C - Citigroup Inc.
| Previous Close | 70.35 |
| Open | 70.01 |
| Bid | 69.68 x 3000 |
| Ask | 69.75 x 800 |
| Day's Range | 69.62 - 70.39 |
| 52 Week Range | 48.42 - 75.24 |
| Volume | 13,219,546 |
| Avg. Volume | 15,242,811 |
| Market Cap | 161.112B |
| Beta (3Y Monthly) | 1.77 |
| PE Ratio (TTM) | 10.42 |
| EPS (TTM) | 6.69 |
| Earnings Date | Jul 15, 2019 |
| Forward Dividend & Yield | 1.80 (2.89%) |
| Ex-Dividend Date | 2019-05-03 |
| 1y Target Est | 79.12 |
- CNBC Videos•yesterday
Cramer: Banks are doing better than thought and stocks are still cheap
Jim Cramer reviews the past week of bank earnings.
- TheStreet.com•2 days ago
Bank Earnings: Here's What We Know So Far
JPMorgan reported adjusted net income of $9.18 billion. Earnings per share of $1.20 handily beat estimates of $1.09. While Citigroup certainly isn't in any trouble, there does seem to be some stagnation.
- InvestorPlace•2 days ago
Bank of America Stock Is One Catalyst Away From Moving Higher
Bank of America (NYSE:BAC) dropped and then recovered in Tuesday trading following its earnings announcement. The Charlotte-based banking giant beat earnings estimates, but missed on revenue. This, along with a warning about slowing net interest income, hit BAC stock before it recovered later in the day. * 5 Dividend Stocks Perfect for Retirees Source: Shutterstock However, the quick move to pre-report levels may show underlying confidence in BAC. With a low multiple and double-digit profit growth set to continue, Bank of America stock looks poised for a breakout. BAC Stock Beat on Earnings, Fell Short on RevenueFor the first quarter, BAC reported its 16th consecutive beat on earnings. In Q1, the company earned 70 cents per share, or $7.3 billion. This beat estimates by 5 cents per share and came in ahead of the year-ago level of 62 cents per share. Consumer banking led the way as net income from that division rose 25% to $3 billion. Net income in its Global Wealth and Investment Management division also rose by 14%.However, other divisions saw slower profit growth or, in the case of Global Banking, an outright decline. Also, revenues of $23 billion fell short of the first quarter revenue level of $23.07 billion last year. Analysts had expected $23.3 billion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe disappointment did not end there. The company also acknowledged that net interest income would rise by only 3% this year. Net interest income increased by 6% in 2018. This news sent BAC stock falling by as much as 2.8% in morning trading. BAC Stock Recovered QuicklyHowever, the fact that the stock ended the day 0.13% higher shows underlying confidence in BAC. Since mid-January, the stock has mostly traded between $28 and $30 per share. The exception occurred in mid-March. BAC stock fell to as low as $26.67 per share when the Fed announced an intention to delay further rate increases for the year. Still, it recovered quickly to the previous range.Traders appear justified in keeping BAC stock at these levels. When looking at the overall picture, little reason exists to sell Bank of America stock. The current price-to-earnings (PE) ratio stands at around 11.5. At this price level, the PE falls to 9.3 on a forward basis. For this valuation, investors buy a company expected to increase profits by 9.5% this year and 10.8% in fiscal 2020.The improvements extend beyond BAC. JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) confirmed the strength of this sector in their recent earnings reports. Wells Fargo (NYSE:WFC) did not perform as well, but it continues to struggle with reputation issues. Goldman Sachs (NYSE:GS), which also offered mixed news in its report, depends more on investment banking. When Will BAC Stock Finally Rise?With BAC stock, the near-term questions involve when a breakout will occur and what will cause it? Since quarterly earnings did not offer a catalyst, predicting when becomes more difficult.If nothing else, rising profits and falling earnings multiples will eventually take BAC stock higher. Moreover, BAC will pay its investors to wait with dividends. BAC has increased its payout for five straight years now. This year's dividend of 60 cents per share yields about 2%. Hence, investors will receive a payout slightly above the current S&P 500 average of 1.85%. Also, if history serves as an indication, investors can expect the dividend to increase over time. Final Thoughts on BAC StockConditions remain in place for BAC stock to move higher. The question hinges on when? As predicted, earnings increased and beat estimates again. Also, despite disappointments in revenue and net interest income, the stock recovered quickly. Still, this leaves BAC stock rangebound and traders with no indication as to when it will break out. * 10 Best Stocks to Buy and Hold Forever Investors can buy now and earn a yield of about 2% on the dividend. Also, even if little else occurs, improving profits will force Bank of America stock to move higher at some point. However, until a catalyst appears, expect payouts and little else from BAC stock.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 Dividend Stocks Perfect for Retirees * 7 Reasons the Stock Market Rally Isn't Over Yet * 10 S&P 500 Stocks to Weather the Earnings Storm Compare Brokers The post Bank of America Stock Is One Catalyst Away From Moving Higher appeared first on InvestorPlace.
