- Strong fee income helped offset sluggish spread income and drive a nice pre-provision profit beat for the fourth quarter.
- Citizens has followed through on its pledge to build a stronger NY/NJ/Philly banking franchise, as well as bulking up its fee-generating businesses.
- Management's efforts to improve customer satisfaction and loyalty will soon be tested, as improved deposit betas will be key to better rate sensitivity.
- With core earnings growth potential above 4%, Citizens looks priced to generate a double-digit return from here and is well worth a look today.
For further details see:
Citizens Financial Undervalued Ahead Of What Should Be Further Positive Transformation