C - Citigroup Inc.
After hours:
| Previous close | 44.23 |
| Open | 44.46 |
| Bid | 44.60 x 1800 |
| Ask | 44.74 x 900 |
| Day's range | 43.99 - 44.65 |
| 52-week range | 40.01 - 54.56 |
| Volume | |
| Avg. volume | 19,190,914 |
| Market cap | 86.825B |
| Beta (5Y monthly) | 1.56 |
| PE ratio (TTM) | 6.13 |
| EPS (TTM) | 7.28 |
| Earnings date | 14 Jul 2023 |
| Forward dividend & yield | 2.04 (4.57%) |
| Ex-dividend date | 28 Apr 2023 |
| 1y target est | 57.31 |
Motley FoolCitigroup's Transformation Plan Takes a Disappointing Turn. Is the Investment Thesis Still Intact?
Since the beginning of 2021, Citigroup (NYSE: C) has been working on a multiyear plan to modernize and simplify the bank, focus on better-performing businesses, and ultimately boost returns, which management hopes will lead to a higher valuation and stock price. A key part of this plan had been selling the consumer, small business, and middle-market banking arm in Citigroup's Mexican subsidiary, Citibanamex, which has been a high-performing business. Citigroup has been divesting most of its international consumer banking franchises that lack adequate scale.
ReutersMexico president eyes 'half' of Citi unit amid IPO plan
Mexican President Andres Manuel Lopez Obrador on Friday said the government could acquire up to half of the Mexican unit of Citigroup after the U.S. bank announced plans this week to pursue an initial public offering of the business. Citi said Wednesday it was abandoning earlier plans for a sale of its Mexican unit, known as Banamex, for an IPO, prompting Lopez Obrador to announce that the government could invest in the business and had up to $3 billion to do so. The president, who said the government had expected to earn around $2 billion in taxes from the estimated $7 billion sale of Banamex, returned on Friday to the possibility of taking a large stake alongside Mexican shareholders.
ZacksCitigroup (C) Plans Mexico Banamex IPO, To Resume Buybacks in Q2
Citigroup's (C) IPO of its Banamex business in Mexico is expected to occur in 2025. Share buybacks, paused due to sale uncertainty, will restart in Q2, albeit at moderate levels.
ZacksBank of America (BAC) Plans to Remove 40 IB Positions in Asia
Bank of America (BAC) plans to eliminate nearly 40 positions in Asia's IB division as worsening macroeconomic conditions continue to hamper deal making in the region. The affected employees have been asked to apply for roles in other units.
ZacksHSBC, Citi, 3 Others Likely to be Fined for UK Bond Collusion
Citi (C), Deutsche Bank (DB), HSBC, Morgan Stanley (MS) and Royal Bank of Canada (RY) have allegedly conspired in chat rooms to swap sensitive information on UK bonds between 2009 and 2013.
Motley FoolCitigroup Plans Spin-out, IPO of Mexico-based Banamex
One way or another, Citigroup is ready to bid adiós to its Mexico-based Banamex unit. After an attempt to sell Banamex proved fruitless, Citigroup...
- Financial Times
Citigroup abandons long-planned sale of Banamex to pursue IPO
Citigroup has said it will spin off its Mexican retail bank through an initial public offering, abandoning a plan hatched early last year to sell the unit. The US lender plans to completely separate its Banamex division, which has 38,000 employees and is one of the largest consumer banking franchises in Mexico, by the middle of next year. The bank said an IPO of the unit was likely by the end of 2025.
Yahoo Finance VideoCiti, Petco, Abercrombie & Fitch: Trending stocks
Yahoo Finance markets contributor Remy Blaire discusses trending stocks, including Citigroup announcing it will pursue an IPO for Banamex, Petco stock falling on soft guidance, and Abercrombie & Fitch shares rising after its Q1 earnings beat.
The GuardianMajor banks shared sensitive bonds information in online chats, CMA finds
Traders at five banks found to have discussed British government bond trading between 2009 and 2013
ReutersCitigroup scraps Mexico unit sale, will pursue IPO instead
Citigroup Inc scrapped a $7-billion sale of its Mexican consumer unit and will list it instead, in a surprise move that delays the bank's overhaul and will likely feed into investor anxiety about the country's leftist president. Citi said it plans to list the business, called Banamex, in 2025 and resume a "modest level of share buybacks" this quarter. The bank is considering a dual stock listing, possibly in Mexico City and New York, for the unit, two sources familiar with the matter said.
Business WireCiti to Pursue Initial Public Offering of Its Consumer, Small Business and Middle Market Banking Operations in Mexico as It Executes Strategy to Simplify Firm and Deliver Value to Shareholders
NEW YORK, May 24, 2023--Citi today announced it will pursue an initial public offering (IPO) of its consumer, small business and middle-market banking operations in Mexico (the "Business") following the planned separation of its leading institutional business that will remain part of Citi. As previously disclosed, Citi had been pursuing a dual process to exit the Business, including preparation for a possible IPO, with a commitment to deliver maximum value to its shareholders.
