Citizens Financial (CFG) Stock Rises on Q2 Earnings

Citizens Financial (CFG) stock is advancing on Thursday morning after the retail bank posted earnings and revenue that surpassed analysts’ estimates for the 2016 second quarter.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Citizens Financial (CFG) - Get Report are climbing 2.95% to $21.95 late Thursday morning after the retail bank holding company reported higher-than-expected results for the 2016 second quarter.

Before today's market open, the Providence, RI-based firm posted earnings of 46 cents per diluted share, exceeding analysts' expectations of 44 cents per share.

Revenue rose 4% to $1.3 billion from last year and was above analysts' projections of $1.26 billion.

"We continue to deliver strong loan and deposit growth, and generated 8% sequential quarter fee income growth led by strong momentum in our capital markets business and broad strength in our consumer segment," CEO Bruce Van Saun said in a statement.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share and increase in net income.

But the team also finds that the stock has had a generally disappointing performance in the past year.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CFG

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