New York is among the top five states in the U.S. in terms of GDP size. The state, which is home to many of the world’s largest corporations, is seen as a hub for banking, finance, and communication. Moreover, New York also has a large manufacturing sector, including printing and publishing, garments and more. If […]
Mark Mason is Citi’s chief financial officer and one of Wall Street’s highest-ranking Black executives. In the past year, the company has committed over $1 billion to tackle the racial wealth gap in banking and credit, housing and entrepreneurship. On Wednesday, June 2 at 2:00pm ET, Mason joins Washington Post opinions writer Jonathan Capehart to discuss the initiatives and corporate America’s role in addressing systemic racism.
Oppenheimer raised its price target from $112 to $177 on Citigroup
If the price jumps above $80, the next target could be around $85
Citigroup shares have advanced more than 20% since the beginning of January 2021, and the current share price stands around $75. Citigroup reported better than expected first-quarter results last month, and according to the technical analysis, shares of this bank remain in a buy zone.
Fundamental analysis: Oppenheimer raised its price target from $112 to $177 on Citigroup
Citigroup reported first-quarter results in April; total revenue has decreased by -6.9% Y/Y to $19.3B while GAAP EPS for the same period was $3.62 (beats by $1.03). Total revenue has decreased below the expectations (beats by $430 million), and the bank reported a record net income of $7.9 billion (compared with $2.5 billion in the first quarter of the 2020 year).
It has no active plans to scrap its onshore private banking and wealth management services in any of the other markets it is leaving.
Citi’s strategy is to redirect capital and human resources to serve a growing army of wealthy non-resident Indians (NRIs) who are putting their wealth to work in a select set of offshore markets, including London,
A spokesman at Citi in Hong Kong says: “India remains an important market for the Institutional Clients Group and Citi’s wealth ambitions in the region.”
He adds: “While our ability to serve our onshore private bank Indian clients is heavily dependent on our consumer platform, we are committed to and continue to invest in our ability to serve our clients in India, and they will have the option to continue to bank with us through one of the four global centres, subject to Indian regulation.”
Goldman Sachs (NYSE:GS). However, it s important to realize that these are five
very different financial institutions. In this
Fool Live video clip,
recorded on April 20, chief growth officer Anand Chokkavelu and Fool.com contributors Matt Frankel, CFP, and Jason Hall give a rundown of these five banks and how they make their money.
Jason Hall: Yeah, so short version, Wells Fargo, I guess the best way to describe it is it s just the biggest commercial bank in the United States that s a pure-play commercial bank. In other words, they do Main Street lending, so mortgages, business lending, demand deposit accounts like checking and savings and CDs and all that kind of stuff you think about when you think about a bank, that you would use or a business owner would use. That s basically what Wells Fargo does. I think they re also the most troubled of the big banks. This is the one that s still dealing with some of the repercussions of all of the things coming out of their fake