ReutersMexico government open to buying Citigroup's Banamex
Mexican President Andres Manuel Lopez Obrador's administration is studying the possibility of buying a majority of shares in Citigroup's local retail unit known as Banamex, according to a government statement published on Tuesday. Buying it would be "good business," Lopez Obrador said in a press conference earlier, when asked about rumors that one of the bidders, Grupo Mexico's owner German Larrea, was dropping out of the process amid a dispute with the government. Lopez Obrador said he thought about the possibility of creating a public-private association with U.S.-based Citigroup to operate the bank after hearing about Larrea's alleged withdrawal.
Business WireCiti CEO Jane Fraser to Present at Bernstein’s 39th Annual Strategic Decisions Conference
NEW YORK, May 19, 2023--Jane Fraser, Chief Executive Officer of Citi, will present at Bernstein’s 39th Annual Strategic Decisions Conference on Friday, June 2. The presentation is expected to begin at approximately 11:00 a.m. (Eastern). A live webcast will be available at http://www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.
Business WireCitigroup Announces $1.25 Billion Redemption of 4.044% Fixed Rate / Floating Rate Notes due 2024 and $1.0 Billion Redemption of Floating Rate Notes due 2024
NEW YORK, May 17, 2023--Citigroup Inc. is announcing the redemption, in whole, constituting $1,250,000,000 of its 4.044% Fixed Rate / Floating Rate Notes due 2024 (the "fixed rate / floating rate notes") (ISIN: US172967LZ20), and the redemption, in whole, constituting $1,000,000,000 of its Floating Rate Notes due 2024 (the "floating rate notes" and together with the fixed rate / floating rate notes, the "notes") (ISIN: US172967MA69).
ZacksMorgan Stanley (MS) Plans to Cut 7% of Asia-Pacific IB Jobs
A significant slowdown in IB business prompts Morgan Stanley (MS) to cut almost 7% of jobs in the Asia-Pacific region.
ZacksCitigroup Inc. (C) Is a Trending Stock: Facts to Know Before Betting on It
Citigroup (C) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Yahoo FinanceWarren Buffett sells stakes in two banks, buys into Capital One
The Oracle of Omaha has made it clear that he is still cautious about holding many bank stocks.
ZacksBarclays (BCS) Plans to Close Another 15 Banking Branches
Barclays (BCS) intends to close 15 more branches in England, Scotland and Wales in the coming months.
ReutersMexican president: 'No problem' if Grupo Mexico buys Citi's Banamex unit
MEXICO CITY (Reuters) -Negotiations over the sale of Citigroup Inc's Mexican retail bank Citibanamex are "going really well" and the government is upbeat about conglomerate Grupo Mexico's possible purchase, President Andres Manuel Lopez Obrador said Tuesday. Lopez Obrador said the mining and transport conglomerate remains one of the possible buyers of the retail banking unit, also known locally as Banamex. "We have informed Citibanamex's advisers and directors that on the government's end there is no disagreement, there is no problem with this operation going through," Lopez Obrador told a press conference.
Business WireCiti LIBOR Transition Update
NEW YORK, May 12, 2023--On November 14, 2022, ICE Benchmark Administration ("IBA"), the publisher of the USD LIBOR ICE Swap Rate, announced that it intends to cease publication of all ICE Swap Rate settings based on USD LIBOR after June 30, 2023 (the "Cessation Date"). This announcement follows the announcement by the UK Financial Conduct Authority on March 5, 2021, that all USD LIBOR settings will either cease or no longer be representative after the Cessation Date. The USD LIBOR ICE Swap Rate
Yahoo FinanceFed's Waller: Climate change not a 'serious risk' to US financial system
The comments from Federal Reserve Governor Chris Waller come as the central bank tests the resilience of banks under different climate scenarios.
ReutersGrupo Mexico nearing $7 billion deal for Citi's Banamex unit -source
Conglomerate Grupo Mexico is set to buy Citigroup Inc's retail banking operations in Mexico for about $7 billion in a deal that could be announced as early as this week, according to a person familiar with the matter. As part of the deal, Citi will retain a roughly 10% stake in the Banamex unit, the source said, requesting anonymity as the discussions are confidential. Citi could choose to sell the stake to Grupo Mexico, which is controlled by billionaire German Larrea, or other potential buyers in the future, the source said.
Yahoo FinanceThe lender that made nearly $10 billion from Silicon Valley Bank's failure
The earnings for First Citizens were second in the banking industry behind JPMorgan Chase.
Business WireCiti Retail Services Expands Embedded Payment Capabilities with Citi Pay
NEW YORK, May 10, 2023--As a leader in U.S. payments, Citi Retail Services, one of North America's largest and most experienced retail payments and credit solution providers, is expanding its embedded payments strategy with its suite of Citi Pay® products. Designed with customers and merchants in mind, the new family of products will deliver a digital-first, consumer finance journey in partner checkout processes.