C Stock Recent News

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Citigroup's expansion plan in China has hit a roadblock with U.S. regulators after the Federal Reserve imposed a penalty on the bank for its data management and risk controls, Bloomberg News reported on Sunday.

U.S. banks, including C, WFC, JPM, HTBI and FFWM, rally as the Fed cuts rates, raising hopes of lower deposit costs and improving loan demand and asset quality.

The September Federal Open Market Committee (FOMC) has become a hot topic among investors, with many believing the FED will finally begin lowering interest rates.

C's near-term challenges led to a decline in share price. However, its long-term prospects remain bright.

In the closing of the recent trading day, Citigroup (C) stood at $58.39, denoting a +1.25% change from the preceding trading day.

Professional services provider JTC said on Monday it has agreed to buy Citigroup's global fiduciary and trust administration services business for $80 million.

Citigroup, one of the world's largest financial institutions, is undergoing a significant restructuring of its compliance efforts in response to recent regulatory pressures. The bank is shifting responsibility for a crucial aspect of its compliance work, along with approximately 800 employees, away from Chief Operating Officer Anand Selva.

Citigroup's stock is undervalued at ~0.65x tangible book value. Jane Fraser's strategic overhaul is making significant progress, aiming for 11%-12% RoTCE by 2026, with potential catalysts in 2025 boosting stock price. Share buybacks at current discounted valuations are highly accretive, with capital headwinds dissipating, allowing for increased capital returns to shareholders.

Jim Cramer is probably the closest thing we have to stock market superstar influencer.