C - Citigroup Inc.
After hours:
| Previous close | 44.23 |
| Open | 44.46 |
| Bid | 44.60 x 1800 |
| Ask | 44.74 x 900 |
| Day's range | 43.99 - 44.65 |
| 52-week range | 40.01 - 54.56 |
| Volume | |
| Avg. volume | 19,190,914 |
| Market cap | 86.825B |
| Beta (5Y monthly) | 1.56 |
| PE ratio (TTM) | 6.13 |
| EPS (TTM) | 7.28 |
| Earnings date | 14 Jul 2023 |
| Forward dividend & yield | 2.04 (4.57%) |
| Ex-dividend date | 28 Apr 2023 |
| 1y target est | 57.31 |
Motley FoolCitigroup's Transformation Plan Takes a Disappointing Turn. Is the Investment Thesis Still Intact?
Since the beginning of 2021, Citigroup (NYSE: C) has been working on a multiyear plan to modernize and simplify the bank, focus on better-performing businesses, and ultimately boost returns, which management hopes will lead to a higher valuation and stock price. A key part of this plan had been selling the consumer, small business, and middle-market banking arm in Citigroup's Mexican subsidiary, Citibanamex, which has been a high-performing business. Citigroup has been divesting most of its international consumer banking franchises that lack adequate scale.
ReutersMexico president eyes 'half' of Citi unit amid IPO plan
Mexican President Andres Manuel Lopez Obrador on Friday said the government could acquire up to half of the Mexican unit of Citigroup after the U.S. bank announced plans this week to pursue an initial public offering of the business. Citi said Wednesday it was abandoning earlier plans for a sale of its Mexican unit, known as Banamex, for an IPO, prompting Lopez Obrador to announce that the government could invest in the business and had up to $3 billion to do so. The president, who said the government had expected to earn around $2 billion in taxes from the estimated $7 billion sale of Banamex, returned on Friday to the possibility of taking a large stake alongside Mexican shareholders.
BloombergOil Snaps Three-Day Rally After Russia Says OPEC+ Will Stay Put
(Bloomberg) -- Oil fell the most since early May after Russia downplayed the likelihood of another OPEC+ production cut.Most Read from BloombergCathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion SurgeEmerging US Debt Deal Would Raise Limit, Cap Spending for Two YearsApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17JPMorgan Tells 1,000 First Republic Employees They'll Lose Their JobsSingapore Dollar at Record High Versus Ringgit on China WorriesThe Organization of Petrole
ZacksCitigroup (C) Plans Mexico Banamex IPO, To Resume Buybacks in Q2
Citigroup's (C) IPO of its Banamex business in Mexico is expected to occur in 2025. Share buybacks, paused due to sale uncertainty, will restart in Q2, albeit at moderate levels.
ZacksBank of America (BAC) Plans to Remove 40 IB Positions in Asia
Bank of America (BAC) plans to eliminate nearly 40 positions in Asia's IB division as worsening macroeconomic conditions continue to hamper deal making in the region. The affected employees have been asked to apply for roles in other units.
ZacksHSBC, Citi, 3 Others Likely to be Fined for UK Bond Collusion
Citi (C), Deutsche Bank (DB), HSBC, Morgan Stanley (MS) and Royal Bank of Canada (RY) have allegedly conspired in chat rooms to swap sensitive information on UK bonds between 2009 and 2013.
BloombergWho's German Larrea? The Billionaire in the Crosshairs of AMLO
(Bloomberg) -- German Larrea Mota Velasco, the elusive billionaire who inherited and expanded a mining fortune, is suddenly Exhibit A for the difficulties of doing business in Mexico under an unpredictable president.Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car Ro
BloombergCiti’s $7 Billion Banamex Sale Scuttled as AMLO Intervenes
(Bloomberg) -- Citigroup Inc. spent 16 months preparing its Banamex unit for a sale that ultimately fizzled after meddling by Mexican President Andres Manuel Lopez Obrador. Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car RoofFirst Republic’s $35 Million Banker Outea
Motley FoolCitigroup Plans Spin-out, IPO of Mexico-based Banamex
One way or another, Citigroup is ready to bid adiós to its Mexico-based Banamex unit. After an attempt to sell Banamex proved fruitless, Citigroup...
BloombergCiti Drops $7 Billion Banamex Sale That Drew AMLO Scrutiny
(Bloomberg) -- Citigroup Inc. plans to sell shares of its Banamex unit in an initial public offering, ending talks for a potential $7 billion divestiture to a local buyer in a deal that faced complications from Mexico’s president.Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers
BloombergCopper Gripped by China Fears as Prices Plunge Below $8,000
(Bloomberg) -- Copper fell below $8,000 a ton for the first time in six months as investors cool on the prospects for a robust economic recovery in China this year.Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car RoofLula Lashes Out and Sends Warning to Central Bankers EverywhereMcCarthy, Graves Signal Impasse in White House
Yahoo Finance VideoCiti, Petco, Abercrombie & Fitch: Trending stocks
Yahoo Finance markets contributor Remy Blaire discusses trending stocks, including Citigroup announcing it will pursue an IPO for Banamex, Petco stock falling on soft guidance, and Abercrombie & Fitch shares rising after its Q1 earnings beat.
