John Hjorth Posted January 16, 2019 Share Posted January 16, 2019 ourkid, I'll wrap it up in Excel, when we have the 10-K, and post it here, attached. Link to comment Share on other sites More sharing options...
John Hjorth Posted January 27, 2019 Share Posted January 27, 2019 Here is is a calculated 2017 - 2018 survey of earnings and other key metrics for the Big Four US banks. Link to comment Share on other sites More sharing options...
John Hjorth Posted February 1, 2019 Share Posted February 1, 2019 Barrons - Alexandra Scaggs [February 1st 2019] : Citigroup Says It Is Planning To Fix Its Preferred-Stock Problem. [Here outlined.] Personally, I have never read about this before. Link to comment Share on other sites More sharing options...
John Hjorth Posted June 27, 2019 Share Posted June 27, 2019 Citigroup [June 27th 2019] Citi Announces 2019 Planned Capital Actions. Quarterly common stock dividend per share up from USD 0.45 to USD 0.51, and share repurchases in the next CCAR cycle of up to USD 17.1 B, a total of USD 21.5 B during the 2019 CCAR cycle. Link to comment Share on other sites More sharing options...
ourkid8 Posted June 27, 2019 Share Posted June 27, 2019 It's pretty much the same as last year which is rather disappointing. Since the stock is under book, I would have preferred for C to up their share repurchase program while keeping the dividend flat. I am not impressed. Citigroup [June 27th 2019] Citi Announces 2019 Planned Capital Actions. Quarterly common stock dividend per share up from USD 0.45 to USD 0.51, and share repurchases in the next CCAR cycle of up to USD 17.1 B, a total of USD 21.5 B during the 2019 CCAR cycle. Link to comment Share on other sites More sharing options...
John Hjorth Posted June 27, 2019 Share Posted June 27, 2019 It's pretty much the same as last year which is rather disappointing. Since the stock is under book, I would have preferred for C to up their share repurchase program while keeping the dividend flat. I am not impressed. I somehow agree with you, ourkid, Upping the buybacks instead of the dividends would also be my preference. The most important thing is still the bank's progress. Link to comment Share on other sites More sharing options...
John Hjorth Posted July 15, 2019 Share Posted July 15, 2019 Citigroup Inc. Press Release [July 15th 2019] : Second Quarter 2019 Results and Key Metrics. Looks to me like C is just continuing doing its thing, minding its own business. So far, it seems to be on track on its promises. Like that talkinghead Chief Engineer under the launches by SpaceX, looking to the right at the screen of his Mac : "... aand trajectory looks nominal!" Link to comment Share on other sites More sharing options...
fareastwarriors Posted September 15, 2019 Share Posted September 15, 2019 Citigroup stands by card strategy despite economic clouds https://www.reuters.com/article/us-citigroup-cards-focus/citigroup-stands-by-card-strategy-despite-economic-clouds-idUSKCN1VR15C Link to comment Share on other sites More sharing options...
ERICOPOLY Posted March 18, 2020 Share Posted March 18, 2020 I noticed this bank was down yesterday while JPM, WFC, BAC all had a big day. It's also dropping more than the rest today. I wonder if the market is beginning to single this one out from the herd. Link to comment Share on other sites More sharing options...
fareastwarriors Posted September 10, 2020 Share Posted September 10, 2020 Citi CEO Michael Corbat Announces Plans to Retire in February 2021 Board of Directors Selects Jane Fraser to Succeed Corbat as CEO https://www.citigroup.com/citi/news/2020/200910a.htm Link to comment Share on other sites More sharing options...
fareastwarriors Posted September 14, 2020 Share Posted September 14, 2020 Regulators Prepare to Reprimand Citigroup for Failing to Improve Risk Systems https://www.wsj.com/articles/regulators-prepare-to-reprimand-citigroup-for-failing-to-improve-risk-systems-11600107587?mod=searchresults&page=1&pos=1 https://www.reuters.com/article/businessNews/idUSKBN26537L Link to comment Share on other sites More sharing options...
