C - Citigroup: Next Level Up
2024-06-02 19:00:00 ET
Summary
- Citigroup's stock has finally participated in the big bank rally, but the company still struggles to generate growth.
- Regulators are expected to slash plans for higher capital requirements, allowing for more share repurchases to reward shareholders.
- Citigroup has excess capital of $13 billion and has already started repurchasing shares, with $2.4 billion spent on buybacks over the past year.
- The stock still trades below TBV while forecast boosts to RoTCE should help eliminate the valuation disconnect.
Citigroup ( C ) has long been one of the most undervalued bank stocks, but the company has struggled to generate the growth to reward shareholders. The stock finally participated in the big bank rally off the November lows when Citigroup traded below half of tangible book value. My investment thesis remains ultra Bullish on the turnaround story at the large bank....
Citigroup: Next Level Up