C - Citigroup Inc.
69.85 +0.35 (0.50%)
Pre-Market: 7:16AM EDT
| Previous Close | 71.22 |
| Open | 70.82 |
| Bid | 69.55 x 1300 |
| Ask | 70.78 x 1100 |
| Day's Range | 69.42 - 71.46 |
| 52 Week Range | 48.42 - 73.08 |
| Volume | 15,968,217 |
| Avg. Volume | 13,648,964 |
| Market Cap | 157.005B |
| Beta (3Y Monthly) | 1.89 |
| PE Ratio (TTM) | 9.67 |
| EPS (TTM) | 7.19 |
| Earnings Date | Jan 14, 2020 |
| Forward Dividend & Yield | 2.04 (2.86%) |
| Ex-Dividend Date | 2019-08-02 |
| 1y Target Est | 82.77 |
- Financial Times
Citigroup/China: pathfinder Pete
Citigroup is the latest company betting on China for growth. Newly appointed Asia-Pacific chief executive Peter Babej has the tough task of manoeuvring between monolithic state-owned banks and fast-moving foreign peers at a time of worsening east-west tensions. Staking a claim for Citi in Chinese securities will be more demanding.
- Bloomberg
Dubai’s Biggest Bank Plans $1.76 Billion Rights Share Sale
(Bloomberg) -- Dubai’s biggest bank is seeking to raise 6.45 billion dirhams ($1.76 billion) from a rights share offering as it expands abroad and courts more foreigners to its stock.The state-controlled Emirates NBD PJSC plans to offer 758.8 million shares at 8.5 dirhams each, it said in a statement. That compares with its closing price of 13.15 dirhams on Oct. 16 and represents a discount of about 35%. The issue opens Nov. 10 and will close Nov. 20.The shares dropped 3.8% at 12.65 dirhams at 11:31 a.m. in Dubai, dragging the exchange’s benchmark index 1.4% lower. For the year, the shares are up more than 40%.Emirates NBD last year proposed selling new shares to help fund the acquisition of Turkey’s Denizbank AS. The lender plans to use the proceeds of the sale to strengthen its capital base and support growth, according to Thursday’s statement.Lenders in the six-nation Gulf Cooperation Council are trying to broaden the base of their investors as a combination of low oil prices, slowing economic growth and geopolitical upheavals drain inflows.Emirates NBD last month raised the cap on foreign ownership holding in its shares to 20% from 5%, with plans to seek shareholders’ approval to double the new limit. It also raised raised 305 million pounds ($373 million) from the sale of a stake in London-listed Network International Holdings Plc.Read More: Dubai’s Biggest Bank Joins Rivals to Draw Foreign InvestorsEmirates NBD Capital PSC, the bank’s investment banking unit, is managing the rights share offering, while Citigroup Inc., Morgan Stanley, Clifford Chance LLP and Matouk Bassiouny & Ibrahim are acting as advisers.(Updates with share price move in third paragraph.)To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.netTo contact the editors responsible for this story: Shaji Mathew at shajimathew@bloomberg.net, Alaa ShahineFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Benzinga
Citigroup Appoints New Head of Asia Pacific Business
American multinational financial services corporation Citigroup Inc. (NYSE: C) has appointed Peter Babej as the new chief executive officer of its Asia Pacific region, a memo sent to staff by Citi global CEO Mike Corbat shows. Babej previously served as the bank’s global head of financial institutions group.
- Financial Times
Peter Babej to lead Citi’s Asia-Pacific division as it plans China growth
Citigroup has appointed Peter Babej as its new chief executive for Asia-Pacific, an increasingly important region for the US bank, which is seeking to grow its presence in mainland China. Mr Babej joined the bank in 2010 and has been the head of Citi’s financial institutions group for the past two years, based in New York. In that role he was involved in a number of sizeable transactions in Asia, including last year’s financing round for Ant Financial.
- Reuters
Citigroup names Peter Babej as Asia Pacific chief executive: memo
Citigroup Inc has named Peter Babej, the U.S. bank's global head of financial institutions group, as its new Asia Pacific chief executive officer, according to an internal memo seen by Reuters on Thursday. Babej joined Citi in 2010 as co-head of the financial institutions group after having previously worked at Deutsche Bank and investment bank Lazard , according to the memo sent to staff by Citi global CEO Mike Corbat.
- Reuters
UPDATE 1-Citigroup names Peter Babej as Asia Pacific chief executive - memo
Citigroup Inc has named Peter Babej, the U.S. bank's global head of financial institutions group, as its new Asia Pacific chief executive officer, according to an internal memo seen by Reuters on Thursday. Babej joined Citi in 2010 as co-head of the financial institutions group after having previously worked at Deutsche Bank and investment bank Lazard, according to the memo sent to staff by Citi global CEO Mike Corbat.
