The Way To View Citigroup Right Now
- Citigroup's stock price dipped by ~2% after the bank reported mixed Q2 2018 financial results.
- Citigroup's potential to return capital to shareholders is enough to warrant a hold while the bank's story plays out.
- I am staying long Citigroup, are you?
On July 13, 2018, Citigroup ($C) reported Q2 2018 financial results that beat on the bottom-line but that missed the top-line estimates. The market was not impressed, as shown by the fact that C shares finished the trading day down over 2%, which brought the YTD performance to approximately -10%.
The U.S. banks in general have not performed well in the market over the last few months but Citigroup's stock has continued to lag even its closest competitors. However, I believe that Citigroup's capital return story will buy Mr. Mike Corbat, CEO, time to show the financial community that this once great bank is again worthy of investment dollars.
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