The Banking and Strategy Initiative

Chillin' out till it needs to be funded

Bank Earnings Season 3Q2016: Citi stuck at $1.24 per share earnings

That’s a pretty good number, given that the bank is still selling off pieces in Latin America and the North American mortgage business is slow. However, more after the JPM and WFC conferences are also over during the day. Citi remains highly undervalued and will continue to have a good year among other SPDR Financial stocks.

Citi reports profits of nearly $4 billion compared to more than $6 Billion at JP Morgan and matched JP Morgan on the buybacks plus dividends as well returning $6 B to shareholders taking Tier I capital to a respectable 12.6% . Of course, given tribulatoions in its NA prtfolio even as the Citi Holdings starts making profits from the remaining legacy protfolio, it will target a higher Tier I ratio.

NIMs are  a slow and not yet steady 2.86%

 

 

 

 

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This entry was posted on October 14, 2016 by in Uncategorized.

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