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Citigroup Inc. (C)

NYSE - Nasdaq Real Time Price. Currency in USD
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69.83+0.04 (+0.06%)
As of 11:21AM EDT. Market open.
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  • b
    bruce
    CFRA RAISES OPINION ON SHARES OF CITIGROUP INC. TO BUY FROM HOLD
    4:24 pm ET April 20, 2021 (CFRA) Print
    After further review, we think current share price weakness is an enhanced buying opportunity given the V-shaped U.S. economy, strength in Asia markets, and a healthy rebound of the consumer in 2H of 2021. We believe further restructuring by a new CEO may lead to higher and sustainable profitability. We raise our target price by $7.00 to $85,
    Bullish
  • J
    Just
    This is what should have expected. In the market driven by quants and ETFs such selloff days are hard to forecast. Nevertheless the massive run in bank stocks as part of what they call value or reopen trade should come to some sort of corrective move on technical overbought thesis or which more important on profit taking. Financials have attracted so much money from market forces that trade on something else rather than company or industry fundamentals. Sooner or later market volatility will kick in and drive prices in hard to explain direction. Banks are still strong and were strong even during pandemic. However market expectations indicated disaster fro real economy and banks followed as cyclicals. To me it was amazing why market professionals propel technology valuations to unsustainable highs if real economy indeed was in trouble. Who needs Amazon, Apple, Facebook or Netflix if people had no money to buy something or pay for communications and streaming services. Consumer consumption almost came to a complete stop with exception of essentials. It was clear that government would save the economy at any cost. It was real economy not virtual economy that saved us. It was real economy that was supplying us with food, gas, drugs and materials. People could live without smart phones and tv streaming but not without food and water, drugs and energy.
    As of Citi it is too early get overly bullish on a bank. The updated strategy has still to be revealed. Some actions and provided color on moves in wealth management and consumer banking exits are not sufficient to judge future operational success. Given intense competition in all banking business lines Citi may fail to see sustained operating leverage in it's push into Asian wealth. The management believes that strategy should be linked to digitization and it's global technology platform to serve customers. Uptimately it is not the platform , it is the quality of products and services that are offered on this platform that could drive higher monetization rates from client activities. So far Citi talks a lot about its global footprint and platform penetration but it was there even before with so far very moderate benefits to top and bottom lines on sustainable level. What is unique and special about Citi products and services have still to play through.
  • a
    andrew
    C is exiting commercial banking in Asia and focusing on wealth management in the 4 biggest Asian money centers. Essentially jettisoning low margin business in Asia . YOY deposits were up but Net interest income down because of shrinking Net interest margins ( the spread between what a bank borrows at and what it loans money for) . C returned $2.6 billion to shareholders during the quarter . $1.6 billion in buybacks and $1 billion in dividends . Common Equity Tier 1 Capital figure was 11.7% up from 11.1% YOY ( this is a number the Fed uses to measure liquidity ). Backing out the reserve release from EPS leaves about $2 per share EPs from operations . Improving economic activity bodes well for C going forward (and banking in general). As the economy picks up , the yield curve will steepen and interest income margins will expand for all banks as a result . The yield steepens when markets (and the Fed) expect economic growth , and economic growth usually leads to inflation(and inflation leads to rate hikes ) . The Fed targets about 3% inflation. C bought back 23million shares amounting to 1% of outstanding shares and if annualized will be about 4% by the end of 2021. If the economy continues to recover ,C is still a good choice . Headwinds , the reorg of the company will take a year or so and a new wave of the pandemic could again slow the economy. At this juncture , all banks seem to trade on movements in the yield curve . Interest rates go up , bank stocks go up and vise versa .Or perhaps the lack of enthusiasm after stellar earnings is due to earnings being reliant on reserves for bad loans being released into EPS reporting. Excluding reserve releases , C's fundamental business is improving from a better economy. Add to that the reorganization that will improve operating efficiencies and profitability . What do you have ? You have a turn around story within a good economic environment , perfect timing
  • R
    Ricardo
    4 days red since earnigs after the big hit C took yesterday I hope today we change the trend
  • B
    Brent
    Street now estimating $8.25 eps for 2021. How we're still under $80 is one helluva mystery. Buy.
  • R
    Rami
    Citi rationally should be trading on the $78-$85 range right now. Consider yourself lucky getting it on sale. $100 in 18 months.
  • b
    bossung
    If you’re a day trader, you should definitely check out (http://Fairstox.com). They send a watchlist covering the top pre-market movers every day before the open. It’s a great way to pick out potential trades for the day.
  • R
    Rami
    Citi will make $9.25 in 2022 and trade at $100 in 18 months. Looking at 50% return in the next 18 months- load up!
  • R
    Rami
    Every 3-4 months you get this opportunity here. I hope you are taking advantage as I hope you took advantage at $40.
  • T
    Toolong
    Citigroup Asia to shift focus to 'wealthy entrepreneurs'

