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Citigroup, Goldman Sachs, JP Morgan and Wells Fargo are among the banks discussing a lifeline for the San Francisco-based lender
Jefferies analyst Ken Usdin said in a note to clients Thursday that he met with Citigroup Inc. C, -5.44% Chief Financial Officer Mark Mason and that the company remains in a strong position despite a more uncertain operating environment. Citi is sticking to its target for return on average tangible common shareholders' equity (ROTCE) of 11% to 12%, he said.
Recent headwinds in the banking sector have caused tremendous volatility. Negative news from an international big bank is weighing on the sector on Wednesday, and these two are getting hit hard.
Zacks.com users have recently been watching Citigroup (C) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Citigroup Inc. is likely to benefit massively from the flight to quality deposit flow following the issues at SVB Financial Group. Citigroup's TTS division is especially well-positioned to take advantage of this opportunity.
Citigroup (C) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Citi analyst Keith Horowitz on Wednesday upgraded Truist Financial Corp. TFC to buy despite headwinds in the market on earnings challenges and potential regulatory action. Horowitz said Truist stock now offers an attractive entry point after a 27% loss in the last five days.
Steve Sosnick, Interactive Brokers chief strategist, joins 'Power Lunch' to discuss deposit insurance limits, the political response to Silicon Valley Bank's fallout, and more.
Shares of The Charles Schwab Corporation (NYSE: SCHW) are falling along with the broader financial sector due to fallout from the SVB issue, but it is getting thrown out with the bathwater. This company may have some systemic risk to issues within the broader financial industry, but its model is far different than SVB, and its problems, if they can be called such, lay in other areas.
On a price-to-earnings basis, Citi is the lowest-priced ticker among all the major U.S. banking names. The relatively weak fiscal efficiency that's holding this bank's stock back, however, is being addressed.