Good analysis. I believe Citi is one of the only major banks that is trading below tangible book value as well.
Good to see a real non-spam poster on this board.
Citigroup is currently above the Basel III capital requirements by a large margin. They have stated in the recent press release that they want to maintain Basel III + 0.5. This implies that they are currently 0.6% of risk weighted assets over capitalized. The total Risk Weighted Assets at the end of 2013 was $1.198T. $1.198T * 0.006 = $7.188B that they can return. Being that they are already now meeting Basel III and don't have to add reserves, all their earnings should be available for dividend and/or buyback. The are predicted to earn around $16B in 2014.
Buyback of $10B for 2014
Dividend $6B per year = $2.00 / share ($0.50 per quarter)
Stock price end of month if Corbat did in fact "man up" and ask the fed for the amounts I came up with - $57.
We have been waiting too long for Citi to return capital. What I would like to know is how much did Pandit (the bandit) ask for back in 2012? They "failed" the test by a tiny amount. Has this info ever been released? I have a feeling he asked for a lot, based on the fact that JPM asked for and received the okay for a $15B buyback. Citi has had 2 full years of almost ZERO dividend now and is flush with cash.
Sentiment: Strong Buy
Oh stockypoo...you're so silly. Sometimes I just wanna smooch you!
That looks like a "T". What's your point, you dingle berry atheist?
No. There is no after life. There's just nothing, just like there was no "before life" for the 14 billion years (or is it 6000 years to you bible thumping creationists?) before you were born.
Enjoy it while you can.
You believe in a devil dressed as jesus???
You religious wackos believe in some weird sheet. A devil dressed as jesus, a bible with no knowledge of the physical universe, no wonder you people scare the hades out of people in the center and we get these far left nutcases elected to office to feck up the country.
This reminds me...
I mistakenly went to a religious play one night at an amphitheater located within miles of fossilized dinosaur tracks I was exploring one time because the headline claimed it would reconcile the existence of dinosaurs and their not being mentioned in the bible.
There was no reconciliation or even a mention of dinosaurs in the play, so it was deceptive from the start as all religions are, but the funniest thing was every time the character playing the devil (yes what religious play "explaining the evolution of dinosaurs" is complete without a devil) came on stage, the whole crowd hissed and booed at it.
I couldn't believe it. I was surrounded by a bunch of child minded science snubbing mental patients. Scary sheet. Like being surrounded by zombies if they also weren't fiction.
"Since when does a Cross look like a T"
Since when doesn't a cross look like a T?
Here's a test. Assuming it comes out right, is the following a letter of the alphabet or a cross? (Ignore the dots as well as the voices in your head.)