- Investor's Business Daily
Bank Of America Stock Breaks Out, Then Eases, After Earnings Beat
Bank of America earnings topped third-quarter views. Share cleared a buy point early Wednesday but closed below it after attempting to break out the day before.
- Business Wire
Citi Signs Agreement to Purchase 580 CrossPoint Parkway from Uniland
Citi has signed a purchase and sale agreement for 580 CrossPoint Parkway in the CrossPoint Business Park and approximately nine acres of adjacent land from owner Uniland Development Company. This building purchase is a part of Citi’s Amherst office complex, and demonstrates Citi’s long-term commitment to remain in Western New York. With this transaction, Citi will own the 158,000 square foot building located at 580 CrossPoint Parkway and will extend its lease with Uniland on the conjoined 107,000 square foot building located at 540 CrossPoint Parkway.
- Yahoo Finance
CrowdStrike CEO gives perfect answer on post IPO stock price tumble
Crowdstrike remains a business on fire, even if some on Wall Street are voicing views to the contrary.
- Zacks
BofA's (BAC) Q3 Earnings Top on Trading, Investment Banking
Impressive trading and investment banking performance, and modest loan growth support BofA's (BAC) Q3 earnings.
- Zacks
Comerica (CMA) Q3 Earnings Beat Estimates, Revenues Rise
Comerica's (CMA) third-quarter 2019 results reflect higher revenues and decline in expenses, partly offset by higher provisions.
- Zacks
Stock Market News for Oct 16, 2019
Wall Street closed Tuesday's trading session at more than three-week high, thanks to better-than expected third quarter 2019 earnings of mostly major American banks.
- Bloomberg
Citigroup Dives Into Sterling Bond Market Ahead of Brexit Summit
(Bloomberg) -- Citigroup Inc. is set to price its second sterling bond this year, after rushing into the market before a European Union meeting that will be key for Brexit.The lender offered the previously unannounced 650 million pound ($833 million) bond just a day after reporting better-than-expected earnings, and as U.K. and EU negotiators seek to hammer out a Brexit accord before a summit starting on Thursday. Optimism that a deal can be reached has bolstered the pound and U.K. assets this week.We “wanted to get ahead of the EU summit given the recent positive tone,” said Tim Michael, a Citigroup bond syndicate managing director.The U.S. bank was able to tighten pricing on the seven-year note by about 10 basis points to 140 basis points above gilts at final terms, Michael said. Citi is the sole bookrunner on the deal.READ MORE: Citigroup GBP650m 7Y UKT+140The offering came amid varying news reports that suggested the Brexit talks were either close to success or near collapse. The pound swung between gains and losses as U.K. Prime Minister Boris Johnson sought a deal that can satisfy EU leaders as well as garnering support from divided U.K. lawmakers ahead of the country’s planned Oct. 31 departure from the EU.Citigroup last sold a syndicated sterling note in January after an almost 10-year absence. It priced the 750 million-pound five-year bond at 175 basis points over gilts. Those notes have since tightened by more than 50 basis points, according to pricing source CBBT.To contact the reporter on this story: Priscila Azevedo Rocha in London at pazevedoroch@bloomberg.netTo contact the editors responsible for this story: Hannah Benjamin at hbenjamin1@bloomberg.net, Neil DenslowFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
PNC Financial (PNC) Q3 Earnings Top Estimates on High Revenues
PNC Financial's (PNC) Q3 performance highlights top-line strength, partly offset by elevated expenses and provisions.
- Financial Times
US retail sales fall by the most in seven months
Unexpectedly weak Commerce Department data released on Wednesday showed overall US retail sales dipped 0.3 per cent in September, the biggest monthly decline since February. The figures, which fell notably short of the 0.3 per cent increase economists had expected, will give monetary doves more ammunition to press for another Federal Reserve interest rate cut. Jack Kleinhenz, chief economist at the National Retail Federation, said it was “possibly a reaction to increased fears over US-China tensions” as the world’s two largest economies spar over trade, even though US consumers “still have a lot going for them”.
- Reuters
UPDATE 2-China to scrap business curbs on foreign banks, brokerages
China will remove business restrictions on foreign banks, brokerages and fund management firms, a cabinet meeting chaired by Premier Li Keqiang said on Wednesday, state television reported. China has stepped up efforts to open its financial sector amid a festering trade war with the United States, with increased access to its financial sector among a host of demands from Washington.
