70.10 -0.14 (-0.20%)
After hours: 6:02PM EDT
|Bid||70.11 x 1000|
|Ask||70.18 x 1300|
|Day's Range||69.23 - 70.70|
|52 Week Range||59.87 - 80.70|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 13, 2018|
|Forward Dividend & Yield||1.28 (1.85%)|
|1y Target Est||83.91|
NEW YORK, NY / ACCESSWIRE / May 23, 2018 / U.S. markets fell Tuesday on geopolitical concerns after President Trump stated he was not happy with the current U.S. – China trade talks. The Dow Jones Industrial ...
JPMorgan Chase and Co. CEO Jamie Dimon tells CNBC's "Squawk Alley" that his work comes only after his family and his country.
"There are plenty of other banks out there who respect the Second Amendment, perhaps even more," the chairman of the House Financial Services Committee says.
As we learned in the previous article, last week, the United States and China held their second round of trade discussions. There seems to have been some progress—if only in principle—in addressing the widening trade deficit between the two countries. This year, China has also talked about opening up its financial (C) and automotive sectors (TSLA).
US-listed ETFs witnessed a huge jump in inflows last week mainly due to the surge in US equity inflows. According to FactSet, investors added $15.7 billion to the ETFs last week, which increased the YTD (year-to-date) inflows to $108.5 billion. More than 78% of the inflows were concentrated in US equity (MS) (GS) (C). US equity collected $12.3 billion, while international equity added $1.6 billion. US fixed-income ETFs had $1.8 billion, while international fixed-income garnered a moderate $536 million.
Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by YY Inc. , a Cayman Islands exempted company with limited liability and operations in China, as successor depositary bank for its American Depositary Receipt program.
Wells Fargo (WFC) discovered that employees in its wholesale unit altered information related to customers’ records without the company’s knowledge. As a result, there are renewed concerns about the bank’s internal control systems. Wells Fargo (VFH) (XLF) reported the activities to the Office of the Comptroller of the Currency.
Citi Retail Services and Sears Holdings Inc. said Monday they are extending their 15-year, co-brand and private label credit card program and making changes to the rewards program. Cardholders will now get 5% back in points on eligible purchases made at gas stations, will get 3% back in points on eligible purchases at grocery stores and restaurants and 2% back in points on eligible purchases made at Sears and Kmart, among other changes. As part of the agreement, Sears will receive $425 million from Citi, $400 million of which has already been received.
Citi and Sears Holdings are pleased to announce the long-term extension of their 15-year co-brand and private label credit card relationship along with long-term marketing arrangements that include ongoing enhancements to the Shop Your Way® Mastercard rewards program. Visit shopyourway.com for more information on how to earn points.
The U.S. gun lobby is taking aim at "gun-hating" banks after Citigroup Inc and Bank of America said they would no longer provide certain banking services to gun-makers, according to industry lobbyists. The attack by Gun Owners of America and the National Rifle Association (NRA) could imperil de-regulatory gains the banks had hoped to win from Republican lawmakers and regulators, many of whom are staunch defenders of the Second-Amendment right to bear arms, according to industry sources. In March, Citigroup put restrictions on new retail business clients which sell guns to require their customers to pass background checks, following February's Florida high school shooting that killed 17 people.
The securities regulator in Hong Kong fines Citigroup (C) for lack of proper due diligence as a sponsor for an IPO in Hong Kong in 2009.
More settlements, with other firms, are expected in the coming monthsBloomberg News/LandovPedestrians cross a road in front of a Citigroup Inc. Citibank branch in the central business district of Hong Kong. Hong Kong’s securities regulator on Thursday fined an Asian unit of Citigroup Inc.(XNYS:C) 57 million Hong Kong dollars (US$7.26 million) for failures while leading an initial public offering in the city in 2009. Hong Kong’s Securities and Futures Commission said Citigroup hadn’t conducted “adequate and reasonable due diligence” on some aspects of the listing of Chinese company Real Gold Mining Ltd., for which it acted as sponsor.
Hong Kong’s securities regulator on Thursday fined an Asian unit of Citigroup Inc. 57 million Hong Kong dollars (US$7.26 million) for failures while leading an initial public offering in the city in 2009. Hong Kong’s Securities and Futures Commission said Citigroup hadn’t conducted “adequate and reasonable due diligence” on some aspects of the listing of Chinese company Real Gold Mining Ltd., for which it acted as sponsor. Sponsors shepherd companies through the listing process and can be held liable for misleading statements in the IPO prospectus.
Viktor Vekselberg has been banned from doing business in America under U.S. sanctions. But as of this week, he was still the chairman of a U.S. nonprofit group that boasts support from a few Fortune 100 corporations and one of Trump's top advisors.
Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) is a top Canadian dividend stock that offers both safety and growth to your income portfolio.
Bankers (XLF) have improved their payout ratio in the recent quarters helped by improved operating performance and the passing of stress tests. The dividend yields have risen to ~2.0% to 3.0%, whereas repurchases have risen at a relatively fast pace. Buybacks have helped bankers in expanding return on equity (or RoE) amid subdued credit offtake.
Banque Misr, Egypt’s second largest bank, has mandated Citigroup to arrange a $500 million syndicated loan, banking sources said, the latest sign of a pick-up in interest among international banks in lending ...
Citigroup will issue its financial results via press release at approximately 8 a.m. on the following dates:
Valuations for banks have improved in recent quarters due to improvement in earnings from core banking, trading, and the asset management businesses. Citigroup (C) has received strong ratings in May 2018. Of the 29 analysts covering the bank, 17 have given the bank “strong buy” or “buy” ratings, ten analysts have given the stock “hold” ratings, and two analysts are recommending an “underperform” or “sell.” The bank has a one-year forward price target of $83.91 with an upside of 15.2% based on its current price.
The Federal Reserve has indicated we could see two more rate hikes in 2018 after a 25-basis-point hike in the Fed funds rate in March 2018 to 1.8%. Rate hikes have helped banks (XLF) with higher net interest margins (or NIMs). However, the yield curve has flattened in recent months, suggesting we won’t see a major expansion in spreads going forward. Thus, rate hikes from here on will impact credit offtake as corporates could look to reduce leverage amid lower taxes and improving cash flows.
Citigroup continues to shed its own shares. Citigroup units continued to sell Citigroup stock in the first quarter, according to a regulatory filing made Friday. Units of the bank sold 228,600 Citigroup shares in the quarter, cutting the overall stake by 17% to 1.09 million shares.
Citigroup’s (C) balance sheet expansion continued in 1Q18 helped by deposits, growth in assets under management, and credit card lending partially offset by the disposal of legacy assets and repurchases. The bank is targeting higher ROE (return on equity) by improving operating performance and engaging in buybacks. Its return on average equity rose to 9.7% in 1Q18 from 7.4% in 1Q17 mainly due to higher revenues, lower credit costs, and lower taxes.
Stephen Bird, Chief Executive Officer of Citi’s Global Consumer Bank, will present at Deutsche Bank’s 2018 Global Financial Services Conference on Tuesday, May 29, 2018. The presentation is expected to begin at approximately 11:30 am .
Citi CEO Michael Corbat will present at Bernstein’s 34th Annual Strategic Decisions Conference on Wednesday, May 30, 2018. The presentation is expected to begin at approximately 9:00 a.m.
Analysts’ high 2Q18 EPS (earnings per share) estimate for Charles Schwab (SCHW) is $0.62, while their low estimate is $0.54. Their average EPS estimate of $0.59 for 2Q18 suggests a YoY (year-over-year) rise. The company works in a competitive industry, prompting it to reduce prices for customers executing trades.