The J.P. Morgan building in Central Hong Kong, in Hong Kong, China, on March 6, 2022. (Photo by ... [+] Marc Fernandes/NurPhoto via Getty Images)NurPhoto via Getty ImagesJPMorgan’s stock (NYSE: JPM) has gained approximately 17% YTD, as compared to the 14% rise in the S&P500 over the same period. Notably, JPMorgan’s peer Citigroup (NYSE: C) is up 20% YTD. Overall, at the current market price of $199, JPM stock is trading 4% below its fair value of $208 – Trefis’ estimate for JPMorgan’s valuation. Amid the cu ...

Citigroup (C) closed at $61.58 in the latest trading session, marking a +0.39% move from the prior day. The stock exceeded the S&P 500, which registered a gain of 0.09% for the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq gained 0.16%.Shares of the U.S. bank witnessed a loss of 3.52% over the previous month, trailing the performance of the Finance sector with its gain of 0.26% and the S&P 500's gain of 2.83%.The upcoming earnings release of Citigroup will be of great interest to inves ...

Nils Versemann/iStock Editorial via Getty Images Citigroup (NYSE:C)(NEOE:CITI:CA) is in an interesting spot. Over many years, it has underperformed considerably against peers such as JPMorgan (JPM), Bank of America (BAC), and recently Wells Fargo (WFC) in terms of stock appreciation and relevant metrics for a bank. However, the aggressive restructuring plan that CEO Jane Fraser and CFO Mark Mason are implementing might help lay the first bricks to turn around the situation and stick closer to its peers ...

Jane Fraser, CEO of Citigroup, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday, September 22, 2022.Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of four of the eight largest American lenders.The Federal Reserve and the Federal Deposit Insurance Corporation said that the so-called living wills — plans for unwinding huge institutions in the event of d ...

Citigroup, Inc.’s (C) ‘living will,’ which outlines the company's plans for winding down in the event of a catastrophic event, was rejected by U.S. banking regulators. In a meeting, most of a five-member Federal Deposit Insurance Corporation (“FDIC”) board decided not to approve the company’s resolution plan, citing ‘deficient’ data controls.As part of the measures implemented after the 2008 financial crisis, the largest banks in the country are mandated to have these kinds of plans in place to protect the ...

As part of Citigroup Inc.’s (C) broader strategy, it has launched Citi Commercial Bank (CCB) in Japan with an aim to expand its commercial banking in key growth areas across certain clusters. This launch follows CCB’s introduction in France and Ireland in 2023, preceded by its launch in Germany, Switzerland and Canada in 2022.C’s existing banking capabilities, which assist large Japanese corporations and worldwide multinational corporations operating in Japan, are enhanced by the new launch. Citi will suppo ...

At recent investors day, Citigroup Inc. (C) provided an outlook for investment banking (“IB”) fees. The bank forecasted a 50% increase in IB fees for the second quarter of 2024 on a year-over-year basis. The improved projections for merger advisory and debt and equity underwriting were the primary reasons behind this upbeat view.Further, Citigroup expects market revenues to be ‘flat to down marginally.’ Also, net interest income, excluding market business, is expected to be "modestly down."As per Bloomberg ...

Citigroup is reportedly putting its services business at the forefront of its upgrade project, highlighting how the global movement of money can enhance profitability.The services business, one of the bank’s five newly formed divisions, will be the focus of an investor day at Citigroup’s Manhattan headquarters on Tuesday (June 18), Bloomberg reported Monday (June 17).During the event, Citigroup CEO Jane Fraser and Chief Financial Officer Mark Mason will present the restructuring plans, drawing attention to ...

It’s true that, with the interest rate on 10-year Treasury bonds still trading around 4.2%, stock dividends aren’t nearly as important or valuable as they once were. After all, a risk-free yield of 4.2% makes even 5% dividend yields look unimpressive. And it is possible to buy low-risk corporate bonds that yield 6%-plus. Still, high-quality stocks with significant dividend yields offer a combination of yields and high, potential capital appreciation that bonds cannot match. Moreover, recent economic data su ...

Citigroup Inc. (C) plans to introduce Citi’s first-of-its-kind 24/7 USD Clearing service in the Middle East in collaboration with Emirates NBD — a leading banking group in the Middle East, North Africa and Türkiye region. This collaboration makes the company’s cross-border 24/7 USD payments available to Emirates NBD’s corporate and retail clients 24 hours, end to end across its branch network.The partnership came across as a significant milestone for Citi's 24/7 USD Clearing multibank service for its bank c ...