Overview

• U.S. bank's Q2 revenue rose and beat analyst expectations

• Net income climbed 35% yr/yr, EPS up 41% yr/yr

• Company saw 4% sequential net interest income growth and 8% fee growth

Outlook

• Company did not provide specific quantitative guidance for the current quarter or full year in the press release

Result Drivers

• NET INTEREST INCOME - Co reported 4% sequential growth in net interest income

• FEE INCOME - Co said fees grew 8% sequentially, with record Wealth fees and record second quarter fees in Capital Markets

• OPERATING LEVERAGE - Co cited positive operating leverage of 6.4% yr/yr

Company press release: ID:nBw9m2qMRa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue	Beat	$2.28 bln	$2.25 bln (14 Analysts)
Q2 EPS		$1.30
Q2 Net Income		$587 mln
Q2 Net Interest Income		$1.63 bln
Q2 CET1 Capital Ratio		10.40%
Q2 Credit Loss Provision		$134 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Citizens Financial Group Inc is $77.50, about 9% above its July 15 closing price of $71.12

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

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