Citizens Financial Group, Inc. (NYSE:CFG) reported first-quarter results on Thursday that came in ahead of market expectations, with net income reaching $517 million and earnings per share of $1.13, surpassing the $1.09 forecast by analysts. Revenue totaled $2.17 billion, slightly above the consensus estimate of $2.16 billion.
Shares of the banking group rose 0.89% in pre-market trading following the announcement.
Compared to the same period last year, first-quarter earnings increased by 47%, while net income grew by 39%.
The company reported positive operating leverage of 7.2% year on year, alongside a sequential net interest margin expansion of 7 basis points and a 24 basis point improvement compared to the prior year. Citizens added that its balance sheet remained strong and that credit performance trends were stable.
“We are pleased to get off to a strong start in 2026 notwithstanding heightened geopolitical tensions and uncertainty in the macro environment,” said Chairman and CEO Bruce Van Saun. “Our financial results in a seasonally soft quarter were good, with year-over-year EPS growth of 47%, positive operating leverage of 7%, NIM expansion of 7 bps sequentially and 24 bps versus a year ago, and a robust balance sheet position.”
The group pointed to ongoing momentum in its Private Bank division and highlighted early progress in its “Reimagine the Bank” initiative. Van Saun said the company remains on track for a solid performance this year and is progressing toward its medium-term goals.
Citizens’ board declared a quarterly dividend of $0.46 per share, payable on May 14, 2026, to shareholders on record as of April 30, 2026.
As of March 31, 2026, Citizens Financial Group reported total assets of $227.9 billion. The Providence, Rhode Island-based bank operates around 1,000 branches across 14 states and the District of Columbia.