Citizens Financial Group Invests $35.5 Million in Cisco Systems

Citizens Financial Group Inc. RI recently invested $35.53 million in Cisco Systems, Inc., purchasing 302,529 shares of its stock.

The investment is part of a larger trend of institutional investors buying into the network equipment provider's growth prospects.

Cisco reported record fiscal fourth-quarter revenue of about $17.3 billion, up 18% year over year, and non-GAAP EPS of $1.22, exceeding analysts' consensus estimates.