Citizens Financial Group To Increase Buyback Authorization By $656M To $1.25B
Portfolio Pulse from Bill Haddad
Citizens Financial Group has announced an increase in its buyback authorization by $656 million, bringing the total to $1.25 billion.
June 28, 2024 | 8:38 pm
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POSITIVE IMPACT
Citizens Financial Group has increased its buyback authorization by $656 million, bringing the total to $1.25 billion. This move is likely to positively impact the stock price in the short term as buybacks reduce the number of shares outstanding, potentially increasing earnings per share.
The increase in buyback authorization indicates that the company is confident in its financial position and is looking to return value to shareholders. Buybacks typically reduce the number of shares outstanding, which can increase earnings per share and potentially boost the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100