Could Citi be buying back shares quitely right now?
Now, it looks like a perfect time for Citi to buy back shares. Reason #1: Depressed and under-valued PPS
Reason #2: The company is getting leaner, which translates to fewer non-cash assets and more cash accumulation on the balance sheet. When companies have excess cash in hand and don't have strong needs for capital spending, what do they do? They repurchase shares.
Reason #3: If the recovery is slow but a double-dip recession is unlikely, there is no guarantee that reinvesting retained earnings will create profit. So why wouldn't they buy back shares to increase EPS?