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Citizens Financial sees Q4 NII up 1.5%-2.5%, sequentially

Sees Q4: NIM up ~ 5 bps; spot loans up slightly. Sees noninterest income up mid to high single digits; Non interest expense up ~2%; Net charge-offs broadly stable; CET1 ratio broadly stable; $200M-$300M in share repurchases; Tax rate ~ 20%. Assumes 25 bps Fed rate cut in November and December with YE2024 Fed funds target of 4.50%. Impact from Notable items was lower in 3Q; expect impact on 4Q reported results to be close to zero. Comments taken from investor presentation slides.

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