Citizens Financial Group (CFG) saw its stock soar 5% in intraday trading on Thursday after the company reported better-than-expected second-quarter earnings and provided a positive outlook for the rest of the year. The regional bank's strong performance was driven by higher fee income and improved net interest income.

For the quarter ended June 30, Citizens Financial reported earnings per share of $0.92, surpassing the analyst consensus estimate of $0.88. This represents a significant 12.2% increase from $0.82 per share in the same period last year. The company's quarterly revenue also beat expectations, coming in at $2.037 billion, up 3.77% year-over-year and ahead of the $2.008 billion analyst estimate.

Chairman and CEO Bruce Van Saun highlighted the company's strong performance, noting, "We saw some sizable M&A advisory fees push out to July, but offset that with strong performance across other fee categories." The bank reported a 17% increase in wealth fees, reflecting growth in its private banking unit. Additionally, Citizens Financial's outlook remains positive, with the company expecting Q3 net interest income to be up about 3-4% compared to Q2. Management also reaffirmed their comfort with the full-year 2025 guidance provided in January, further boosting investor confidence.