Award | 2,608 | $0 |
| Mar 11, 2026 | LaMonica Susan Chief Human Resources Officer | Sale | 13,258 | $769.5K |
| Mar 1, 2026 | Stein Richard L. Chief Risk Officer | Award | 12,958 | $0 |
| Mar 1, 2026 | VAN SAUN BRUCE Chairman and CEO | Tax withheld | 79,315 | $4.77M |
| Mar 1, 2026 | VAN SAUN BRUCE Chairman and CEO | Award | 51,916 | $0 |
| Mar 1, 2026 | Schnirel Christopher J Chief Accounting Officer | Tax withheld | 1,514 | $91.1K |
| Mar 1, 2026 | Schnirel Christopher J Chief Accounting Officer | Award | 5,814 | $0 |
| Mar 1, 2026 | LaMonica Susan Chief Human Resources Officer | Tax withheld | 13,071 | $786.7K |
| Mar 1, 2026 | LaMonica Susan Chief Human Resources Officer | Award | 12,149 | $0 |
| Mar 1, 2026 | MCCREE DONALD H III Chair of the Commercial Bank | Tax withheld | 31,099 | $1.87M |
| Mar 1, 2026 | MCCREE DONALD H III Chair of the Commercial Bank | Award | 52,334 | $0 |
| Mar 1, 2026 | Stein Richard L. Chief Risk Officer | Tax withheld | 12,295 | $740.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for CITIZENS FINANCIAL GROUP INC/RI
Free account. Everything above stays public.
Write why you follow CITIZENS FINANCIAL GROUP INC/RI and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading