News about Citigroup

Citigroup shares have fallen almost 5% since its earnings release on Oct. 13, to $126 per share, about 13% below their 52-week closing high of $145, which the article suggests may present a buying opportunity. The bank posted its highest third-quarter revenue in a decade at $23.8 billion, up 8%, while net income rose 37% to $5.2 billion and EPS of $2.85 beat estimates. The article highlights the dividend, raised to $0.67 per share for a 2.18% yield, with a payout ratio of just 24% and a CET1 ratio of 12.8% in Q2. The stock trades at 10 times forward earnings, and 78% of analysts rate it a buy with a median target of $154, though the author is skeptical of the implied 25% upside given economic uncertainty.