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Citigroup Inc. (C)

NYSE - NYSE Delayed price. Currency in USD
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72.29+1.49 (+2.10%)
At close: 4:02PM EDT
72.28 -0.01 (-0.01%)
After hours: 07:59PM EDT
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  • 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.
  • 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.
  • 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.
  • 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!
  • 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
    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.
  • S
    StockGenius.com
    Big players are driving down share price. This stock would make a great Reddit play.
  • J
    John
    I think we are being played by the high-speed computers. Couple of peons sell a stock and the computer robots take off in that direction for awhile then go back in the other direction when a peon buys. With no news one way or the other they can do this all day long. Good news or bad news really puts them into high gear.

    Let's hope for good news soon, like good earnings.
  • E
    Edward
    2007 this was a $60 stock (pre-reverse). Today it's $7. Hmmmmm........
  • J
    Just
    The flow of upgrades just reflect improved macro environment mainly market rates. There is nothing idiosyncratic. There is no company comments on the status of transition. The problem of Citibank now is there is little to none announced developments that would help analyst adjust valuation models.
  • A
    Art
    If we can pause the I'm aYoke Pea Brain and Hate Banks convention....The past & how banks may or may not have benefitted from the INEVITABLE RATE RISE & Increase in NIM's is irrelevant! Citi is worth buying because these circumstances WILL TRANSPIRE and your getting to buy a company that books for 91.00 thats selling for 70.....PERIOD!!
  • J
    Just
    Sold all my oil exposure. Speculators have been buying oil futures above 100$ per barrel for the last month or so. To me it is excessive risk taking and close to top run in oil. Readying cash for financials and idustrials both in tech and value industries. Still avoiding overvalued social networking and internet communication businesses. In internet and networking China looks attractive but will wait till the end of year as Trump induced law requires US asset managers to digest China holdings.
  • C
    C. Ray
    The ugly truth is Jane needs to show performance and the results need to be reflected on the stock price or she and Mark need to be terminated tomorrow. No dilly dallying around just the truth and let the chips fall where they may. You do a good job you get a bonus you do a poor job you are terminated. No more tap dancing around the problems. No more "well it's going to be another hard quarter and then take your bonus and disappear until the next quarter. If She continues to do the same things that Corbat did you will get the same poor results.
  • t
    tony
    C has the MM who sell huge options every month and week.
    10/15 is a monthly option expiation and 60000 call options on $70 is there to be expired.
    MMs will try to keep this down around $70.00 not have to cover after expiration every week and month.
    That's why C plummet after earning most of time, whether the ER was good or not.
  • t
    tony
    Jane should keep her promise to buy back Citi shares till it reach to it's market value.That's only way this #$%$ moving back up to $80.00.
  • D
    Daniil
    where is she going?!! All banks 6 months + 13, +15 + 20%. And what about this one? It just falls with everyone, but does not grow with everyone (5 months in it, frozen just tightly.
    Does she know what growth (C) is .....?
  • B
    Brent
    Lush profits equal more share repurchases below book. Incredible. Buy.
  • A
    Andre
    Very disappointing Earnings Call this morning. Increasing expenses (high single digits) vs other major banks; Bofa expenses was flat this quarter for example. Losing market share on Credit Cards business rapidly. A new bonus plan for Executives worse pay in Cash not on stock performance. Lost Google Pay accounts on digital initiative. A CEO who sounds like she celebrated and partied the entire last night. She sounds like in an amazing hangover.
  • R
    Rami
    So many are underestimating the benefit of buybacks at this deep discount to TBV.