Dividend Calculator. Citigroup C. NYSE :C. Stock Analysis. C nyse. Earnings Data. Report Date. Period Ending. Consensus EPS Forecast. Analyst Consensus Strong Buy. C Earnings History. The third quarter seemed like an ideal time for Citigroup to repurchase shares and I thought the bank would have bought back more stock than it did in the prior quarter.
The bank certainly had enough capital to repurchase more shares. One of the most important measures of capital is the common equity tier 1 CET1 ratio, which is a measure of a bank's core capital expressed as a percentage of its risk-weighted assets. Citigroup management has said that it wants to target an The bank ended the quarter with an Citigroup's capital is also replenished each quarter from retained earnings, and the bank is in the process of freeing up billions of more capital as it follows through on plans to exit and sell 13 global consumer franchises.
Wells Fargo bank analyst Mike Mayo on the company's second-quarter earnings call expressed his displeasure with management on the smaller repurchase amount. The discount to book value is just getting greater and greater. Your discount versus peers has increased. Citi has worst-in-class returns, adjusted efficiency and stock market valuation. So why not a little change in that philosophy to more buybacks versus investing if you have such a great opportunity with your share price?
The good news is that Citigroup still trades below TBV and may for a while, so there is still time for management to repurchase more discounted shares. CEO Fraser said on the earnings call that the bank is "deep in the second round of bids for the remaining exit markets," referring to the global consumer franchises the bank plans to sell. Shannon Bray's status as a Shiba Inu holder has made him something of an overnight celebrity in crypto circles. With bitcoin and ethereum hovering near all-time highs, many analysts are bullish that the flagship cryptocurrencies, and the crypto space as a whole, can continue its rapid growth and ascension for the remainder of the year.
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These statements are not guarantees of future results or occurrences. Actual results and capital and other financial condition may differ materially from those included in these statements due to a variety of factors.
These factors include, among others, macroeconomic and other challenges and uncertainties related to the COVID pandemic, such as the duration and severity of the impact on public health, the U. Any forward-looking statements made by or on behalf of Citigroup speak only as to the date they are made, and Citi does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
RoTCE represents annualized net income available to common shareholders as a percentage of average tangible common equity TCE. For the components of the calculation, see Appendix A. For a reconciliation of this measure to reported results, see Appendix E.
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