    Citigroup Inc.'s Asian branch is going to move its focus on serving "the rising numbers of wealthy entrepreneurs and their businesses in the region" as it is to halt most of its consumer banking operations across the continent, the department's Chief Executive Officer (CEO) Peter Babej told The Wall Street Journal in an interview published on Saturday.
  • J
    Jack Rothaus
    Oppenheimer adjusts their price target to $123 from $117 with an out perform rating. I would expect a better response from the stock.
  • m
    mead2014
    Can't Citi find some one in the Middle East or Africa to lead operations in that area? Perhaps the new CEO knows better.

    British-born Philip Drury, who has been leading Citi's banking, capital markets and advisory business across Europe, the Middle East and Africa since 2018, will quit London to take on a new global role as Tech & Comms' head out of San Francisco.
  • R
    Rami
    In June Citi will be able to increase quarterly share buybacks to 50 million plus shares. In 1 year shares outstanding will be reduced by 10%. Conservatively Citi will be at $100 in 18 months.
  • R
    Ricardo
    C falling below its 50DMA (70.14) to one month low
    WFC pulling back from a 14 month high
    JPM alling below its 50DMA (150.99) to one month low
  • J
    John
    Awhile back analysts were talking about Citi being a $100 stock. Today, after a surprising and fantastic earnings report the stock, as I post, is up only a few pennies. If this report doesn't propel Citi to record highs, what will?
  • R
    Rami
    Usually 48 hours after the m earnings report the buy backs start back up. Monday I expect Citi starts buying back about a million shares a day. Will be a nice steady boost to TBV at this valuation.
  • m
    mead2014
    As I said 14 days ago, C will likely head back down to $40 as it has done for over 12 years. Always buy near $40 and hold for dividend.
  • S
    Steve
    UBS adjusts Citigroup price target to $98 from $92.
  • S
    Sparkvark
    Halftime Report - Mike Mayo, #1 ranked analyst in the banking industry, said today that "although the banks have performed phenomenally, well out pacing the S&P 500, they still underperformed by over 15% points from the start of last year. There's still more to go for the catch up trade for banks. 3 months ago the stocks ran up before earnings, then sold off, then they went onto to reach new 52 week highs. His 1 year targets are significantly higher than they are currently.

    A lot is already baked into the current SPs, but what's not baked in is a better yield curve, potential for better loan growth, potential for better spread revenues, and the potential for the industry to reach it's best efficiency in its history over the next several years. Everyone wants to date the bank stocks, but no one wants to marry them for the long term." He has an overweight rating on all the major stocks but MS. His OW price target on Citi is $85"

    Overall, he and Jamie Diamond are very bullish on banks for the next 3 years. His mention of efficiency is what we're expecting from Jane Fraiser. So it sounds like banks will sell off, despite good earnings, then recover. Til then, keep the dividends coming and a dividend increase would always be nice.
  • C
    C. Ray
    If you continue to do the same as the past CEO did you should expect the same results which was not good, and that is why he is not here. Now the new CEO is fixing his problems. Citi will move from a .8 multiple up to a 1.5 just cleaning up some of his mess this year.