|Bid||69.52 x 1000|
|Ask||69.85 x 1400|
|Day's Range||69.25 - 69.87|
|52 Week Range||64.38 - 80.70|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 12, 2018|
|Forward Dividend & Yield||1.80 (2.47%)|
|1y Target Est||83.52|
Impressive quarterly results along with rising interest rates, a strong job market, a tax overhaul, and expected ease in regulations have made analysts bullish about the banking sector. This viewpoint is well reflected in their ratings, featuring mostly “buy” recommendations for the largest US banks.
John Gerspach, Chief Financial Officer of Citigroup, will present at the Barclays Global Financial Services Conference on Wednesday, September 12, 2018. The presentation is expected to begin at approximately 8:15 a.m.
Citigroup has agreed to pay $10.5 million (£8.27 million) to settle charges related to bad loans made by its Mexican subsidiary, Banamex, between 2008 and 2014, and to trader mismarking and unauthorised proprietary trading by Citigroup Global Markets Inc. from 2013 to 2016, the Securities and Exchange Commission said on Thursday. The SEC said the "fraudulently-induced loans" to Oceanografia that led to $475 million in losses were the result of inadequate controls that prevented them from registering "numerous red flags" in the borrower's documents. Similarly, it said that inadequate supervision allowed the CGMI traders to mismark illiquid positions and cover up $81 million in losses.
Citi Retail Services today announced a long-term agreement with Caterpillar Financial Services Corporation to provide a private label credit card program in the United States and Canada.
Since the Great Recession of 2007–2009, the Federal Reserve has kept its federal funds rate near zero. The central bank raised interest rates to 0.25% from 0.0% in December 2015, the first time since the Great Recession officially ended in mid-2009. Since 2015, the Fed has raised interest rates seven times with one hike each in 2015 and 2016, three in 2017, and two in 2018.
After a dismal first half of 2018, bank stocks perked up last month on tailwinds from strong second-quarter results and rising interest rates. The Financial Select Sector SPDR ETF (XLF), which has ~50% exposure to the banking industry, has been falling since last Friday as Turkey’s financial crisis deepened, pushing the domestic currency to a record low against the US dollar. JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), and Goldman Sachs (GS), the top five US banks on the basis of total assets held, have fallen 2.6%, 3.5%, 1.4%, 3.9%, and 3%, respectively, in the last two trading days.
Citigroup Inc. is making changes to its consumer-banking leadership, in a bid to deliver a more seamless approach to customers. As part of the shuffle, Jud Linville, head of global cards and consumer services, is leaving the bank, Stephen Bird, Citigroup’s chief executive of global consumer banking, announced in an internal memo reviewed by The Wall Street Journal on Monday. The New York-based bank has created a new position called head of U.S. consumer banking and appointed Anand Selva, a 26-year Citigroup veteran who currently is in a similar role in Asia, to fill that position, Mr. Bird said in the memo.
Sales at companies with significant emerging market exposure posted a notably weak financial quarter, according to Goldman Sachs, amid growing currency and equity concerns in Turkey as well as ongoing trade and tariff woes in China.
Physical music purchases are falling with the proliferation of streaming services, so musical artists are turning to live events as a way to reap rewards.
Investing.com - Financial stocks were mostly lower midday, as investors fretted about the plunge in the Turkish lira and its impact on the global banking system.
Virtual credit cards are a great way to make sure free trials don't go beyond the free period, and to prevent extra unwanted charges.
Citigroup (C) is seeing solid earnings estimate revision activity and is a great company from a Zacks Industry Rank perspective.
Using a balance-transfer card, you can move debt from a credit card with a high interest rate to one that temporarily charges no interest, providing you with a window of time to focus on paying off your balance. Since the average U.S. household with revolving credit card debt pays almost $900 in interest each year, using these cards responsibly can get you out of debt faster and at a lower cost. To determine which card offers the best deal overall, CNBC Make It analyzed 25 of the most popular credit cards designed to help users pay off debt in the U.S. Using a sample budget based on data from the Bureau of Labor Statistics, we estimated how long it would take to pay off a range of debts at different rates, and how much interest you'd pay with each card.
IBM (IBM) has created a blockchain platform for the financial services sector. About nine financial services companies, including Citigroup (C), are involved in IBM’s blockchain platform project. Financial service companies are looking to blockchain to increase efficiency and possibly cut costs in their daily operations such as processing loans and settling trades.
Sen. Rand Paul (R., Ky.) still hasn’t persuaded his colleagues to audit the Federal Reserve’s conduct of monetary policy. Perhaps lawmakers could simply agree that the Fed should stop destroying documents. publishing today and co-authored by your humble correspondent and Vern McKinley, finds that the bank was in many ways healthier and more stable during the century when it was independent than during the roughly 100 years it has been supported by the federal government.
Facebook (FB) stock rose 7.91% on August 6 and ended the day 4.45% higher at $185.69. Facebook wants banks to share detailed user information to help the company improve its customer service. Despite privacy concerns surrounding Facebook, investors were positive about the news, which helped the stock rise.
Europe Forbids European Companies from Complying with US Sanctions Against Iran US economic sanctions against Iran have begun being partially applied today at midnight, with oil-specific sanctions to be applied only after the midterm elections, so as to placate potential voters of the Republican party into thinking that the GOP does not cause gasoline prices […] The post Market Morning: Europe Fights Iran Sanctions, California Burns, Icahn Fights Cigna/Express Scripts Deal appeared first on Market Exclusive.
Citigroup hired Sanjiv Das as CEO of its mortgage unit in July 2008, right as the financial crisis was beginning to flare. With the market in free fall, he was unable to sell, and since he could not possibly afford to pay the mortgages, he would simply hand the properties back to Citi. The driver explained that he had three more mortgages from Citi’s rivals.
Telecommunication services company Windstream Holdings (WIN) fell 33.0% in July to close at $3.52. At the end of July, Windstream was trading 16.0% above its 52-week low of $3.03 and 80.0% below its 52-week high of $17.50. Windstream stock has returned -81.0% in the trailing 12 months and -65.0% in 2018 after declining more than 73.0% in 2017.
What Could Drive Growth for Goldman Sachs in Second Half of 2018? Goldman Sachs (GS) has demonstrated a strong performance in the first half of 2018 as compared to a weaker 2017 mainly due to higher trading income, private market equity returns, debt lending, and transaction advisory fees. The investment bank’s revenues have been volatile over the years due to its reliance on alpha generation, trading offerings, and other similar product categories.
What Could Drive Growth for Goldman Sachs in Second Half of 2018? Goldman Sachs (GS) managed high growth in investment banking in the second quarter due to completed mergers and acquisition transactions, underwriting of public offerings, and placements. The investment bank has managed a higher backlog in the second quarter as compared to the first quarter, reflecting continued growth in the segment.
Jim Cramer sounded off on the Federal Reserve for not anticipating the coming financial crisis 10 years ago today.