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Citigroup Inc. (C)

NYSE - NYSE Delayed price. Currency in USD
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67.61-1.25 (-1.82%)
At close: 4:02PM EDT
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  • R
    Rami
    Apparently a lot of people hedged with financials fearing the fed would have to move sooner. I think many feared worse from the fed and now are going back into growth/risk on mode. The irony is that inflation and higher rates are still there and the fed actually did not downplay that risk in their statement. At a forward PE of 8, a 3% dividend and with buyback restrictions about to be lifted- this is a screaming buy. The market increases volatility that has been created here is only going to help the trading business of the likes of Citigroup. In 1 month the headlines will be different for the banks and Citi will be well into its recovery back towards $80. Patience.
  • J
    John
    Whats the maximum dividend payout for Citi? Fed reserve website says that after June 30th banks can restore their capital plans. Long time holder of this stock. Looking at the current stock price it is clear the buybacks have done nothing for the shareholders. I'm sure it helped Corbat and the other execs achieve their internal targets ($$$$ in their pockets not ours). Anyway, I would like to see the dividend increased to the maximum allowable. I think the fed has allowed 35% payout ratio from the other banks. Citi is probably able to make $8 / year now. So that would seem to imply a $0.70 cents maximum quarterly dividend which would be a little over 4% yearly at the current price. Maybe a decent dividend would better support the stock price. So far I am not impressed by the new CEO.
  • J
    Just
    The Fed announcement could somewhat lift the performance in capital markets for banks. I think that there is a good chance trading revenue declines reported by major banks could be better than expected as the quarter ends. Historically changes in Fed policy have triggered increased activities in markets. While current change could be favorable for the industry, bank stocks are still driven most of the time by market beta quants. If market corrects it could be difficult for bank stocks to move higher. Nevertheless some outperformance should be expected.

    For Citi it is hardly a major benefit as bank is still in the early stages of strategy refresh. On top investors and analysts have little data on how executive team is going to perform on strategic and execution plans. Nevertheless, if revealed strategy and plan boost market sentiment, the stock price could reverse fast even with increased cost and declining revenue forecast.
  • T
    Todd
    Fed announced rate hikes today for 2023, which will lift the banking sector and will certainly send this over 100. IMO the rate hikes will come before 2023 as soon as the FED realizes inflation is an issue, which it is going to sooner rather than later.
  • r
    ricasanc
    c -3.64% , -12.91% in 10 days, RSI 22.58, volume more than 2X average volume, us10y -3.70% vix @17

    wfc -6.06%
    bac-4.37%
    jpm-2.89%
    ms-3.50%
    gs -2.56%
  • m
    man
    Normally, the bottom is 68.0 - 67.8
    This seems a little bit over-sold, $88 will be the next target.
    This is the time to buy and hold now.
  • M
    Mark
    Funny how banks pre announcement of lower trading revenues. Probably with all the bearish talk and sell off in bank stocks alone it probably picks up their trading revenue at the end of the qtr. Here. The bashing of stocks and inflation talk, the fed talk, bashing on CNBC, Bloomberg. Probably bring their trading revenues up. Citi now sporting a 3% dividend yield. I guess you don't want to over promise. If Citi passes stress tests, has a decent capital plan and clarity of strategy going forward, this look like a decent price with a 3% dividend and improving economy. Commodities coming down as they were too far ahead of wage inflation. 80 I guess was too high, most all the banks were priced too high before open economy earnings, but with decent guidance on things mentioned above hoping this is a base. Down 11 days in a row. There's not a credit crisis. Looks oversold, or should bottom here. On stress tests, earnings, capitol plans, if positive hoping we bounce back to 75. I don't see this current stock price with over 8 dollars per share in earnings. Unless that changes. We will see . Glta
  • J
    John
    This would be the time and day for management to step in and do some of that serious buying they've talked about, before some of the loyal, long term shareholders start bailing.
  • J
    Just
    On industry weakness I will add to my financial holdings at the moment only one name - Goldman. The bank is the ultimate competitor when it comes to capital markets.
  • E
    Ernesto
    C is just an act of faith (faith in distante earnings).
    I'll never understand how some holders r still keeping faith on C.
    Ex rev split this bank is a 6 to 8 $ paper. And before 2008 was 50+$.
    Personally not adversely impacted cos basically i started with C by mid march 2009. Do not know exactly my avg but guess around 2$ or max. 3$ (20 to 30$ after rev split).
    But after 11 (eleven !!!!!) years I'm starting to feel fed up with C and mainly with the governance of C. Or anyone believes that JF would solve deeply root problems overnight. What's more, may be she's been part of the gang for many years and so part of the problem.
    C has been trading at discount to peers for good and very good reasons.
    glta
    Al
  • R
    Rami
    I can’t believe we went this low. I was clearly wrong on the potential reaction to this news. Of course I wish I had sold at $80 and bought back in at $68. At this point we wait for the rational to return.
  • J
    JEFFC
    So.........I suppose with the news they released today and all the money they're going to be spending over the next several QTRS. that when CCAR results are released at the end of the month that they won't be increasing their Dividend and their buybacks?
  • R
    Rami
    Where will Citi share price be in 1 month. Where will it be on Monday July 19th. Place your predictions here.
  • r
    ricasanc
    At least C is moving today like their peers , REvlon problem cost the bank 400 millions fined plus 500 millions that refused to return plus Corbat head plus higher cost for improvement risk management plus stock price. Huge problem for a wire transfer error,
  • r
    ricasanc
    The dust with settle until the midle of next week more pain to come, cyclical on trouble,
  • r
    ricasanc
    RSI 25, high volume, , more red days until the trend change and the buy signal trigger
  • P
    Patrick
    So, the Fed moves up the timeline for raising rates and we drop? And buybacks resume here soon, and we drop. Well, at least the shares will be cheaper to buy. With the numbers, something’s got to give here soon.
  • m
    muenchen
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  • M
    Michael
    the good news, first time in a while that C dropped less than the XLF SPDR; the bad news, the XLF SPDR is still dropping...
  • A
    Alex
    Looks like my $64-65 price target to buy is coming faster than I thought.
    I expected Aug-Sept.