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Erika Najarian, UBS large cap bank analyst, joins CNBC's 'Squawk on the Street' to discuss what's on deck for banks in the second half of the year.
Steven Alexopoulos, TD Cowen U.S. large cap bank analyst, joins 'Squawk Box' to discuss the state of the banking sector, Big Banks boosting dividends and stock buybacks, impact of AI, stablecoins, and more.
The Investment Committee give you their top stocks to watch for the second half.
NEW YORK--(BUSINESS WIRE)--Citigroup Inc. is announcing the redemption, in whole, constituting €1,750,000,000 of its 1.250% Fixed Rate/Floating Rate Notes due 2026 (the “notes”) (ISIN: XS2167003685). The redemption date for the notes is July 6, 2025 (the “redemption date”). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest, to but excluding, the redemption date and will be paid on July 7, 2025, the next succeeding business day.
Citigroup Inc. C has passed the Federal Reserve's 2025 stress test. Post-clearing the stress test, C now has the flexibility to return excess capital to shareholders via dividends and share repurchases.
CNBC's Leslie Picker joins 'Money Movers' to discuss the financial sector seeing a rise is stock amid passing the Fed's stress test.
Citigroup remains the cheapest large U.S. bank by price-to-book, justified by its higher risk profile and below-average profitability. Despite strong share performance, Citigroup's dividend yield is now less attractive, making earnings growth the main upside driver. Restructuring has improved efficiency and profitability, but asset quality and exposure to riskier markets/products remain concerns.
Citigroup remains well-capitalized, exceeding CET1 requirements even under severe stress scenarios. The U.S. large bank sector is facing a reduced regulatory environment with less strict stress tests, increasing the potential for larger capital returns. The stock still trades below TBV up at $91.52, even after the big snapback rally, while banking peers trade at multi-year high multiples.
Bank of America Securities (BofA) reiterated a Buy rating on Citigroup, Inc. C, raising the price forecast from $89 to $100.
A Federal Reserve plan to relax leverage rules could free up $185 billion in capital and unlock nearly $6 trillion in balance sheet capacity for large U.S. global banks covered by Morgan Stanley, the brokerage estimated on Thursday.