Selling Citigroup out of my Dividend Portfolio
I’ve done a decent job in 2018 of staying away from the plunging financial sector–except in my Dividend Portfolio. There, sucked (or “suckered” if you prefer) by high dividend yields and the prospects of rising net interest margins as the Federal Reserve raised...
Market reaction to big bank earnings not good way to start earnings season
Earnings from Citibank (C), JPMorgan Chase (JPM), and Wells Fargo (WFC looked solid this morning but the more the market thought about them the more disappointed it got. The Financial Sector Select SPDR ETF (XLF) was up 1.6% in the early going but as of 2:30 p.m. New...
I’m adding Citigroup to my Dividend Portfolio
Citigroup (C) is among the big banks that passed the most recent stress test from the Federal Reserve. That means the bank can go ahead with its plans to raise its quarterly dividend to 45 cents from 32 cents and to buyback $17.6 billion in shares. The plan would take...Buy Citigroup (C)
In the long term, I’m not especially interested in owning Citigroup (C). I think the bank’s consumer banking business, once it’s strength, has turned into an also ran. Its capital needs forced it to put its Smith Barney brokerage business into a strange joint venture...U.S. banks' big problem even after the recovery: Where's the growth?
Here’s my big insight for today: U.S. banks have a big long-term problem. But not the one you’re thinking of right now. (Yes, I do have secret powers and can tell what you’re thinking—although only about bank stocks.) The headlines are full of news on robo signers,...Citigroup says it doesn't have a mortgage foreclosure problem
Only one big surprise in Citigroup’s (C) third quarter earnings announced before the New York Stock market opened October 18. No, not the penny a share in earnings above the Wall Street estimate of 6 cents a share. A slight positive surprise certain was a high...Just what Citigroup doesn't need–more questions about its capital
Exactly how well capitalized is Citigroup (C)? That’s a question that the Financial Times raised on September 7. The answer, the paper reported, depends on not so much on who’s counting the beans, but on who’s deciding what beans count. At issue is something...Bad news banks: Citigroup and Bank of America results show a slowing U.S. economy
Yesterday’s second quarter earnings report from JPMorgan Chase (JPM) raised concern among investors. The bank reported falling revenue—just 6% it’s true—in its investment banking business. That seemed to confirm concerns that the Wall Street side—investment banking,...Citibank has survived but I don't think the bank has much of a future
“We have turned the corner,” Citigroup CFO John Gerspach, said when he announced Citigroup’s first quarter 2010 financial results on April 19. But I have to ask, What corner is he looking at? Can’t be the corner of 40th and Broadway near my office in Manhattan. There...Captain Titanic shuffles the Citigroup deck chairs again
Citigroup (C) keeps rearranging those deck chairs. The latest move on the banking industry’s Titanic is the ouster of Teresa Dial, head of the North American retail banking unit since 2008. The company announced that Dial will leave to pursue personal interests. She...I can hear shareholders screaming but I still think Citigroup got off easy
I think Citigroup (C) just got off easy. If it were up to me, I wouldn’t have let the company repay its government loans so it can pretend to be just a regular bank again. Not yet. Not by a long shot. You see there’s still the little problem of the $617 billion in...The banking "recovery" is less than it seems from earnings
We’ve got half a banking recovery. That’s not at all the same as being halfway through a banking recovery. What the second quarter results from Goldman Sachs (GS), JP Morgan Chase (JPM), Citigroup (C), and Bank of America (BAC) tell us is that profits from the...Jim’s Daily Email Alerts:
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