Wolfe Reserach created a basket of companies that would benefit from a Republican sweep, and one of shares that would fall in that scenario.
Citigroup's stock (NYSE: C) has gained 18% YTD, compared to the 14% rise in the S&P500 over the same period. Notably, Citigroup's peer Goldman Sachs (NYSE: GS) is up 29% YTD.
It's been a challenging start to the third quarter of 2024 for many stocks throughout the financial sector, and banking is no different. However, plenty of indicators suggest that the brightest bank stocks on Wall Street are well-placed to mount a recovery for investors.
When you invest in bank stocks, you are investing in institutions that offer credit cards, insurance, banking services and other financial services. Since the banking industry is at the heart of the global economy, you should have some bank stocks in your portfolio.
Citigroup's head of digital assets for its markets unit, Shobhit Maini, is leaving the bank after more than 14 years, according to an internal memo seen by Reuters.
Cis set to remove the bonus cap for its London investment bankers after the UK government lifted EU-imposed pay restrictions last year, according to a report in the Sunday Times. This decision follows similar moves by other major banks, including Barclays, JP Morgan, and Goldman Sachs, which have already scrapped the cap.
American Financial Group, Inc. (NYSE:AFG ) Q2 2024 Results Conference Call August 7, 2024 11:30 AM ET Company Participants Diane Weidner - Vice President of Investor Relations Carl Lindner - Co-CEO Craig Lindner - Co-CEO Brian Hertzman - CFO Conference Call Participants Michael Zaremski - BMO Capital Markets Gregory Peters - Raymond James Charlie Lederer - Citigroup Paul Newsome - Piper Sandler Andrew Andersen - Jefferies Meyer Shields - Keefe, Bruyette, & Woods Bob Farnam - Janney Montgomery Scott Charlie Lederer - Citigroup [Call Started Abruptly] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Diane Weidner, Vice President of Investor Relations.
A federal appeals court on Tuesday said a Citigroup vice president was not entitled to a share of a $400 million civil fine that the bank agreed to pay in October 2020 over its risk management failures.
A Citigroup executive who joined the bank from Bank of America in April is leaving Citi, one source with knowledge of the matter said on Tuesday.
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 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.
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.