This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Citigroup Still Loved by KBW, Despite Downgrades

Getting back to Citigroup, Cannon expects the company's tangible book value per share to hit $65 during 2015, so if the shares trade up to tangible book value, you're looking at upside. 

Citigroup expects to deploy much more excess capital as Citi Holdings continues to shrink.  KBW estimates that following the next round of Federal Reserve stress tests in March, the company will announce plans to repurchase up to $7.686 billion in common shares through the first quarter of 2015.

Citi's shares were up over 1% in premarket trading to $51.68.

The following chart shows the year-to-date stock performance for Citigroup, as well as the KBW Bank Index (I:BKX) and the S&P 500 :

C Chart C data by YCharts


-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
BAC $16.35 0.00%
C $53.14 -0.39%
AAPL $125.18 -0.49%
FB $78.51 1.20%
GOOG $529.69 -0.21%


DOW 17,887.49 -40.71 -0.23%
S&P 500 2,084.74 -4.72 -0.23%
NASDAQ 4,929.1890 -10.1380 -0.21%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs