BUZZ-Citizens Financial falls after lower Q1 profit

Reuters
17 Apr
BUZZ-Citizens Financial falls after lower Q1 profit

** Citizens Financial's CFG.N shares down 1.1% at $35.72

** CFG reports a fall in Q1 profit, hurt by lower interest income

** Citizens reports Q1 adjusted earnings per share of 77 cents, compared with 79 cents per share a year ago

** CFG's Q1 net interest income falls $1.39 bln from $1.44 bln a year earlier due to a decline in average interest-earning assets

** Citizens decreased its provision for credit losses to $153 mln in the first quarter from $171 mln a year earlier

** 11 of 21 brokerages rate the stock "buy" or higher, 10 "hold"; their median PT is $49.50 — LSEG data

** Including session's moves, stock down ~18.3% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))

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