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Citigroup $C Opening ITM sweeper in to the 12/15/23 $42 CALLS ~ $1.2 mil premium
By: FLOWrensics | September 18, 2023
• $C Opening ITM sweeper in to the 12/15/23 $42 CALLS ~ $1.2 mil premium
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Citigroup shares climb following reorganization plan announcement
By: Investing.com | September 13, 2023
Citigroup Inc. (NYSE:C) shares experienced an uptick on Wednesday, following CEO Jane Fraser's announcement of a new reorganization plan for the company. Currently operating with two divisions, the financial services corporation is set to undergo a significant transformation into five separate divisions, all of which will report directly to the CEO.
Fraser said that this reorganization aims to streamline the business operations and increase accountability within the company.
Despite the positive reception from the market, there are concerns about potential job cuts that may arise due to this restructuring. The extent of these job cuts and their impact on the company's workforce remains unclear at this stage.
The announced changes mark a pivotal point in Citigroup's strategic direction under Fraser's leadership, as she continues to implement measures aimed at enhancing operational efficiency and accountability within the corporation.
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Citigroup $C Currently speaking at Barclays Conf ~ Opening ITM PUT WRITER into the 09/15 $43 PUTS at the BID
By: FLOWrensics | September 13, 2023
• $C Currently speaking at Barclays Conf ~ Opening ITM PUT WRITER into the 09/15 $43 PUTS at the BID.
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Citigroup can't even trade green when the broader market has a strong day
By: Barchart | September 11, 2023
• Citigroup $C can't even trade green when the broader market has a strong day.
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Citigroup $C closed at its lowest price since October 2022. This chart is looking a bit concerning!
By: Barchart | September 8, 2023
• Citigroup $C closed at its lowest price since October 2022. This chart is looking a bit concerning!
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Citigroup $C closed at its lowest price of the year and is hovering at 3-year lows
By: Barchart | September 7, 2023
• Citigroup $C closed at its lowest price of the year and is hovering at 3-year lows.
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Citigroup $C Call Sweepers Showing Some Activity Today
By: Cheddar Flow | September 1, 2023
• $C Call Sweepers Showing Some Activity Today
Bank names have been weak in terms of flow lately
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Citigroup $C closes at its lowest price since October 2022. Watch out if this 40 level breaks though as shares will hit multi-year lows
By: Barchart | August 22, 2023
• Citigroup $C closes at its lowest price since October 2022. Watch out if this 40 level breaks though as shares will hit multi-year lows.
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Citigroup mulls plan to split its largest division - source
By: Investing.com | August 21, 2023
(Reuters) -Citigroup is considering plans to reorganize the bank's biggest division after its leader Paco Ybarra leaves next year in a move to further simplify the bank, according to a source familiar with the situation.
The bank is unlikely to replace Ybarra, the head of its Institutional Clients Group (ICG), the source said on Monday. Instead, the leaders of its three business segments - investment banking, global markets and transaction services - would report directly to CEO Jane Fraser.
The plans are still being considered and have not been finalized, the source said.
The discussions were reported earlier by the Financial Times.
The ICG unit provides financial services to institutional investors and governments. It generated more than half of Citi's $19.4 billion revenue in the second quarter.
"The possibility of a reorg introduces some uncertainty into what is already a complex turnaround," R. Scott Siefers, an analyst at Piper Sandler, wrote in a note.
The change in reporting lines directly to the CEO "would preserve strategic continuity, streamline layers, and presumably eliminate the possibility of a new head who might want to pivot the unit’s direction," he wrote.
Ybarra is set to leave in the first half of 2024, according to an internal memo seen by Reuters earlier this month. The company also said at the time it was determining how to pass on his responsibilities while simplifying its organizational structure in the coming months.
Citigroup (NYSE:C) declined to comment on the report.
Its shares fell 0.6% alongside a broader decline in the S&P bank index, which dropped 0.5% in Monday trading.
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Citigroup Inc. $C Total Debt (mrq) $574.97B
Davidson Investment Advisors Grows Holdings in Citigroup Inc. (C)
By: MarketBeat | July 21, 2023
• Davidson Investment Advisors raised its holdings in Citigroup Inc. (NYSE:C) by 40.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 391,149 shares of the company's stock after purchasing an additional 112,873 shares during the quarter. Citigroup comprises approximately 1.2% of Davidson Investment Advisors' portfolio, making the stock its 21st largest holding. Davidson Investment Advisors' holdings in Citigroup were worth $18,341,000 as of its most recent SEC filing...
