Citizens Financial Group, Inc. (NYSE: CFG) has announced a significant increase in its share repurchase authorization, raising it to $1.5 billion. This represents a substantial increase of $1.2 billion from the prior authorization of $300 million, which was set in June 2024.
The decision to increase the share repurchase authorization reflects the company's confidence in its ability to deliver strong financial performance, support its customers, invest across its businesses, and drive forward organic growth initiatives while also providing attractive capital returns to shareholders.
As of March 31, 2025, Citizens Financial Group, Inc. reported total assets of $220.1 billion. The company operates in 14 states and the District of Columbia, offering a wide range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions.
The share repurchases may be executed in the open market or in privately negotiated transactions, including under rule 10b5-1 plans and accelerated share repurchase and other structured transactions.
The timing and exact amount of share repurchases will be subject to various factors, including the company’s capital position, financial performance, capital impacts of strategic initiatives, market conditions, and other regulatory considerations.
This move by Citizens Financial Group, Inc. indicates a proactive approach to capital allocation and a commitment to delivering value to its shareholders through capital returns.
Following these announcements, the company's shares moved -0.56%, and are now trading at a price of $41.17. For the full picture, make sure to review CITIZENS FINANCIAL GROUP INC/RI's 8-K report.