BloombergAMLO Says Mexico Could Offer $3 Billion For a Stake in Banamex
(Bloomberg) -- Citigroup Inc.’s Banamex “could represent a good opportunity” for Mexico to own a bank, President Andres Manuel Lopez Obrador said Wednesday after the US bank announced that it would halt a direct sale of the unit. Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchMcCarthy, Graves Signal Impasse in White House Debt TalksLula Lashes Out and Sends Warning to Central Bankers Everywher
The GuardianMajor banks shared sensitive bonds information in online chats, CMA finds
Traders at five banks found to have discussed British government bond trading between 2009 and 2013
ReutersCitigroup scraps Mexico unit sale, will pursue IPO instead
Citigroup Inc scrapped a $7-billion sale of its Mexican consumer unit and will list it instead, in a surprise move that delays the bank's overhaul and will likely feed into investor anxiety about the country's leftist president. Citi said it plans to list the business, called Banamex, in 2025 and resume a "modest level of share buybacks" this quarter. The bank is considering a dual stock listing, possibly in Mexico City and New York, for the unit, two sources familiar with the matter said.
Business WireCiti to Pursue Initial Public Offering of Its Consumer, Small Business and Middle Market Banking Operations in Mexico as It Executes Strategy to Simplify Firm and Deliver Value to Shareholders
NEW YORK, May 24, 2023--Citi today announced it will pursue an initial public offering (IPO) of its consumer, small business and middle-market banking operations in Mexico (the "Business") following the planned separation of its leading institutional business that will remain part of Citi. As previously disclosed, Citi had been pursuing a dual process to exit the Business, including preparation for a possible IPO, with a commitment to deliver maximum value to its shareholders.
ReutersMexico government open to buying Citigroup's Banamex
Mexican President Andres Manuel Lopez Obrador's administration is studying the possibility of buying a majority of shares in Citigroup's local retail unit known as Banamex, according to a government statement published on Tuesday. Buying it would be "good business," Lopez Obrador said in a press conference earlier, when asked about rumors that one of the bidders, Grupo Mexico's owner German Larrea, was dropping out of the process amid a dispute with the government. Lopez Obrador said he thought about the possibility of creating a public-private association with U.S.-based Citigroup to operate the bank after hearing about Larrea's alleged withdrawal.
Simply Wall St.Citigroup (NYSE:C) shareholders have endured a 21% loss from investing in the stock five years ago
For many, the main point of investing is to generate higher returns than the overall market. But even the best stock...
Business WireCiti CEO Jane Fraser to Present at Bernstein’s 39th Annual Strategic Decisions Conference
NEW YORK, May 19, 2023--Jane Fraser, Chief Executive Officer of Citi, will present at Bernstein’s 39th Annual Strategic Decisions Conference on Friday, June 2. The presentation is expected to begin at approximately 11:00 a.m. (Eastern). A live webcast will be available at http://www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.
Business WireCitigroup Announces $1.25 Billion Redemption of 4.044% Fixed Rate / Floating Rate Notes due 2024 and $1.0 Billion Redemption of Floating Rate Notes due 2024
NEW YORK, May 17, 2023--Citigroup Inc. is announcing the redemption, in whole, constituting $1,250,000,000 of its 4.044% Fixed Rate / Floating Rate Notes due 2024 (the "fixed rate / floating rate notes") (ISIN: US172967LZ20), and the redemption, in whole, constituting $1,000,000,000 of its Floating Rate Notes due 2024 (the "floating rate notes" and together with the fixed rate / floating rate notes, the "notes") (ISIN: US172967MA69).
BloombergDebt-Limit Talks to Intensify as Biden Set to Depart for Japan
(Bloomberg) -- Debt-ceiling talks between White House and congressional aides are set to intensify as negotiators seek a framework agreement for Joe Biden and House Speaker Kevin McCarthy to review upon the president’s return from a truncated trip to Asia.Most Read from BloombergHere’s How Much Wealth You Need to Join the Richest 1% GloballyMercedes Sets Out to Make Sexy Vans With Yacht-Like InteriorsJPMorgan Asset Says Markets Are Right to Bet on US Rate CutsDebt-Limit Talks to Intensify as Bid
ZacksMorgan Stanley (MS) Plans to Cut 7% of Asia-Pacific IB Jobs
A significant slowdown in IB business prompts Morgan Stanley (MS) to cut almost 7% of jobs in the Asia-Pacific region.
ZacksCitigroup Inc. (C) Is a Trending Stock: Facts to Know Before Betting on It
Citigroup (C) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Yahoo FinanceWarren Buffett sells stakes in two banks, buys into Capital One
The Oracle of Omaha has made it clear that he is still cautious about holding many bank stocks.
