CITIZENS FINANCIAL GROUP (CFG) Stocks
ABOUT CITIZENS FINANCIAL GROUP
📊 Citizens Financial Group, Inc. is an American bank that provides services for institutional and retail customers. It offers a full range of services which include mortgage loans, internet banking, consumer loans and deposit services. The bank ranks #24 on the List of Largest Banks in the United States.
📊 Citizens has approximately 1 200 branches and more than 3 000 ATMs in 11 U.S. states under the brand Citizens Bank. The states in which it operates include Rhode Island, New Hampshire, Connecticut, Pennsylvania, Maine, Vermont and Delaware. Citizens Financial Group, Inc. was a wholly owned subsidiary of The Royal Bank of Scotland Group between 1988 and 2014 when it had its initial public offering.
📊 In 2015 The Royal Bank of Scotland Group sold its last stake in the company. Many of Citizens branches are located in supermarket chains. Most of these are in Pittsburgh in the Giant Eagle stores. In New England many branches are inside Shaw’s and Stop & Shop stores.
📊 Citizens Financial Group, Inc.’s history dates back to 1828. It is headquartered in Providence, Rhode Island and today it has approximately 18 000 employees. The bank’s subsidiaries include Citizens Bank, National Association, KPF, LLC and Charter One Securities Inc.
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HISTORY OF CITIZENS FINANCIAL GROUP
- In 1828 the bank is established in Providence, Rhode Island as the High Street Bank. The Rhode Island legislature gives a second charter to establish the Citizens Savings Bank in 1871. The bank later acquires its parent group and the Citizens Trust Company is formed. It opens 29 branches in Rhode Island. The bank buys The Greenville Trust Company in 1954 and establishes Citizens Financial Group as a holding company. In 1985 Citizens changes its status to a federal stock savings bank from a mutual savings bank.
- Three years later the Royal Bank of Scotland Group buys Citizens. Under the ownership of RBS the bank buys several smaller banks in New England and these acquisitions make it the second largest bank in the area. The Bank of Ireland gains a 23.5% stake in Citizens in 1996, in conjunction with the purchase of First NH Bank. RBS buys those shares two years later giving it 100% ownership. Citizens Financial Group, Inc.buys the State Street Corporation in 1999 which increases its footprint in the Boston area.
- In 2001 RBS buys Mellon Financial Corporation’s retail banking division in New Jersey, Delaware and Pennsylvania for the price of $2 billion. This acquisition brings expansion outside of New England and makes Citizens Bank the second largest bank in Pennsylvania. It also makes the company a major institution in Pittsburgh and Philadelphia.
- In 2014 the bank starts trading on the New York Stock Exchange. The Citizens Financial Group joins the Fortune 500 in 2016. Citizen expands its presence to Texas and Tennessee when it buys Franklin American Mortgage in 2018. The deal is valued at $511 million.
- In 2018 Temkin rates Citizens “Top Bank for Customer Experience”. Global Finance names it “Best Treasury and Cash Management Bank” in 2019.
- Also in 2019, Forbes ranks Citizens Financial Group among America’s “Top Companies for Diversity”.
VISION & VALUES OF CITIZENS FINANCIAL GROUP
- Citizens Financial Group partners with local non-profit organizations to assist the needy by giving them food, clothing, developing their skills for better jobs, assisting in finding affordable housing and expanding their financial literacy.
MARKET PERFORMANCE OF CITIZENS FINANCIAL GROUP
- Citizens Financial Group, Inc.trades on the New York Stock Exchange under the NYSE stock symbol “CFG”. It is an S&P 500 component.
- The company’s interest income increases with 15% to $3.15 billion for the six months ended June 30, 2019. Its net interest income after loan loss provision increases with 5% to $2.14 billion.
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LATEST NEWS CITIZENS FINANCIAL GROUP
Before buying any stock or share one has to consider a few factors.
STEP 1: PROPER RESEARCH IS ESSENTIAL
Upon deciding you want to buy CITIZENS FINANCIAL GROUP Stocks / Shares, it is critical for the serious investor to do proper research into the said company. Its values should align with those of the investor’s current portfolio. An investor needs to familiarise himself with the basics and history of the company, as well as its leadership and performance in the market. Its company reports should also be scrutinized.
Consultation with a brokerage firm can also assist in determining whether investing in a specific company will complement the investor’s current portfolio. The investment “risk ladder”, which identifies asset classes based on their relative riskiness, is another useful tool when determining which company’s stock / share is the best to buy.
STEP 2: CALCULATE THE AMOUNT OF INVESTMENT IN CITIZENS FINANCIAL GROUP STOCKS / SHARES
It is important for an investor to monitor his total investment in stock in order to keep his portfolio aligned to his investment strategy. The overall value of his holdings will change with the fluctuation in stock prices, which can throw his portfolio off balance. To determine the amount to invest, multiply the number of shares of each stock by its current market price to determine the total investment in that specific stock. For example, if you own 100 shares of a $5 stock, multiply 100 by $5 to get $500.
STEP 3: DECIDE ON THE STOCK / SHARE ORDER TYPE
Investors can choose from a market order, a limit order, a stop order (also referred to as a stop-loss order) or a buy/sell stop order. It is important to familiarise yourself with each type’s pros and cons before deciding which one will suit your current stock profile best. An investor should be guided in this choice by his investment objective.
STEP 4: OPEN A BROKERAGE ACCOUNT
A brokerage account – also known as taxable investment account – is similar to a retirement account, but more flexible. Where a retirement account has limitations on the amount of money that can be contributed annually, and restrictions on when funds can be withdrawn, a brokerage account is more flexible. The latter has no income or contribution limit and the investor can withdraw his money at any given time. This flexibility, together with its potential investment gains, makes a brokerage account more attractive to serious investors. Brokerage accounts are ideal for goals or savings that are further than five years away, but closer than retirement. It can also supplement an investor’s emergency savings.
STEP 5: COMMIT AND PURCHASE CITIZENS FINANCIAL GROUP STOCKS / SHARES
Lastly, commit to the stock. Pro Tip: Monitor the value of your stock to ensure you have a growing stock value and dividend pay-out. Regularly check the share price online to ensure your investment delivers a positive return on investment. You are now a proud owner of CITIZENS FINANCIAL GROUP stocks / shares.
5 Questions to ask yourself before purchasing any stocks or shares.
- Is it the best time to buy this stock / share?
- Should I buy CITIZENS FINANCIAL GROUP stocks / shares in the current economic climate?
- Can I afford to buy this stock / share?
- What is the forecast of the stock / share growth?
- What is the current price per earning ration on the stock / share?
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