Citigroup's profit rose in the second quarter, boosted by a 60% jump in investment banking revenue and gains in its services division, sending the bank's shares up 2% before the bell.
Citigroup was just this week rebuked for failing to address its regulatory shortfalls, so analysts will be keen to ask CEO Jane Fraser about her long-running efforts to address the issue. Last year, Fraser announced plans to simplify the management structure and reduce costs at the third-biggest U.S. bank by assets.
Dow giant JPMorgan reports Friday, along with Wells Fargo and Citigroup. JPM stock and Citi are in buy zones.
The financial sector, and specifically the sector ETF Financial Select Sector SPDR Fund NYSE: XLF, has been consolidating for several months and is now approaching a significant breakout level.
JPM is scheduled to release their Q2 '24 financial results before the opening bell, Friday, July 12th, 2024, with Street consensus expecting $4.18 in earnings per share. JPM has a tough compare with Q2 '23 when revenue and EPS grew 34% and 54%, respectively. JPM also has tougher a compare vs. '23 in Q3 '24. Citigroup's constant allure over the past 5 years has been its discount to book value and tangible book value that it constantly traded at when the stock was hanging around the high $39s to low $50s.
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Early Q2 reports have already begun to trickle in, with the focus now turning to the major bank results on Friday.
Citigroup Inc. C will release its financial results for the second quarter, before the opening bell on Friday.
Raw footage of the incident obtained by The Post shows a man in a blue, button-down dress shirt and jeans pushing against a line of protesters who are holding what looks like a black barricade made to resemble an oil pipeline.
Citigroup Inc. is set to release its second-quarter earnings report on July 12. The bank's stock has shown moderate gains since our latest coverage. Critical talking points suggest Citigroup might deliver a robust second-quarter earnings report.
TipRanks' analyst ranking service pinpoints Wall Street's best-performing stocks, including Darden Restaurants and Citigroup