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Potential Squeeze set-up in Citigroup $C. Look for the green dot to show for confirmation. Since it's showing in multiple timeframes, the move COULD be explosive.
By: Barchart | July 19, 2023
• Potential Squeeze set-up in Citigroup $C. Look for the green dot to show for confirmation. Since it's showing in multiple timeframes, the move COULD be explosive.
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Citigroup, Inc. $C This report was not great, they sold it hard. 45 area some support, then 44
By: Options Mike | July 16, 2023
• $C This report was not great, they sold it hard. 45 area some support, then 44.
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Citi CEO: "Markets revenues were down from a strong Q2 last year, as clients stood on the
sidelines starting in April while the US debt limit played out
By: The Transcript | July 14, 2023
Citi CEO: "Markets revenues were down from a strong Q2 last year, as clients stood on the
sidelines starting in April while the US debt limit played out. In Banking, the long-awaited rebound in IB has yet to materialize, making for a disappointing quarter."
$C: +1% PM
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Citigroup profits slip on dealmaking slowdown, staff reduction costs
By: investing.com | July 14, 2023
Citigroup (NYSE:C) has reported a fall in second-quarter profits as a slowdown in dealmaking that hit its investment banking unit countered a boost from its personal banking business.
The New York-based bank posted $2.9B in net income, falling from $4.5B in the corresponding timeframe last year.
Revenue also slipped to $19.44B, a decline of 1% annually, as expansion in Citi's U.S. personal banking division was countered by weakness at its investment banking and markets unit. Markets revenue declined by 13% to $4.6 billion and investment banking fees slumped by almost a fourth to $612M.
The downturn was partly offset by personal banking and wealth management, where revenue jumped by 6% to $6.4B.
In June, Citi slashed 5,000 jobs, representing about 2% of its overall staff, mostly in the investment banking and trading businesses. Severance costs from these layoffs negatively impacted the group's latest quarterly earnings.
Citi Chief Executive Jane Fraser flagged a "challenging macroeconomic backdrop," but said the company "continued to see the benefits of our diversified business model and strong balance sheet."
Shares in Citi rose in premarket U.S. trading on Friday.
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Citi $C Just Reported Earnings
By: Savvy Trader | July 14, 2023
• CITI $C JUST REPORTED EARNINGS
EPS $1.33 beating expectations of $1.30
Revenue of $19.4B beating expectations of $19.3B
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Earnings Preview: Citigroup Inc. (NYSE: C)
By: 24/7 Wall St. | July 12, 2023
• No earnings reports of note are due out late Thursday, but Friday morning will be the unofficial kick-off for this earnings season, with five major U.S. financial institutions reporting quarterly results.
Citigroup
The fifth-largest U.S. bank (by market cap), Citigroup Inc. (NYSE: C) stock has added just 0.7% to its share price over the past 12 months. The bank surprised to the upside for both revenue and EPS in the March quarter and has beaten the Street revenue estimate for nine consecutive quarters. Citi’s share price has barely changed since the end of March, although there have been some ups and downs. Loan volumes are a concern going forward, as is a drop in M&A activity.
Of 24 brokerages covering the company, just 8 have a Buy or Strong Buy rating on the shares, and 15 have a Hold rating. At a current price of around $46.50, the upside potential based on a median price target of $50.00 is 7.5%. At the high price target of $84.00, the upside potential is about 80.6%.
Second-quarter revenue is forecast at $19.35 billion, down 9.8% sequentially and down 1.5% year over year. Adjusted EPS is forecast at $1.41, down 35.4% sequentially and down 38.7% year over year. For the full 2023 fiscal year, analysts are currently forecasting EPS of $5.97, down 16%, on revenue of $78.9 billion, up 4.7%.
Citigroup stock trades at a multiple of 7.8 times expected 2023 EPS, 7.3 times estimated 2024 earnings of $6.38, and 6 times estimated 2025 earnings of $7.76. The stock’s 52-week range is $40.01 to $54.56, and Citi pays an annual dividend of $2.04 (yield of 4.38%). Citi’s total return to shareholders for the past year was 5.06%.
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Citigroup $C - TW Pivot sell signal on Citigroup as bulls get stuffed at wedge resistance, weak day from the banks all around.