- Zacks•2 days ago
Texas Capital's (TCBI) Q1 Earnings Beat on Higher Revenues
Though Texas Capital Bancshares' (TCBI) Q1 performance reflects increase in revenues, as well as robust loan and deposit growth, higher expenses remain a concern.
- Investopedia•2 days ago
Health Care Tanks on Medicare-for-All Worries
Health care concerns could be oversold, and while consumers look good for banks, the yield curve remains a problem.
- Business Wire•2 days ago
Citigroup Declares Common Stock Dividend; Citigroup Declares Preferred Dividends
The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.45 per share, payable on May 24, 2019 to stockholders of record on May 6, 2019.
- TheStreet.com•3 days ago
Citigroup Dominates Wall Street With Least-Bad Results Amid Trading Slump
Trading of stocks, bonds, currencies and commodities is a volatile and tricky business, and Wall Street pros have to navigate markets by catering to client needs while also predicting the direction of prices. , the trading business is a major source of revenue that often represents the biggest and most unpredictable swing factor in each quarter's earnings.
- Zacks•3 days ago
Morgan Stanley (MS) Q1 Earnings & Revenues Beat, Stock Up
Amid slump in investment banking and trading, Morgan Stanley's (MS) Q1 earnings beat estimates driven by loan growth and lower expenses.
- Zacks•3 days ago
Zacks Earnings Trends Highlights: JPMorgan, Citigroup, Goldman Sachs and Wells Fargo
Zacks Earnings Trends Highlights: JPMorgan, Citigroup, Goldman Sachs and Wells Fargo
- InvestorPlace•3 days ago
Is JPMorgan Stock the Obvious Choice Among Large Banks?
JPMorgan (NYSE:JPM) reported its first-quarter results on Apr. 12. JPM stock gained almost 5% on the news. Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading TipsCitigroup (NYSE:C) announced mixed results before the markets opened on Monday. Its share price barely moved. As far as large bank stocks, JPM stock appears to be in a league of its own. Can any other bank stock touch it? * 10 S&P 500 Stocks to Weather the Earnings Storm Let's consider a few different financial metrics to determine if Jamie Dimon's baby is the obvious choice among large bank stocks. What Is Large?Before we consider our options, it's essential that we come up with some definition of large.As I scan a list of bank ETFs, the Invesco KBW Bank ETF (NYSEARCA:KBWB) catches my attention because of its laser-like focus on 24 bank stocks. JPM stock is its number one holding, accounting for 8.56% of its value. KBWB tracks the performance of the KBW Nasdaq Bank Index, which in turn tracks the performance of the leading banks and thrifts that are publicly traded in the U.S. They are primarily sizable, national, money-center banks, with a few regional banks and thrift institutions thrown into the mix. The index uses a float-adjusted, market cap-weighting methodology. The stocks that are weighted lower generally have smaller market caps. Evaluating JPM's PerformanceThe easiest thing to do would be to compare JPMorgan's Q1 results to those of Citigroup.However, that wouldn't be any fun. So, instead, I'm going to compare JPM to my favorite U.S. bank, SVB Financial (NASDAQ:SIVB), where entrepreneurs and innovators go for their financial services needs, both business and personal. Unfortunately, SIVB doesn't report its first-quarter results until Apr. 25, so I'll use the banks' 2018 numbers to compare them. The NumbersFinancial Metric JPMorgan SVB Financial Net Interest Margin 2.51% 3.57% Return on Average Assets 1.24% 1.76% Efficiency Ratio 61.21% 45.50% Tier 1 Capital Ratio 13.7% 13.4% Return on Equity 13% 20.57 By looking at these five financial metrics, it's clear that SIVB stock is very attractive relative to JPM stock. However, there are a couple of caveats to these numbers.First, SVB Financial is much smaller than JPMorgan.In 2018, SIVB had $2.6 billion of revenue. That's about 2% of JPMorgan's total revenue. JPM had $2.6 trillion of total assets, compared to $55.2 billion for SIVB. The 0.52 percentage-point difference in the banks' return on average assets isn't a big deal, since JPM is so much bigger than SIVB. For example, if JPMorgan had SIVB's return on average assets in 2018, it would have generated $45.7 billion of net income, $13.3 billion more than it did. However, as it stands, JPMorgan's net income in 2018 of $32.5 billion was 59% of SVB Financial's entire asset base. I'm sure Jamie Dimon would love to have some of SIVB's superior numbers, but given JPM's size, that's not very realistic.The second caveat is that SIVB is geared toward commercial banking. In 2018, out of $27.5 billion of its average loans outstanding, 50.8% were worth $20 million or more. Consumer loans and mortgages accounted for just 10% of the bank's total loan portfolio. JPMorgan's total consumer-credit portfolio, including credit cards, was $1.2 trillion, or 46% of its total assets. It focuses much more on retail banking than SIVB. When economies turn south, that can work against JPM stock. But for now, with a relatively strong economy, JPM and JPM stock are sitting pretty. The Bottom Line on JPM StockIf you're interested in owning one of America's biggest and best banks, I don't think there's a better choice than JPMorgan stock.However, if you want to own a piece of one of America's best banks, period, SIVB is a desirable alternative, in my opinion. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy for Spring Season Growth * This Is How You Beat Back a Bear Market * 7 Dental Stocks to Buy That Will Make You Smile Compare Brokers The post Is JPMorgan Stock the Obvious Choice Among Large Banks? appeared first on InvestorPlace.
