Dark pool activity was detected in C stock on January 17, 2020. Citi is one of those stocks that always has lots of dark pool activity.
We are unable to determine of this dark pool print was a buy or sell order.
We do like the large players volume surge in the stock:
On January 15, 2020, DA Davidson analyst David Konrad raised his price target on Citi to $100 and kept his Buy rating after its Q4 earnings beat. The analyst points to some of the other upside factors for Citi in the quarter, which included treasury and trade solutions revenue growth of 2% in spite of 3 rate cuts, branded card revenue growth of 10%, and positive operating leverage.
Also on January 15, 2020, BMO Capital analyst James Fotheringham raised his price target to $97 and kept his Outperform rating on Citi after its revenue-driven Q4 beat. The analyst notes that while the large U.S. financials have recently re-rated, he believes that Citi shares have further room to run, trading at a 12% discount to their long-term historical average multiple of 9.5-times his expected two-year forward rolling earnings.
Also on January 15, 2020, Oppenheimer analyst Chris Kotowski raised his price target for Citi to $124 from $119 following quarterly results and as he believes rising returns should continue to drive the stock higher. Chris reiterates an Outperform rating on the shares.
On January 14, 2020, Citi reported Q4 EPS of $2.15 versus the consensus estimate of $1.84. The company reported Q4 revenue of $18.4B versus the consensus estimate of $17.89B.
Citi CEO Michael Corbat said, “Our earnings of $5 billion for the fourth quarter marked a strong finish to 2019. Our full year Return on Tangible Common Equity of over 12% exceeded our target. Due to good client engagement, we drove balanced growth across our products and geographies, closing the year with 16 consecutive quarters of loan and deposit growth. The U.S. consumer franchise saw continued strong growth in Branded Cards and sustained its momentum in attracting digital deposits. Investment Banking continued to gain share and, despite a lower rate environment, Treasury and Trade Solutions grew revenue as we work to ensure our global network remains indispensable to our clients. With increased revenues and disciplined expense management, we had positive operating leverage, even as we continued to make significant investments in the franchise. We ended 2019 with a Common Equity Tier One ratio of 11.7% and we are on track to deliver our commitment of returning over $60 billion of capital to our shareholders over a three-year period. We enter 2020 in a strong competitive position, from capital and liquidity to talent and technology. We continue to invest in areas where we see opportunities for client-led growth and in our infrastructure, in light of the enduring need to be an indisputably strong and stable institution.” Michael also said that their investment banking backlog looks ‘pretty good’.
What’s Next? Make Sure To Review This Lesson On Dark Pool Trading!