StubbleJumper Posted September 14, 2020 Share Posted September 14, 2020 Regulators Prepare to Reprimand Citigroup for Failing to Improve Risk Systems https://www.wsj.com/articles/regulators-prepare-to-reprimand-citigroup-for-failing-to-improve-risk-systems-11600107587?mod=searchresults&page=1&pos=1 https://www.reuters.com/article/businessNews/idUSKBN26537L Oh, oh, oh! Do we have a new whipping-boy to replace WFC? SJ Link to comment Share on other sites More sharing options...
fareastwarriors Posted September 15, 2020 Share Posted September 15, 2020 Citigroup to Resume Job Cuts After Pausing for Pandemic Cuts will affect less than 1% of lender’s global workforce Firm sees revenue decline, faces possible regulatory actions https://www.bloomberg.com/news/articles/2020-09-14/citigroup-to-resume-cutting-jobs-ending-pause-during-pandemic?srnd=premium Link to comment Share on other sites More sharing options...
Junto Posted September 16, 2020 Share Posted September 16, 2020 This stock is starting to look oversold at these levels. If share buybacks are allowed like JPM is hinting towards in Q4 at any level, this should be the focus of the company. Huge discount to tangible book. Would be best return for dollar in the business. There are other issues going on with regulatory reviews and risk management discussions as reported by WSJ and Barrons this week. I think these are being escalated given the sensitivities in the market versus the actual levity of the problem. I could be wrong but looks like a good value. Not as good as Wells Fargo but still value. Link to comment Share on other sites More sharing options...
fareastwarriors Posted September 16, 2020 Share Posted September 16, 2020 Activist ValueAct played a key role in speeding up Citigroup CEO’s retirement, sources say https://www.cnbc.com/2020/09/16/activist-valueact-played-a-key-role-in-speeding-up-citigroup-ceo-michael-corbats-retirement-sources-say.html Link to comment Share on other sites More sharing options...
John Hjorth Posted September 16, 2020 Share Posted September 16, 2020 It doesn't matter here what Valueact has done on the inner lines. Mr. Corbat has transformed - over the years - what was a train wreck of a bank - to a bank with some challenges. [Losses incurred during that "clean-up" period : USD 64.8 B!] I would say : "Well done!" I hope Ms. Fraser will continue the ongoing work to make C a better bank. Link to comment Share on other sites More sharing options...
JPerez Posted September 17, 2020 Share Posted September 17, 2020 I also think that Mr. Corbat has done a decent job at the helm of Citigroup. He inherited a mess after the financial crisis and what I consider was terrible mismanagement on the Vikram Pandit years. Mr. Corbat simplified the bank and made it much safer. He recovered well from the fail CCAR test in 2014, and was able to repurchase over 30% of the outstanding shares in the last 4 years. Banks have such a tough job these days. You have analysts and investors giving Corbat a hard time every quarter for not reducing expenses enough and now that it transpires that they have an issue migrating systems to a more modern platform (for which they are investing 1B this year alone), the same people complains that they didn't invest enough. Another example is this week when the CFO said that they expected to build some more reserves this quarter although at a significant lower rate than previous quarters, the analysts didnt like this because other banks have hinted that they will stop building reserves. At the end of the day with the new accounting these reserves are only a rough estimation based in models for all the future expected losses of the loans in the books. Actual charge offs have been very muted in this recession so far for all the banks. So if you are conservative and build reserves you get punished now and if you are not reserving enough you get complimented now but you would get punished on the other end when it becomes clear you didn't do enough. Link to comment Share on other sites More sharing options...
fareastwarriors Posted October 7, 2020 Share Posted October 7, 2020 Citigroup fined $400 million by U.S. regulators for 'longstanding deficiencies' https://www.reuters.com/article/us-usa-citigroup-enforcement/citigroup-fined-400-million-by-u-s-regulators-for-longstanding-deficiencies-idUSKBN26S3DN Link to comment Share on other sites More sharing options...
fareastwarriors Posted February 16, 2021 Share Posted February 16, 2021 Citigroup cannot recoup Revlon payouts after nearly $900 million gaffe: U.S. judge https://www.reuters.com/article/us-citigroup-revlon-lawsuit/citigroup-cannot-recoup-revlon-payouts-after-nearly-900-million-gaffe-u-s-judge-idUSKBN2AG1TJ smh Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now