Citigroup Inc. (C)
Investment Banking Surged in the First Half of 2024: 3 Stocks to Buy Hand Over Fist Today
Investment banking activity fell off in the last few years due to rising interest rates and market volatility. But debt and equity underwriting have bounced back significantly in the first half of the year.
Citigroup: A Recession Is An Opportunity
Citigroup and other U.S. G-SIB banks are well-capitalized and resilient, not facing a repeat of the 2008 financial crisis. A U.S. recession may impact Citigroup through declining interest rates, increased loan losses, and higher trading volatility. Despite potential challenges, Citigroup's diversified business model and conservative provisioning make it a resilient investment opportunity during market drawdowns.
Citigroup: Keeping Faith In The Turnaround
Citi stock was punished especially harshly last week. Yet, the fundamentals of this self-help story are intact. There's compelling value on offer at the current tangible book value discount.
Report: Citi Repeatedly Broke Fed's Intercompany Transaction Limits
Citigroup reportedly made repeated breaches of a Federal Reserve rule limiting intercompany transactions. Those breaches led to errors in the banking giant's internal liquidity reporting, Reuters reported Wednesday (July 31), citing an internal document from Citi.
Citigroup: Still Cheap, Despite The Recent Rally, Maintain Buy
C has charted an impressive recovery since the March 2023 US Bank meltdown in March 2023, well outperforming the wider market. This is on top of the promising restructuring and transformation efforts, with early results already observed in the recent FQ2'24 earnings call. As a result, we believe that the market has overreacted to the management's commentary about the FY2024 expenses at the higher end of guidance.
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Citigroup: Strong Performance Points To Sustained Upside Momentum
Citigroup beats Q2 estimates with revenue and earnings exceeding analyst expectations, driven by strong performance in Markets and Investment Banking. Despite concerns about higher costs for FY 2024, Citigroup's outlook remains strong, with FY EPS likely expanding to $6.05 and ROCE to >10%. Following the earnings beat, the fair implied share price for Citigroup is calculated at $92, leading to a strong "Buy" rating.
Fired Citigroup banker says COO intended to deceive regulator on bank's metrics
A former Citigroup managing director who said she was fired because she refused to mislead a federal regulator about the bank's risk management accused Citigroup's chief operating officer of intentional deception, according to an amended lawsuit filed late on Thursday.
JPMorgan And Citigroup Earnings Summaries: Like Both, But Citigroup Is A Cheaper, Longer-Term Play
JPM is “winning” for its shareholders, while Jane Fraser continues to turn around Citigroup. Coming into last Friday morning's call, our revenue estimate for JPM was $42 billion and change, but that estimate was actually revised up on Thursday. Citi's net revenue grew 3% YoY, while EPS grew 14% YoY, with an 8% EPS upside surprise.
7 Dividend Stocks That Just Raised Their Payouts: July 2024
Dividend stocks are a powerful multiplier. Not only do investors benefit from capital appreciation from the stock but their portfolios are supercharged by the dividend payments increasing total returns.
Citigroup's Turnaround Story Getting Taken A Little More Seriously Now
Citigroup's Q2 results were better than expected on a core basis, with a $0.13/beat at the core pre-provision profit line on stronger than expected capital markets and commercial banking. The Services business is a strong asset for Citi, with a durable moat, strong share in high-margin treasury services, and ongoing growth potential, and commercial banking looks fixable. Retail banking (including cards) and wealth management need a lot more work, and Citi's rivals are targeting many of the same markets and customers and doing so more effectively.
Why Consumer Stock Is Citigroup Analysts' Top Choice Right Now
It's no secret that most of the market's attention has been centered around the technology sector, especially in stocks dealing with the advancement and global adoption of artificial intelligence, names like NVIDIA Co. NASDAQ: NVDA and even Taiwan Semiconductor Manufacturing NYSE: TSM. While these stocks have outperformed this year, investors should focus on the road ahead.
