Latest news with #CitiGroup
Globe and Mail
a day ago
- Business
- Globe and Mail
Should You Buy Citigroup While It's Below $76?
Citigroup (NYSE: C) is one of the best-known banks in the United States and probably the world. But it doesn't have the best history when it comes to dealing with adversity, given its less-than-impressive performance during the Great Recession. Even though it is a much different company today than it was back then, investors can probably do better. Here's why and how. What does Citigroup do? Citigroup is a bank, providing basic financial services to consumers and businesses. This is the core of its business. However, it also operates in the investment banking, wealth management, and markets spaces. The business is not significantly different from any of its largest peers, though it is important to note that Citigroup is more than just a simple bank. That said, it is just as important to take a little historical journey with Citigroup. That's because it allowed itself to get caught up in the housing market meltdown that happened during the Great Recession. It was forced to take a government bailout, and it cut its dividend. Neither the share price nor the dividend are back to the levels seen prior to the Great Recession. So nearly 15 years after the event, shareholders are still deeply underwater. To be fair, Citigroup is not the same company it was back then. It is more financially secure and is being operated more prudently. And yet the stock price has bumped repeatedly up against the $76 or so price level over the past decade only to fall back lower. With the stock price back up near that level, should investors buy on the hope that it will break through what appears to be an emotionally-driven price cap? Data by YCharts. There are better options than Citigroup The first concern that investors should probably have right now is related to the U.S. economy. There are legitimate worries that current tariff and tax policies could lead to a period of weakness. If that includes a recession, Citigroup stock will probably head lower again. That said, it seems unlikely that a recession will have the same impact on the business as did the Great Recession. So this risk is legitimate, but probably not something that should stop you from buying Citigroup in and of itself. That's where another important factor comes up -- the dividend. Citigroup currently offers a yield of around 3%. The average bank is yielding around 2.7%. That's a clear yield advantage, but you can actually do better if you buy Toronto-Dominion Bank (NYSE: TD) and its 4.4% yield. Given that one of the key reasons to buy Citigroup is the dividend, this is an important comparison to consider. One big difference between these two equally large North American banks is that TD Bank, as it is more commonly known, didn't cut its dividend during the Great Recession. That's because Canadian banks like TD Bank face more rigid regulations in their home market and, thus, tend to operate with more conservative business models. And that is an important fact to consider today because TD Bank is suffering through a self-imposed wound. TD bank's U.S. business was used to launder money. It paid a large fine, is working to upgrade its internal controls, and is under an asset cap until regulators are happy with the new controls. Its core Canadian business is unaffected by the asset cap (which effectively means the U.S. business can't grow until the cap is lifted) but overall growth will be slower for a few years than it has been historically. The U.S. business was expected to be TD Bank's growth engine. This is not good news, but it will likely pass in time. And that's the opportunity because investors have reacted by dumping TD Bank's stock. This has pushed the yield up toward historical highs and created a long-term opportunity for dividend investors (and turnaround investors). Investors can take comfort in the fact that, despite the headwinds, TD Bank increased its dividend yet again at the start of 2025. It was a modest hike, but the point of the increase was to signal that the bank was down, but not out. Even Citibank below $76 isn't as compelling as TD Bank There's nothing inherently wrong with Citigroup. Investors probably wouldn't be making a huge mistake to buy it even as it bounces up against a stock price ceiling it has hit several times before. But with a yield of around 3%, investors can do much better with TD Bank and its 4.4% yield and turnaround potential as it recovers from a self-inflicted wound. While economic concerns will impact both of these large banks, TD Bank appears to offer more opportunity for income and capital appreciation today. Should you invest $1,000 in Citigroup right now? Before you buy stock in Citigroup, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Citigroup wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor 's total average return is979% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025
Reuters
26-05-2025
- Business
- Reuters
Citi appoints Thakker head of corporate bank for South and Southeast Asia, memo shows
SINGAPORE, May 26 (Reuters) - Citigroup (C.N), opens new tab has appointed Prashant Thakker head of the corporate bank for South- and Southeast Asia, according to an internal memo. The appointment as head of Asia South Corporate Bank is effective immediately, the memo seen by Reuters on Monday showed. Citi's Asia South markets comprise India, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Bangladesh and Sri Lanka. Thakker will oversee the business strategy, financial performance, talent development and execution for Citi's Asia South Corporate Bank across local corporate, financial institution, public sector and global network banking businesses, the memo showed. A Citi spokesperson confirmed the contents of the memo. Thakker, who joined Citi in 2007 as a banker in India and moved to Hong Kong in 2013, currently heads Citi's Capital Management for Japan, Asia North and Australia and Asia South and will relocate to Singapore, according to the memo. He will report to Jason Rekate and John Chirico, both Global Co-Heads of Corporate Banking, and Amol Gupte, Head of Asia South Cluster, the memo showed.
Yahoo
26-05-2025
- Business
- Yahoo
Citi appoints Thakker head of corporate bank for South and Southeast Asia, memo shows
SINGAPORE (Reuters) - Citigroup has appointed Prashant Thakker head of the corporate bank for South- and Southeast Asia, according to an internal memo. The appointment as head of Asia South Corporate Bank is effective immediately, the memo seen by Reuters on Monday showed. Citi's Asia South markets comprise India, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, Bangladesh and Sri Lanka. Thakker will oversee the business strategy, financial performance, talent development and execution for Citi's Asia South Corporate Bank across local corporate, financial institution, public sector and global network banking businesses, the memo showed. A Citi spokesperson confirmed the contents of the memo. Thakker, who joined Citi in 2007 as a banker in India and moved to Hong Kong in 2013, currently heads Citi's Capital Management for Japan, Asia North and Australia and Asia South and will relocate to Singapore, according to the memo. He will report to Jason Rekate and John Chirico, both Global Co-Heads of Corporate Banking, and Amol Gupte, Head of Asia South Cluster, the memo showed. Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
Why Snowflake Inc. (SNOW) Soared Today
We recently published a list of In this article, we are going to take a look at where Snowflake Inc. (NYSE:SNOW) stands against other stocks that soared today. Cloud-based data storage provider Snowflake jumped by 13.43 percent on Thursday to close at $203.18 apiece following news that it cracked past the $1-billion revenue mark in the first quarter of fiscal year 2026. In its financial statement, Snowflake Inc. (NYSE:SNOW) said that revenues increased by 25.7 percent to $1.04 billion during the period from the $829 million registered in the same period last year, on the back of higher product revenues. A software engineer at work, surrounded by a wall of computer monitors connected to a 'Data Cloud' platform. However, it remained at a 35-percent higher net loss of $430 million versus $318 million year-on-year. For the second quarter, Snowflake Inc. (NYSE:SNOW) expects product revenues to grow by 25 percent to a range of $1.035 billion to $1.04 billion. Following the results, Citi Group gave a Buy recommendation on the company's stock, while also raising its price target to $245 from $235 previously. The new price target represented a 20.6-percent upside from its latest closing price. Overall, SNOW ranks 10th on our list of stocks that soared today. While we acknowledge the potential of SNOW, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SNOW and has 10,000% upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Bloomberg
09-05-2025
- Business
- Bloomberg
Bloomberg Real Yield 05/09/2025
Vonnie Quinn highlights the market-moving news you need to know. Today's guests: Head of Taxable Fixed Income Strategy UBS Global Wealth Management Leslie Falconio, Chief Credit Strategist Goldman Sachs Lotfi Karoui, and Head of Debt Capital Markets Citi Group Richard Zogheb. (Source: Bloomberg)
