Citigroup Inc. ($C) Stock Forecast: Down 2.0% Today

What is Citigroup Inc.?

Citigroup (C) is a multinational investment bank and financial services corporation. It is one of the largest banks in the United States.

Why is Citigroup Inc. going down?

C stock is down 2.0% on Sep 9, 2024 14:55

• The bearish movement in Citigroup's stock (C) today could be attributed to the bearish options trends noticed by investors with significant capital.
• Concerns over poor credit quality in the banking sector, including Citigroup, might have added to the negative sentiment surrounding the stock.
• While not directly related, the presentation of Microchip Technology at the Citi 2024 Global TMT Conference could have shifted investor focus away from Citigroup, potentially impacting its stock performance negatively.
• Overall, the combination of bearish options trends, concerns over asset quality, and competing investor attention from other events could have contributed to the bearish movement in Citigroup's stock (C) today.

C Price Chart

C News

Behind the Scenes of Citigroup's Latest Options Trends - Citigroup ( NYSE:C )

Investors with a lot of money to spend have taken a bearish stance on Citigroup C. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/09/40753073/behind-the-scenes-of-citigroups-latest-options-trends

FDIC-Insured Banks' Q2 Earnings Rise, Asset Quality Concerns Linger

The FDIC-Insured banks' (like JPM, BAC, C & WFC) Q2 earnings gain from higher non-interest income, while poor credit quality poses a headwind.

https://www.zacks.com/stock/news/2332653/fdic-insured-banks-q2-earnings-rise-asset-quality-concerns-linger

Share repurchase programme

LEI: ...

https://www.globenewswire.com/news-release/2024/09/05/2941046/0/en/Share-repurchase-programme.html

Citigroup ( C ) Stock Moves -1.88%: What You Should Know

In the latest trading session, Citigroup (C) closed at $61.46, marking a -1.88% move from the previous day.

https://www.zacks.com/stock/news/2331017/citigroup-c-stock-moves--188-what-you-should-know

Microchip Technology to Present at the Citi 2024 Global TMT Conference

CHANDLER, Ariz., Sept. 03, 2024 ( GLOBE NEWSWIRE ) -- ( NASDAQ:MCHP ) - Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that the Company will present at the Citi 2024 Global TMT Conference on Thursday, September 5, ...

https://www.globenewswire.com/news-release/2024/09/03/2940099/0/en/Microchip-Technology-to-Present-at-the-Citi-2024-Global-TMT-Conference.html

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Citigroup Inc. Price History

06.08.2024 - C Stock was down 2.2%

• Citigroup (C) stock closed at $61.46, marking a -1.88% decrease from the previous day, indicating a bearish trend.
• The options market sentiment towards Citigroup is notably bearish, with a majority of investors opening trades with pessimistic expectations.
• Concerns about poor credit quality in the banking sector, including FDIC-insured banks like Citigroup, could have contributed to the bearish movement.
• While other events like Microchip Technology's presentation at the Citi 2024 Global TMT Conference may have had some impact, the overall sentiment surrounding Citigroup appears to be driven by broader market concerns and specific company-related factors.

09.08.2024 - C Stock was down 2.0%

• The bearish movement in Citigroup's stock (C) today could be attributed to the bearish options trends noticed by investors with significant capital.
• Concerns over poor credit quality in the banking sector, including Citigroup, might have added to the negative sentiment surrounding the stock.
• While not directly related, the presentation of Microchip Technology at the Citi 2024 Global TMT Conference could have shifted investor focus away from Citigroup, potentially impacting its stock performance negatively.
• Overall, the combination of bearish options trends, concerns over asset quality, and competing investor attention from other events could have contributed to the bearish movement in Citigroup's stock (C) today.

07.11.2023 - C Stock was up 5.4%

• The investment management firm, Silver Beech Capital, achieved a strong net return, surpassing the market indices.
• Citi Treasury and Trade Solutions made a strategic investment to expand its payments capabilities.
• Wall Street's biggest rivals united to oppose proposed regulations that could impact their profitability.
• Citi initiated coverage on Nuvama Wealth with a 'Buy' rating, highlighting its strength in the wealth sector.
• These positive developments and investments likely contributed to the bullish movement of the stock C.

14.06.2023 - C Stock was down 1.3%

• The integration of KoinBasket with Binance may have caused a shift in investor sentiment towards cryptocurrencies, leading to a sell-off in Stock C.
• Citigroup's better-than-expected Q2 earnings could have highlighted weaknesses in Stock C's financial performance, prompting investors to sell.
• The positive earnings reports from big banks like JPMorgan and Wells Fargo may have overshadowed Stock C's performance, causing investors to shift their focus and sell.
• The unexpected resignation of Allen & Overy's managing partner could have created uncertainty in the market, leading to a bearish sentiment towards Stock C.

27.06.2023 - C Stock was up 3.5%

• The bullish movement in C could be attributed to positive earnings results, as mentioned in the article about F5 stock surging on beating estimates.
• It is possible that the bullish movement in C was influenced by the overall positive sentiment in the market, as indicated by the article about the best biotech and lithium stocks to buy.
• The absence of Citigroup in the list of banks participating in the launch of FedNow, as mentioned in the article about the framework for CBDCs, could have also contributed to the bullish movement in C as investors may have viewed it as a positive sign for the company.

