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Citigroup Inc. (C-PK)

NYSE - NYSE Delayed price. Currency in USD
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28.14+0.05 (+0.18%)
At close: 4:00PM EDT
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  • J
    Just
    I just do not know how Jane is planning to grow business in such competitive landscape even in Asia. All the strategic points in presentation that she likes to refer to are good but management does not say how to accomplish them. Still investors should give her a chance. As she exits consumer businesses around the globe, it is hard to see how she plans to grow wealth and asset management as building new customer relationships and bring more wealth and assets under management through consumer and private banking could be illusive. In corporate W&A management Citi faces fierce competition even from domestic rivals like JPM, GS and MS. It is unclear why Citi's unique global digital platform could provide competitive advantage against other US investment banks with the same technology infrastructure and higher or similar quality investment products and services. It is hard to see what Jane has in mind as competition crusher. It sounds a little ideal without disclosure of execution lines along announced strategy. It is just hard to believe that global digital platform could grow business if you do not fill it up with high quality products and services. What is unique in Citi product and service offerings that competitors do not have? In North America Citi has lost rivalry in wealth and asset management and it is unlikely the bank gains market share any time soon. There is too much of unknown and unconvincing just general statements. Even the management urgency is not communicated to shareholders in a way to improve confidence.
  • R
    Ricardo
    "Citi limits noontime calls and meetings to fight office burnout"-Bloomberg News
    For real????? the stocks is below TBV and these is the only news , manage needs to start working
  • C
    C. Ray
    At this rate Jane is falling behind the other large banks 5% to 10% per week. Jane is really working hard for the stockholders. HAhaha
  • J
    Joseph
    This harmless quote from wacky Jim Cramer is probably responsible for the stocks decline today, in addition to Jane Fraser's uninspired leadership and conference call last week. Although Citigroup Inc’s (NYSE: C) numbers came in better than expected, the quarter still had “some issues,” he said. While the bank didn’t make much progress last quarter, there were no “real setbacks either.”
  • S
    Sailawa
    Jane Fraser : " We also continue to make progress refreshing our strategy. In addition to announcing the sale of our consumer business in Australia, we're deep in the second round for of bids for the remaining exit markets.". Second round! from transcript of conference call, I find that quite exciting! Buy this stock with both hands!
  • J
    John
    Jane and Mark probably just dollar cost averaging their quarterly stock option grants... Not in their best interest to have a high stock price. Even a broken clock is right twice daily. They may end up "lucking" themselves a fortune eventually. CEO's should be paid for PERFORMANCE! Not by their "wokeness" whatever that means. Start by clawing back the $500M from Revlon
  • J
    Just
    It is better than expected. Decline in FICC is much less than expected on a quarterly basis even as normalization is obvious YoY. ICG seems stable with growth both on QoQ and AoA. GCB is a drag but given the active exits will take time to stabilize performance there. North America shows improvements on economic recovery both in cards and retail which is quite welcome. International consumer is undergoing restructuring. It is hard for now to say that CEO is sleeping on a job. It will take time before investors will see some results of her efforts. Nevertheless, some visibility in trends that she is targeting could be seen in reported numbers.
  • R
    Rami
    Good time to start the buybacks back again at 11% below TBV. Hopefully 40-45 million shares bought back in Q4.
  • K
    Keef
    C is a drag in my portfolio along with MU . Getting tired of beating earnings and going nowhere. Seems to me there are better fish in the sea. You invest to make money not to watch it sit there. I'm probably going to Phase out my holdings and add elsewhere.
  • J
    Joseph
    I didn't listen to the conference call but I can only assume Jane Fraser was less than inspiring. She needs to be gone yesterday and the entire BOD that appointed her needs to be replaced. The stock failing to rise even after blow out earning, underscores investors' lack of confidence in her.
  • J
    Joseph
    All major bank stocks up consistent with the overall market except one. Must be the Jane Fraser effect.
  • E
    Edward
    They should be thinking about raising the dividend. Try $2.40.
  • E
    Edward
    Analysts estimates from 80s to 118 per share, liquidation value in the 90s….can’t get out of the low 70s. Seems like something isn’t working for this company. Time to make some changes and support the share holders. Buy back, buy back and buy back would be a good start.
  • R
    Rami
    I am amused how all the folks here who are declaring this dead suddenly change their tone when the shares jump 20%. All the complaining when you should be using this opportunity to accumulate shares at 12% below TBV.
  • S
    Sparkvark
    Get your popcorn ready, looks like we're (Citi and the rest of the majors) in intermission between Act 1 and Act 2. In this short video clip, Mike Mayo goes after Citi for not revealing bonuses to top execs and what targets they need to hit. He's also looking forward to Act 2 where we have loan growth, higher interest rates, and traditional banking revenues.

    https://www.bloomberg.com/news/videos/2021-10-12/citigroup-s-rigged-bonus-system-rewards-top-executives-mayo
  • C
    Cost
    I bought this last November for $42.62 so unlike a lot of you folks - I'm very happy with the stock performance. For whatever reason C is the Rodney Dangerfield of major bank stocks - more than half the time it's not even mentioned while everyone is focused first on the golden boy Dimon and then WFC and BAC. I'm getting a dividend of around 4.8% on my money while I wait for the "market" to get its head out of Tesla's and other darling stocks with ridiculous multiples rear end. And the gain is pretty nice as well!
  • o
    osulinnn
    Book value $92, it will be 120 sooner than you think.. C is not worse than WFC.

    By the way, I also own WFC.
  • C
    C. Ray
    So if you take the loan reserve money out then they missed their number. Fire Jane and Mark would be the right thing to do and get a real CEO and CFO and stop dilly dallying around.
  • J
    Just
    After seeing JPM report this morning it seems unlikely that Citi could show better performance in FICC. Rise in market rates has probably left banks unable to benefit in such short period of time.

    Another note has raised doubts by Wells Fargo analyst about executive compensation rewards. The Board compensation decision to executives provides incentives for regular job outright rather than for work with incremental operational improvements. The new CEO has been almost 8 months on job and shareholders still do not know what and when to expect from such management except some general statements about excellency and ongoing transition with lower revenue and higher expenses. While management acknowledges emergency, it at least resists to communicate it to shareholders through update of current status of transition. Seems like old management team under Corbat - general promises, updated strategic vision in 2022, failure on economy and market headwind excuses. Today JPM highlighted some strategic trends in its business - more branches in low to mid income demographics and expansion through digital channels to international consumer markets. Citi is on a path in an opposite direction - exit international consumer banking and cost savings through branch cuts and digitization. No wonder that revenue in GCB has been falling steadily and will fall further on exits.
  • C
    C. Ray
    So for the 4th Quarter what is Citi buyback? They are waiting on the FEDS to approve their plan and until then I take it that there is no buyback.