Covid-19 Forces Another Auto Lender to Cut Back

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Citizens Financial Intrinsic Value – Covid-19 has forced another auto lender to cut back on its lending. Citizens ($NYSE:CFG) One Auto Finance’s portfolio shrunk 5.1% sequentially in the third quarter as the bank continued a planned pullback on auto lending. This retreat by Citizens One Auto Finance is just the latest in a string of auto lenders who have been forced to cut back on their lending due to the Covid-19 pandemic. The auto industry has been hit hard by the Covid-19 pandemic, with sales plummeting and production grinding to a halt.

As a result, many auto lenders have been forced to cut back on their lending. Citizens One Auto Finance is the latest lender to join this trend, with its portfolio shrinking 5.1% in the third quarter. This pullback by Citizens One Auto Finance is just the latest in a string of auto lenders who have been forced to cut back on their lending due to the Covid-19 pandemic. With the auto industry in a slump, it is likely that more lenders will follow suit in the coming months.

Share Price

On Thursday, CITIZENS FINANCIAL stock opened at $36.9 and closed at $35.9, down by 2.2% from its previous closing price of 36.7. Right now, media sentiment towards the company is mostly positive. However, the company’s stock price has been volatile in recent months, and it remains to be seen how the pandemic will impact its business in the long term. Live Quote…

About the Company

VI Analysis – Citizens Financial Intrinsic Value Calculator

Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, National Association and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. The company operates through three segments: Retail Banking, Commercial Banking, and Consumer Finance. It offers a range of deposit products, including checking, money market, and savings accounts, as well as certificates of deposit. The company also provides residential mortgage loans, home equity lines of credit, and personal and small business loans; and commercial mortgage loans, commercial and industrial loans, lines of credit, and equipment financing. In addition, it offers credit cards, personal lines and loans, student loans, and other consumer financing products. It also operates online at citizensbank.com and through mobile banking applications. Citizens Financial Group’s strong fundamentals reflect its long term potential. The intrinsic value of Citizens Financial Group’s stock is around $28.5, calculated by VI Line. Now Citizens Financial Group’s stock is traded at $35.9, overvalued by 26%. More…

VI Peers

In recent years, the banking industry has become increasingly competitive. This is especially true for regional banks, which are facing increased competition from larger banks as well as online-only banks. Citizens Financial Group is one of the largest regional banks in the United States, with over $150 billion in assets. The company operates in more than 20 states and has over 1,200 branches. Its main competitors are NBT Bancorp, Keiyo Bank, and Southern Missouri Bancorp. All three of these banks are smaller than Citizens, but they have been growing rapidly in recent years.

– NBT Bancorp Inc ($NASDAQ:NBTB)

NBT Bancorp Inc. is a financial holding company that operates through its subsidiaries, which include NBT Bank, NBT Insurance Agency, and Penn Square Partners. The company has a market capitalization of $1.84 billion as of 2022. NBT Bancorp is headquartered in Norwich, New York and has more than 160 branches across upstate New York, northwestern Vermont, western Massachusetts, and northeastern Pennsylvania. The company’s primary business activities include commercial banking, retail banking, and asset management.

– Keiyo Bank Ltd ($TSE:8544)

Keiyo Bank Ltd is a Japanese bank with a market cap of 62.52B as of 2022. The company has over 2,000 branches and provides banking services to individuals and businesses. Services include savings and checking accounts, loans, credit cards, and investment products.

– Southern Missouri Bancorp Inc ($NASDAQ:SMBC)

Southern Missouri Bancorp Inc is a bank holding company that operates through its subsidiary, Southern Bank. The company offers a range of banking services to clients in Missouri, Arkansas, and Tennessee. As of 2022, the company had a market cap of 499 million dollars.

Summary

Citizens Financial Group is one of the largest banks in the United States. It offers a full range of banking products and services, including personal and business banking, lending, and investment management. The company has been hit hard by the COVID-19 pandemic, as have many other banks. It has had to reduce its dividend and raise capital to stay afloat.

However, it remains a well-capitalized and well-run bank, and is likely to survive the pandemic relatively unscathed. For investors, Citizens Financial Group is an attractive option. It offers a dividend yield of nearly 5%, and its shares are currently trading at a discount to book value. The bank is also a leader in digital banking, which should help it grow in the years ahead.