C Stock Recent News

The most critical earnings set for investors to look over and digest this season have just come out, and those are the results of the financial sector, particularly from banking stocks. However, investors need to understand that there are two types of banks to watch over this season: commercial banks and investment banks.

Citigroup's stock fell 5% despite strong earnings due to profit-taking and unwarranted regulatory concerns, which, I believe, are way overblown. Citi is trading at ~0.7x TBV with potential upside to $120-$170 by 2026 if RoTCE targets are met, offering a high margin of safety. Strong Q3-2024 performance with positive operating leverage across all divisions, confirming full-year 2024 revenue and expense targets.

ORLANDO, Fla., Oct. 16, 2024 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA ), the premier provider of services, technology, and data for the Creator Economy, today announced an equity award granted on October 15, 2024, as a material inducement to the employment of the Company's newly hired Chief Talent Officer, Kerry Griffin.

The most critical earnings set for investors to look over and digest this season have just come out, and those are the results of the financial sector, particularly from banking stocks. However, investors need to understand that there are two types of banks to watch over this season: commercial banks and investment banks.

Citigroup's stock slumped 5% despite a strong Q3'24 due to regulatory concerns, trading at only 0.7x tangible book value. The bank reported $3 billion in net income and a $1.51 EPS, with substantial credit costs and increased reserves, yet boosted tangible book value. CEO Jane Fraser aims for an 11.5% RoTCE, forecasting improved returns and efficiency, with potential EPS rising to $8.50 by 2026.

Citigroup's earnings Tuesday (Oct. 15) echo the sentiment of other banks that have reported in the past few days: Investment banking and trading revenues were up.

Sen. Elizabeth Warren called for growth restrictions on Citi due to long-standing data issues. Citi CEO Jane Fraser denied the prospect of an asset cap after being pressed by two analysts.

Citigroup Inc. (NYSE:C ) Q3 2024 Earnings Conference Call October 15, 2024 11:00 AM ET Company Participants Conference Call Participants Operator Hello, and welcome to Citi's Third Quarter 2024 Earnings Call. Today's call will be hosted by Jenn Landis, Head, Citi Investor Relations.

C's third-quarter 2024 results reflect strong growth in IB revenues, along with a rise in loans and deposit balance. The provision for credit losses increased.

Citigroup beat revenue and earnings expectations, driving shares higher. Despite rising borrowing costs, increased deposits and improved loan performance are set to boost Citigroup's net interest income and earnings. Citigroup's shares are undervalued, trading at the lowest PE ratio among big banks and at a 25% discount to tangible book value.