|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's range||67.16 - 68.21|
|52-week range||63.21 - 80.70|
|PE ratio (TTM)||N/A|
|Earnings date||13 Jul 2018|
|Forward dividend & yield||1.28 (1.93%)|
|1y target est||83.87|
Jun.20 -- Gerard Cassidy, head of bank equity research at RBC Capital Markets, and Catherine Mann, global chief economist at Citi Research, discuss expectations for the latest round of the Federal Reserve's bank stress tests and examine the health of U.S. banks. They speak on "Bloomberg Daybreak: Americas."
Citigroup (C) stock has declined 10.6% over the past six months and has risen 4.5% over the past year. The stock has underperformed peer banking stocks (XLF), as other bankers have reported strong trading and asset management growth. Citi’s trading primarily comprises debt-related income.
Banks (XLF) have improved their efficiency ratios by deploying funds in technology and reducing administrative costs. Citigroup (C) reported an efficiency ratio of 58.0% in the first quarter, in line with Q1 2017. On a sequential basis, the bank has seen a reserve release on its credit card portfolio.
In the first quarter, Goldman Sachs (GS) reported the highest growth in trading due to equities, currencies, and commodities trading. Citigroup (C) commands a majority of its trading income through debt-related offerings. As rate hikes have increased since 2017, an expectation of faster rate hikes led to a flight of capital from debt.
PetSmart Inc. lenders are looking to gain an edge in their dispute over the handling of Chewy.com assets by leading the choice of the next administrative agent now that Citigroup Inc. has quit the role, according to people with knowledge of the matter. Citigroup had been acting as PetSmart’s term loan agent, which plays a role in the way negotiations take place when borrowers and creditors disagree. If the original agent quits, PetSmart’s credit agreement gives term-loan lenders the right to name the successor, who could be friendlier to their claims, according to the people.
Citi today released certain disclosures required by the rules of the Federal Reserve Board and the Office of the Comptroller of the Currency in connection with the 2018 annual supervisory stress tests.
My screen for possible undervalued stocks -- what they sometimes describe on Wall Street as "cheap" -- is finding 4 bank stocks that come in under stated book value and which trade for unusually low price/earnings ratio. The big money center banking operation is trading at an 8% discount to book right now and the price/earnings ratio is 11. Citigroup has been persistently declining since it peaked in late January at 80 -- the price is now 68, a 15% drop in not quite 4 months.
Citi’s investment banking revenues have weakened in recent quarters, which is in line with the industry’s performance. Citigroup’s investment banking declined 10.0% on a lower number of closures in the quarter.
Credit offtake is a major driver for US banks (XLF) in 2018, as rate hikes have helped in rate spreads or margins. Banks with globally diversified offerings can garner credit growth in Europe, Middle East, and Asia. Major banks managed credit offtake growth of 5.0%–7.0% in 2017, and this growth can fall by 150–200 basis points in 2018.
Citigroup (C) focuses on its core banking performance, retail lending, and investment management in order to improve its operating performance. Citigroup has beaten its estimates in each of the past seven quarters. Citigroup is expected to post EPS of $1.57 in the second quarter.
John Gerspach, Chief Financial Officer, and Michael Verdeschi, Treasurer, will conduct the Citigroup second quarter 2018 Fixed Income Investor Review at 11:00 AM on Thursday, July 26, 2018.
Court filings: KPMG employees would receive bonuses if their engagements received no comments from inspectorsReutersFormer KPMG executives are on trial for obtaining confidential information about audit inspections. The auditor of some of the world’s largest banks including Citigroup, Credit Suisse and Deutsche Bank was tipped off before a regulator inspected them. It’s been previously reported that KPMG executives were able to extract from the regulator, the Public Company Accounting Oversight Board, confidential information ahead of inspections, and use that information to correct their work and at least in one instance, withdrawn an opinion.
A business at the heart of global commerce is about to get an upgrade in the form of an AI-powered assistant from J.P. Morgan.
Shares of Citigroup (C) are on the rise, following a vote of confidence from Deutsche Bank. Analyst Matt O-Connor upgraded Citi to Buy from Hold, and raised his price target by $2 to $76. He writes that ...
Deutsche Bank upgraded Citigroup shares to buy from hold, noting the stock could get a boost from beaten-down levels given upcoming stress test results and a better business environment.
ZURICH/LONDON (Reuters) - Swiss drugmaker Roche (ROG.S) is paying $2.4 billion (1.81 billion pounds) to buy the rest of Foundation Medicine (FMI) (FMI.O), raising its bet on the U.S. genomic profiling group's ability to personalise cancer care. The deal, backed by the boards of both companies, is worth $137 per share - a premium of 29 percent to FMI's closing price on Monday - valuing the Cambridge, Massachusetts-based company at $5.3 billion. It is the latest in a series of bolt-on acquisitions by Roche as the world's largest marker of cancer drugs seeks to tap into promising technology developed by biotech companies to drive future growth as its older drugs face competition.
The big bank stocks aren't having a great year, but there are plenty of opportunities beyond the largest names, says Dick Bove.
NEW YORK--(BUSINESSWIRE)-- Citi Private Bank ardently congratulates Fernando Alonso for his impressive win at The 24 Hours of Le Mans this past weekend. Mr. Alonso, who is also a two time Formula One World ...
Citi Private Bank ardently congratulates Fernando Alonso for his impressive win at The 24 Hours of Le Mans this past weekend.
Citigroup agreed Friday to pay $100 million to settle charges that its bankers manipulated an important interest rate used to price everything from credit cards to mortgages. It is the latest major bank to settle charges related to the manipulation of the London Interbank Offered Rate, better known as Libor. Citi will pay $100 million to the New York State Attorney General's office and 41 other states involved with the investigation, New York Attorney General Barbara Underwood said Friday.