C - Citigroup Inc.
Pre-market:
| Previous close | 44.70 |
| Open | 44.20 |
| Bid | 44.01 x 1400 |
| Ask | 44.78 x 1400 |
| Day's range | 43.71 - 44.41 |
| 52-week range | 40.01 - 54.56 |
| Volume | |
| Avg. volume | 19,118,284 |
| Market cap | 86.28B |
| Beta (5Y monthly) | 1.56 |
| PE ratio (TTM) | 6.09 |
| EPS (TTM) | 7.28 |
| Earnings date | 14 Jul 2023 |
| Forward dividend & yield | 2.04 (4.56%) |
| Ex-dividend date | 28 Apr 2023 |
| 1y target est | 57.31 |
ReutersExclusive-Mexico mulls benefits of Banamex purchase, eyes synergies with state bank
Mexico is evaluating whether buying Citigroup Inc's Mexican consumer unit would help boost financial inclusion, potentially in combination with a state-run bank such as the Banco del Bienestar, a top finance ministry official said. U.S. lender Citigroup scrapped its sale of the Banamex unit last week and said it will instead list it, a surprise move coming amid talks to sell the business to Mexican billionaire German Larrea's conglomerate Grupo Mexico. "The Finance Minister has asked us to evaluate the different scenarios in which it might be beneficial for Mexico to acquire the bank," Deputy Finance Minister Gabriel Yorio told Reuters.
Business WireCiti Wins Multiple 2023 Digital CX Awards from the Digital Banker
NEW YORK, May 31, 2023--Citi Treasury and Trade Solutions (TTS) has won top honors in two transaction banking categories at the fifth annual Digital CX Awards 2023, hosted by The Digital Banker -- dedicated to recognizing pioneering innovation in Digital Customer Experience (CX) across the financial services ecosystem. Citi placed first in the World’s Best Transaction Bank for Digital CX and Outstanding Digital CX – Bank Cards categories.
ZacksCitigroup (C) Stock Moves 0.22%: What You Should Know
Citigroup (C) closed at $44.70 in the latest trading session, marking a +0.22% move from the prior day.
ZacksCitigroup Inc. (C) is Attracting Investor Attention: Here is What You Should Know
Recently, Zacks.com users have been paying close attention to Citigroup (C). This makes it worthwhile to examine what the stock has in store.
WSJHow Jamie Dimon Turned Chase Into the Most Powerful Bank in the U.S.
When JPMorgan Chase bought First Republic Bank in May, all eyes were on its CEO, Jamie Dimon. Here’s how the executive’s strategy for managing risk propelled him to the top of the banking world. Photo illustration: John McColgan
- Financial Times
Citigroup: cheap or hopeless?
The banks’ low return on equity, stock market underperformance and low valuation made the point irrefutable, even if its leadership could not say it out loud. A year or so later Citi appointed a new chief executive, Jane Fraser, who has proceeded to initiate many of the changes discussed in my piece (I can’t claim she was inspired by my work, brilliant though it was. Most importantly, she set about divesting Citi of much of its global consumer banking franchise, which had no synergies with its best businesses, which are transaction banking, credit cards, and fixed-income markets.
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.