By: TrendSpider | June 14, 2023
• $C TW Pivot sell signal on Citigroup as bulls get stuffed at wedge resistance, weak day from the banks all around.
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Citi CFO says expenses will grow on Q2 as consequence of 1,600 headcount reduction
By: Investing.com | June 14, 2023
NEW YORK (Reuters) - Citigroup Inc (NYSE:C) in the second quarter will book severance costs associated with around 1,600 job cuts, chief financial officer Mark Mason said on Wednesday.
Speaking at a conference in New York, Mason said the bank's expenses in the second quarter will be $300 million to $400 million higher than the first quarter, "largely attributed to those restructuring or repositioning charges that I had to incur."
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Citigroup, Inc. (C) IF banks go, this one has been leading. 49.5-50 in play if banks are the new rotation
By: Options Mike | June 11, 2023
• $C IF banks go, this one has been leading. 49.5-50 in play if banks are the new rotation.
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Citigroup Inc. $C Total Debt (mrq) $634.04B
Citigroup (C) $1.8 Million Put • Strike: 41 • Expiration: 1/19/24
By: Cheddar Flow | May 24, 2023
• $C $1.8M OTM Put
Strike: 41
Expiration: 1/19/24
*Above the Ask*
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Citigroup $C Opening sweepers in to the 06/16 $43 PUTS
By: FLOWrensics | May 24, 2023
• $C Opening sweepers in to the 06/16 $43 PUTS
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Citigroup, Inc. (C) Solid move off a good report, little extended here, but 50.5 back in play would complete the move back pre crisis
By: Options Mike | April 16, 2023
• $C Solid move off a good report, little extended here, but 50.5 back in play would complete the move back pre crisis.
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Options Bulls Swarm Citigroup (C) Stock Post-Earnings
By: Schaeffer's Investment Research | April 14, 2023
• The security is trading at its highest level since early March
• C looking to topple its 40-day moving average
The shares of Citigroup Inc (NYSE:C) are up 2.8% to trade at $48.63 at last check, after the bank giant reported better-than-expected first-quarter earnings of $1.86 per share and a revenue win of $21.45 billion. The company attributed the results to higher interest rates, with net interest income jumping 23% to $13.3 billion, though it set aside $241 million to cover potential loan losses.
Options bulls are not holding back, with 89,000 calls across the tape so far, which is five times the intraday average, compared to 32,000 puts. Most popular by far is the June 55 call.
The shares are today trading at their highest level since early March, and eyeing their first close above the 40-day moving average in several weeks as they pace for their fifth daily win in six sessions. C is up 7.8% in 2023, and added 12.7% over the past six months.
Analysts still lean bearish toward Citigroup stock, leaving plenty of room for upgrades to roll in moving forward. Of the 18 in coverage, 12 call the security a tepid "hold" or worse.
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Earnings Preview: Citigroup Inc. (NYSE: C)
By: 24/7 Wall St. | April 12, 2023
• Here are previews of three of the nation’s largest banks, all on deck to report quarterly results before U.S. markets open on Friday.
Citigroup
The fifth-largest U.S. bank (by market cap), Citigroup Inc. (NYSE: C) stock has added about 4.7% to its share price over the past 12 months. Since March 9, the day that Silicon Valley Bank began to show signs of its impending failure, Citi stock has retreated by 7.6%, about in the middle of the losses posted since that date by the biggest U.S. banks.
The big question for banks heading into this earnings season is whether they can remain profitable in the face of slower lending growth, increased saving and higher credit costs. All these issues will affect share buybacks as well. Citi recently said it expected net interest income for the 2023 fiscal year to come in at around $45 billion, some $5 billion short of the consensus estimate.
Of 24 brokerages covering the company, nine have a Buy or Strong Buy rating and 14 have Hold ratings. At a recent price of around $47.20 a share, the upside potential based on a median price target of $53.00 is 12.3%. At the high price target of $75.00, the upside potential is about 58.9%.
First-quarter revenue is forecast at $20.09 billion, which would be up 11.6% sequentially and by 4.7% year over year. Adjusted earnings per share (EPS) are forecast at $1.68, up 44.7% sequentially but down 20.2% year over year. For the full 2023 fiscal year, analysts anticipate EPS of $5.90, down 17.1%, on revenue of $77.89 billion, up 3.4%.