- Market Realist•3 days ago
Why Bank of America’s Q1 Results Didn’t Lift Its Stock
Why Bank of America’s Q1 Results Didn't Lift Its StockWhat restricted the upside in stock? On April 16, Bank of America (BAC) announced mixed first-quarter results. The YoY (year-over-year) improvement in the net interest due to continued growth in
- Zacks•3 days ago
Hancock Whitney's (HWC) Q1 Earnings Beat on Higher Revenues
Though Hancock Whitney's (HWC) Q1 performance reflects increase in revenues, as well as robust loan and deposit growth, higher expenses remain a concern.
- Business Wire•3 days ago
Citi Issues Nine Structured Green Bonds to Finance Sustainable Development
Citi has issued nine structured green bonds. The proceeds will be allocated exclusively to finance loans or investments made by Citi for assets or projects that meet Citi’s green bond eligibility criteria, which Citi developed to identify projects that contribute to climate change mitigation or promote sustainable infrastructure.
- Market Realist•3 days ago
Morgan Stanley’s Q1 Earnings Fell 4%, Beat the Estimates
Morgan Stanley’s Q1 Earnings Fell 4%, Beat the EstimatesMorgan Stanley’s first-quarter results Morgan Stanley (MS) reported its first-quarter results on April 17. The company reported an EPS of $1.39, which beat the consensus estimates of $1.17
- Investing.com•3 days ago
Morgan Stanley Shares Rise After 1Q Revenue Drops Less Than Feared
Investing.com - Shares in Morgan Stanley (NYSE:MS) rose to their highest level in seven months after the bank appeared to navigate volatility in global markets in the first quarter slightly better than the market had expected.
- Financial Times•3 days ago
Boring banking is exciting again in the US
At JPMorgan Chase and Bank of America, bank deposits and loans grew and lending margins widened. Retail net interest income rose 11 per cent at Chase and 10 per cent at BofA, to $9.4bn and $7.1bn, respectively. “Look at the banks’ different businesses — corporate and investment banking is not a source of growth, and asset management is not [either].
- Financial Times•3 days ago
Citigroup adds to property-buying spree with Belfast deal
Citigroup has continued its real estate acquisition drive by buying its office building in Belfast, which is also another indication of the US bank’s commitment to the UK despite the uncertainties of Brexit. The Northern Irish deal follows Citi’s £1bn purchase of its London Canary Wharf skyscraper earlier this year and the acquisition of its New York global headquarters in Tribeca for $2bn in 2016.
- Bloomberg•3 days ago
China Says IPO Sponsors on New Tech Board Must Invest in Deals
Sponsors and their units should hold their stakes for at least 24 months, the Shanghai Stock Exchange said in a statement late Tuesday, an arrangement virtually unheard of in global markets. The rules may be an attempt to ensure investors are protected on the so-called tech board, which will have a lighter regulatory regime than the rest of China’s equity markets, according to Roy Smith, emeritus professor of finance at New York University. “The idea is to make sponsors/underwriters more conservative in promoting IPOs that seem hot, with ‘skin in the game,”’ he said by email.
- Thomson Reuters StreetEvents•3 days ago
Edited Transcript of C earnings conference call or presentation 15-Apr-19 2:00pm GMT
Q1 2019 Citigroup Inc Earnings Call
- Investopedia•3 days ago
Gold Retreats and Stocks Diverge
Gold broke below support as the S&P 500 drifted to a new 2019 high, but the health care and financial sectors are diverging in Q2.
Bloomberg•3 days agoOPEC Risks Gambling Away Success Again as $80 Oil Looms
In the first quarter, coordinated production curbs by the Organization of Petroleum Exporting Countries and its allies helped oil rally the most in almost a decade, restoring prices to over $70 a barrel. Saudi Arabia, the group’s most powerful member, has made clear that it’s determined to keep supplies tight. OPEC and its partners launched a new round of output cuts at the beginning of the year when it looked like booming U.S. shale-oil production and fragile global demand growth would lead to a supply surplus.
- Reuters•3 days ago
Brazil's Petrobras hires JPMorgan, Citi to manage BR Distribuidora offering -sources
State-run oil company Petroleo Brasileiro SA has hired nine banks to manage an offering of shares in its fuel distribution unit Petrobras Distribuidora SA, three sources with knowledge of the matter said. The offering will be led by the investment banking units of JPMorgan Chase & Co and Citigroup Inc, along with the investment banks owned by Itau Unibanco Holding SA , Banco Bradesco SA, Bank of America Corp , Credit Suisse Group AG, Banco do Brasil SA , Banco Santander Brasil SA and HSBC Holdings Plc.
- American City Business Journals•4 days ago
Citigroup CEO: Firearm policy has not cost bank 'meaningful amount of money'
A year ago, the New York bank began requiring business customers to prohibit the sale of firearms to customers who are younger than 21 years of age.
