Citigroup (C) Stock News

Citigroup economists changed their Fed outlook, adding a quarter-point rate hike in December 2026. The prior forecast was no change for the remainder of the year. The bank continues to expect rate cuts in 2027.

Citigroup reported traction in its U.S. general purpose credit cards, with spend volume up 13% year-over-year in the latest quarter, driving loan growth and a return exceeding 21%. However, overall revenue in the segment was unchanged.

JPMorgan Chase and Wells Fargo reported third-quarter earnings that missed revenue expectations, with JPMorgan's FICC trading light and Wells Fargo revenue below estimates. Goldman Sachs and Citigroup are due to report before the open Wednesday. Bank stocks have struggled amid rising Treasury yields and slowing M&A.

Citigroup lowered its rating on Securitize, Inc. (SECZ) from Buy to Neutral.

CEO Jane Fraser says revenue rose 8% to $23.85 billion, driven by strength in services, markets (FX and spread products), banking, and wealth.

Citi Q3 markets revenue $6.1B (+6% YoY, -13% QoQ). Fixed-income $4.4B (+4%), equities $1.7B (+14%). IB fees $1.4B (+9% YoY, -13% QoQ). Net income $5.2B vs $3.8B YoY, above $4.5B consensus. CEO Fraser cites best Q3 revenue in a decade. Contrasts with JPM and Goldman which saw bigger equity gains.

John Eydenberg will join UBS later this year as co-head of a newly formed investment bank private markets coverage group, alongside Jeff Hinton. The unit consolidates financial sponsors, private funds and private credit teams as UBS pushes for US dealmaking market share.

Citigroup: 2026 guidance depends on macro, market conditions.

Citigroup sees 2026 US cards net credit losses about 4%, tightening from prior 4%-4.5% range.

Citigroup expects its 2026 efficiency ratio to fall below 60%, according to a report. The efficiency ratio measures operating expenses as a percentage of revenue; a lower figure indicates better cost control. No further details on the path to this target were provided.

Citigroup projects 2026 net interest income excluding markets will rise in the mid- to high-6% range.

Citigroup's US consumer cards revenue came in at $4.66 billion for the third quarter, unchanged from a year ago. The flat result contrasts with other Citi segments that showed double-digit growth. The figure is part of the bank's broader Q3 earnings release, which included an EPS beat and overall revenue slightly above consensus.

Citigroup reported third-quarter markets revenue of $6.11 billion, a 6% increase year-over-year.

Citigroup's total loans at the end of the third quarter were $820 billion, a 12% increase from the prior year. The figure adds detail to the bank's Q3 earnings release, which showed an EPS beat and revenue slightly above consensus.

Citigroup Q3-end allowance for credit losses $22.4 billion.

Citi posted its Q3 2026 financial results on its investor website. A conference call is scheduled for 11 a.m. ET today.

Sanders: low-income taxpayers contributed more than Citigroup.

Barron's argues Citi's transformation under CEO Jane Fraser, improving ROTCE, and cheap valuation could drive shares 30% higher to $165. EPS expected to grow 60% this year. Risks include regulatory and consumer exposure, but analysts see continued upside.

TD Cowen resumed coverage of Citigroup with a Buy rating.

Citigroup upgraded XPO to Buy from Neutral with a $224 price target.

Citigroup increased its 12-month Bitcoin price forecast to $113,000, up from $82,000. The bank's revised outlook comes as Bitcoin trades lower year-to-date.

Citigroup CEO Fraser: bank tracks agents constantly.

Citi's institutional stablecoin payment service is called Spring by Citi. It lets clients accept stablecoin payments at checkout. Coinbase provides the blockchain rails and auto-converts to fiat. Citi settles as bank of record. The product name is new; the partnership was reported earlier today.

HSBC Securities resumed Citigroup (C) coverage with a Buy rating and $164 price target.

Citigroup cut Dropbox (DBX) to Sell from Neutral with a $29 price target. The downgrade reflects a negative view on the stock's near-term prospects.

Citigroup upgrades Arcturus Therapeutics to Buy, sets $20 target.

Citi will launch Premium Boost next month, offering higher savings rates to clients who consolidate more assets with the bank. The program targets the $5 trillion in assets Citi clients hold elsewhere. Competitors have similar initiatives.

Citigroup launches Citi Commerce Media platform for credit card customers

Citigroup to redeem EUR1.5 billion 0.5% fixed/floating notes due 2027.

Citigroup is redeeming all EUR1.5 billion of its 0.500% Fixed/Floating Rate Notes due 2027 on October 8 at par plus accrued interest. The move is part of the firm's liability management strategy.

Citigroup now sees the Bank of Japan hiking 25 bp in December 2026, March 2027, and July 2027, pulling forward its prior forecast of January, June, and December 2027.

Citigroup disclosed August credit card charge-offs of 2.03% and a delinquency rate of 1.29% at month-end in an SEC filing. The metrics track consumer repayment stress in the bank's card book.

Citigroup CFO Gonzalo Luchetti said the bank expects full-year return on tangible common equity (ROTCE) to come in slightly above 11%. He also expects markets revenue to grow mid-single digits for the year and Q3 investment banking revenue to rise low single digits.

Citigroup now expects BOE rate hikes in Q4 2026 and Q1 2027.

Citi now expects the Fed to deliver 25-basis-point rate cuts in June, September, and December 2027. That is later than its prior forecast of cuts in October and December 2026 and January 2027. The revision suggests Citi sees the Fed holding rates higher for longer before beginning an easing cycle.

A report says Citigroup is preparing to offer institutional Bitcoin custody later this year. The claim is unverified.