Citigroup stock trades at 8.0 times expected 2023 EPS, 7.1 times estimated 2024 earnings of $6.67 and 6.2 times estimated 2025 earnings of $7.56. The stock’s 52-week trading range is $40.01 to $54.56, and Citi pays an annual dividend of $2.04 (yield of 4.39%). Its total return to shareholders for the past year was negative 2.66%.
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Unusual Options Activity In Citigroup Signals An Investor's Bearish Outlook
By: Barchart | April 6, 2023
Unusual put option activity in Citigroup (C) stock signals a large investor's bearish view in the bank over the next several months. This is seen in Barchart's Unusual Stock Options Activity Report today, Thursday, April 6.
The Report shows a trade for over 3,000 puts was made at the $36.00 strike price for an expiration period of June 16, which is 71 days from now. This strike price is over 21.7% below today's price of $45.99 per share. Given how long the expiration period is from today and the low strike price, I assume that the initiating investor was likely a long-put buyer.
The reason is very simple. If you think a stock is going to fall, and you buy puts to make money on it, you want at least several months for this to play out. In this case, there is 2 months and 10 days for C stock to fall over 21.7% before the investor begins to make money.
In fact, since the premium paid was 41 cents, the long-put investor's breakeven point is $35.59 per share. That means Citigroup stock has to drop 22.6% from today.
Citigroup (C) Puts Expiring June 16 - Barchart Unusual Stock Options Report
Obviously, the investor expects to make good money on this trade, so they probably think the stock will drop significantly from here. For example, the investor paid 41 cents for 3,000 put contracts, which cost $123,000. Unless the stock falls below $36.00 on or before June 16, it's not likely that the investor will be able to keep any of that money.
However, keep in mind that the investor does not have to wait until June 16 to make a good return. For example, if Citigroup stock falls 10% from here within the next month, there is a good chance that the option premium could skyrocket. At that point, the investor will likely take profits.
In fact, this trade is likely simply a play on the bank's upcoming earnings report for Q1 due out next Friday, April 14, before the market opens. They probably expect numbers to emerge that will tank the stock. Let's look at that possibility.
Citigroup's Outlook
Citigroup stock trades at a significant discount to its tangible book value per share, $81.65 as of Dec. 31, according to the bank's financial supplement last quarter. At $45.99, this puts the ratio well below 1.0x, at 56.3% (i.e., $45.99/$81.65).
But the problem is many of the loans on the bank's balance sheet have likely deteriorated in quality. The bank has to recognize this and increase its reserves, which reduces the book value. That will raise the price-to-book value ratio, which could hurt C stock.
Moreover, investors may not feel that the bank's profitability will continue as strong going forward. Citigroup's net interest income spread could be compressed with higher interest rates. As it stands, analysts now project $5.91 earnings per share for 2023, which is 15.6% below 2022's $7.00 EPS. That puts C stock on a forward multiple of 7.8x.
But if the U.S. economy hits a recession, earnings could turn negative for the bank and its book value could turn down even further.
Nevertheless, at this point, Citigroup stock seems to be moderately priced, given the information that investors have now. In addition, C stock has a very ample 4.46% dividend yield, which will work to protect the stock from tanking very deeply.
This means that the long-put investor in C put options must be expecting much worse financial data and outlook for the bank. They have given themselves plenty of time for this to work out. For example, if the Federal Reserve keeps hiking rates over the next several months, that could add to concerns about Citigroup's valuation.
The bottom line is that at this point, with this trade the investor has a very bearish outlook on C stock, but they have plenty of time for the trade to work out.
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Citigroup, Inc. (C) Leading back up here. 200D next test then can run back to the 50D if they want it
By: Options Mike | April 2, 2023
• $C Leading back up here. 200D next test then can run back to the 50D if they want it.
8D would like to see as support on a pullback now.
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Citigroup $C **SIZE** #darkpool activity ~ 6.20 million shares at $44.78
By: Money Flow Mel | March 27, 2023
• $C **SIZE** #darkpool activity ~ 6.20 million shares at $44.78.
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Citigroup, Inc. (C) Has been a stronger bank, also held the 200D
By: Options Mike | March 12, 2023
• $C Has been a stronger bank, also held the 200D. IF we bounce you can use that a s support or Friday's low.
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Citigroup, Inc. (C) Leading. Nice move here, takes out the earnings high then 53.5 next target
By: Options Mike | March 4, 2023
• $C Leading. Nice move here, takes out the earnings high then 53.5 next target.
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