- Bloomberg
Sandy Weill Becomes Carnegie Hall’s First $100 Million Man
(Bloomberg) -- Sandy Weill still has the checkbook he used in 1967 to make the first donations of the Weill Family Foundation. One was for $10, to his temple. The biggest was for $100.Since then, he and his wife Joan have given away more than $1 billion, often in much larger amounts: $250 million to the medical school at Cornell University in 2007 and $185 million to start a neuroscience institute at University of California San Francisco in 2016. And they’re not done yet, said Weill, 86, with gifts coming in areas new to them, like artificial intelligence and big data.Still, it took Weill 30 years to reach $100 million in giving at Carnegie Hall. It became official Tuesday night when the hall announced a $14.6 million gift from the Weills, partly to endow music education and teacher-training programs in New York City public schools.Not that Weill was counting.“Robert Smith was counting,” Weill said, referring to the private equity billionaire who is Carnegie Hall’s chairman, a role he held from 1991 to 2015. “I had no idea what we had done or not done, and then he told me, ‘Do you know if you give $4.6 million more, you will have surpassed $100 million? I said, ‘You’re some salesman.’”Matched GiftsActually, Weill does recollect some of the increments. After joining Carnegie Hall’s board in 1983, when he was president of American Express, he gave $2 million toward the building’s restoration. For his 70th birthday -- soon after he’d left the top job at Citigroup -- Carnegie Hall ran a campaign to build an endowment for music education in his honor. The Weills agreed to match gifts, with $60 million raised, though Carnegie Hall only credited him for $30 million, Weill said.While Carnegie Hall’s acoustics are a favorite of artists, orchestras and audiences, expanding education programs is the most important mark Weill says he’s made on the institution, which was built by Andrew Carnegie with an initial $2.1 million investment in the 1890s.“What our country has done is we’ve taken music education out of the school system, yet it’s probably the most cost effective way of really helping people in their development,” Weill said. “Young people that have an affinity with a musical instrument, their brains usually grow larger, and they’re better in math and science.”‘Old Man’The next era at Carnegie Hall will belong to Smith, Weill said. “I’m like an old man at Carnegie Hall. I’ve had my time to help.”The Weills’s gifts created an infrastructure for music education that makes expansion possible, Smith said in an interview. “This is about scale and sustainability.”While reaching $100 million may be an invitation to move on, Carnegie Hall will always be the place where Weill entered the big time of elite giving. “When I came in 1983, I didn’t know anything about fundraising, not much about philanthropy, but I had a big mouth,” he said.Little did he know philanthropy would become his second career. “Everybody thought I was going to die at my desk and never retire. I didn’t know what it was going to be like to be out of that power position. But I’ve had another life besides just running a big financial institution.”At a reception Tuesday evening in the Weill Terrace Room, Joan Weill got the last word about her husband’s devotion to Carnegie Hall, after guests had taken in a performance by the Philadelphia Orchestra, sipped egg creams and perused photos of the couple, many at galas that she had selected for display.“The music, the people, the privilege of seeing these children being educated,” she said. “We have gotten so, so much out of it.”(Updates with Joan Weill’s comment in last paragraph.)To contact the reporter on this story: Amanda Gordon in New York at agordon01@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Business Wire
Citi Appointed as Successor Depositary Bank for Tate & Lyle PLC’s ADR Programme
Citi, acting through Citibank N.A., has been appointed by Tate & Lyle PLC , as successor as depositary bank for its sponsored Level 1 American Depositary Receipt programme.
- Business Wire
Citi launches Cross-Currency Sweeps for Liquidity Management
New cash concentration solution offers automated foreign exchange conversion
- Thomson Reuters StreetEvents
Edited Transcript of C earnings conference call or presentation 15-Oct-19 2:00pm GMT
Q3 2019 Citigroup Inc Earnings Call
- Financial Times
Bank of America: bond of trust
Bank of America became the latest on Wednesday to post gangbuster results from its investment banking division. Just a day earlier, JPMorgan Chase and Citi posted rises of 8 per cent and 4 per cent respectively. On the other hand, for Goldman Sachs investment banking fees dropped 15 per cent to $1.7bn.
- Reuters
US STOCKS-Wall Street gains as earnings season begins in earnest
Wall Street advanced on Tuesday as third-quarter reporting season hit with a spate of upbeat earnings reports that brought buyers back to the equities market. All three major U.S. stock averages gained ground in a broad-based rally, with the S&P 500 and the Nasdaq hitting their highest closing level in more than three weeks. "Positive earnings are flowing through equity markets today, suggesting that things weren't as bad as investors thought," said Charlie Ripley, senior market strategist for Allianz Investment Management in Minneapolis.
- Business Wire
Citi Third Quarter 2019 Fixed Income Investor Review
Mark Mason, Chief Financial Officer, and Michael Verdeschi, Treasurer, will conduct the Citigroup third quarter 2019 Fixed Income Investor Review at 11:00 AM on Tuesday, October 29, 2019.
- Business Wire
Citigroup Announces Redemption of Series N Preferred Stock
Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Depositary Shares representing interests in its 5.800% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series N .
