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Citigroup: The Pain Before The Gain

December 8, 2017

Summary Points: 

*The recent news - an anticipated $20B non-cash charge and expectations for a decline in quarterly trading revenue - has caused downward pressure for C shares.

*This bank has reported impressive operating results so far in 2017 and its book value is up mid-single digits YoY.

*C shares are a long-term buy at today's price.

 

Citigroup ($C) is a bank that has greatly benefited from a positive change in investor sentiment, as shown by the fact that C shares have greatly outperformed the broader market over the last year. In my opinion, investors with a long-term perspective should seriously consider using any sizable pullback caused by the recent noise as an opportunity to add to their long position because the bank's story remains intact.

 

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