03.06.2023 - C Stock was up 2.0%

• The bullish movement in Citigroup's stock today can be attributed to a combination of factors:
• 1. Positive stress test results: The news about large banks, including Citigroup, clearing the stress test and being able to boost dividends has likely instilled confidence in investors. This positive outcome indicates that the bank is in a strong financial position and capable of returning value to shareholders.
• 2. Dividend increase: Citigroup's recent dividend increase of 4% to 5% is another positive development that may have contributed to the bullish movement. This signals the bank's commitment to rewarding shareholders and reflects its confidence in its financial performance.
• 3. Potential leadership change: The news about shareholders proposing a top Citigroup banker as the CEO of Naturgy, a Spanish power utility, highlights the expertise and reputation of Citigroup's executives. Such news can positively impact investor sentiment towards the bank, leading to increased demand for its stock.
• Overall, the combination of positive stress test results, dividend increase, and potential leadership opportunities has likely fueled the bullish movement in Citigroup's stock today.

31.00.2024 - C Stock was up 5.5%

• Citigroup's strong bullish movement today could be attributed to the positive performance of big banks in the market.
• The release of Patient Capital Management's investor letter, highlighting Citigroup's outperformance compared to the S&P 500, may have contributed to the bullish sentiment.
• The rise in L'Occitane's shares and the positive sales report could have had a spillover effect on Citigroup, boosting investor confidence in the retail sector.
• The letter from agriculture officials warning the largest U.S. banks about the potential consequences of the Net Zero Agenda may not have directly impacted Citigroup's bullish movement.
• Overall, Citigroup's bullish movement today could be attributed to the positive sentiment surrounding big banks, its strong performance in the fourth quarter, and potential spillover effects from positive news in other sectors.

06.11.2023 - C Stock was down 3.5%

• The bearish movement in Citi's stock today can be attributed to a combination of factors:
• 1. Investment in Icon Solutions: Citi's investment in Icon Solutions, a fintech provider of payments technology, may have raised concerns among investors about the potential impact on Citi's financials and profitability.
• 2. Limited Duration Stockholder Rights Plan: The adoption of a limited duration stockholder rights plan by Citi Trends, a company associated with Citi, might have created uncertainty among investors, leading to a negative sentiment towards Citi's stock.
• 3. Recession concerns: The article mentioning bank CEOs' belief in an upcoming recession could have influenced market sentiment, as investors may have become more cautious about investing in financial institutions like Citi.
• 4. Write-down by British American Tobacco: The news about British American Tobacco's significant write-down in the value of its cigarette brands may have had a broader impact on the market, including the financial sector, leading to a bearish sentiment towards Citi's stock.
• Overall, the combination of these factors likely contributed to the bearish movement in Citi's stock today.

06.06.2023 - C Stock was down 2.4%

• The bearish movement in Citigroup's stock today could be attributed to the following factors:
• 1. Increased short interest: The rise in Citigroup's short percent of float indicates that more traders are betting against the stock. This negative sentiment could be contributing to the bearish movement.
• 2. Market competition: The news about Nokia bolstering its position in India's 5G market through a multi-billion dollar deal with Reliance Jio might have affected investor sentiment towards Citigroup. Investors may perceive this as a potential threat to Citigroup's market share and future growth prospects.
• 3. Legal developments: The news about Tom Hayes, a former UBS and Citigroup trader, being allowed to appeal his conviction in the Libor interest rate scandal could have created uncertainty and negative sentiment around Citigroup. This association with a past scandal may have impacted investor confidence in the bank.
• 4. Overall market conditions: While not explicitly mentioned in the provided articles, it's important to consider that broader market conditions and macroeconomic factors can also influence the movement of individual stocks. If the overall market experienced a bearish trend, it could have contributed to Citigroup's downward movement.
• Please note that the assessment is based on the information provided and may not capture all possible factors influencing the market movement.

05.07.2024 - C Stock was up 5.1%

• Positive views from Citigroup on the potential of Robinhood's stock may have bolstered investor confidence in the financial sector, potentially impacting stock C.
• The recent move of a former Citigroup Asia head to Prudential suggests growth prospects in the wealth and insurance sectors, creating a positive sentiment around stocks like C.
• Citigroup's notable investments in Australian Clinical Labs and Adani Energy's QIP investments showcase strategic decision-making, likely influencing market participants to consider similar investments in companies like stock C.
• Prudential's appointment of a former Citi executive as the new Greater China CEO may have enhanced investor trust in the company's leadership, indirectly benefiting stocks such as C.

02.07.2024 - C Stock was down 7.3%

• Coex Partners hiring a former Citi executive possibly raised concerns about talent drain within Citigroup, affecting investor confidence.
• Citi's breach of the Federal Reserve's Regulation W might have attracted regulatory scrutiny, leading to market uncertainty and the bearish movement.
• Internal discrepancies in liquidity reporting and regulatory issues overshadowed the positive outlook, leading to the bearish trend in Citigroup's stock price despite bullish sentiment from financial giants and traders.
• Citi raising the stock target for Apple may have shifted investor focus away from Citigroup, impacting the stock price negatively.

02.07.2024 - C Stock was down 5.9%

• Citigroup breached the Federal Reserve's Regulation W for intercompany transactions, stirring investor concerns about compliance issues and internal control, resulting in a bearish movement in the stock.
• Six firms, including Citigroup Global Markets Mauritius, acquired stakes in Netweb Technologies India, which might not have been well-received by investors, further dampening sentiment around Citigroup.
• Citigroup's favorable outlook on Apple stock and strong sales were overshadowed by market worries about regulatory compliance issues.
• A former Citi executive joining Coex Partners hinted at talent leaving Citigroup, potentially contributing to the bearish trend in the stock.