Strong Buy – Citigroup Reports First Quarter 2014 Earnings per Share of $1.23

Citigroup surprise the market by beating analyst’s estimates. Citigroup’s Chief Executive Officer said that  consumer and institutional businesses performed well and grew both loans and deposits while holding the line on our expenses. 

Wall Street reacted well to CItigroup’s release. Optimisms on the bull market is now high again and more good result can now be expected during the week.

Citigroup share price is higher. Investor are seeing this as a good buying opportunity into Citigroup. The company has a P/E Ratio of  11.20 and  Earning per share of 4.26.

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Citigroup Release Highlights: 

  • Net Income of $3.9 Billion; $4.1 Billion Excluding CVA/DVA and Tax Item Revenues of $20.1 Billion
  • Net Interest Margin Increased to 2.90%
  • Net Credit Losses of $2.4 Billion Declined 15% Versus Prior Year Period
  • Loan Loss Reserve Release of $673 Million Versus $650 Million in Prior Year  
  • Reduced Deferred Tax Assets by Approximately $1.1 Billion  
  • Estimated Basel III Tier 1 Common Ratio of 10.4%3 
  • Estimated Basel III Supplementary Leverage Ratio of 5.6%4  
  • Book Value per Share Increased to $66.25 
  • Tangible Book Value per Share5 Increased to $56.40  
  • Citigroup Deposits of $966 Billion Grew 3% Versus Prior Year Period  
  • Citicorp Loans of $575 Billion Grew 7% Versus Prior Year Period  
  • Citi Holdings Assets of $114 Billion Declined 23% from Prior Year Period and Represented 6% of Total Citigroup Assets at Quarter End

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