Mark Holder
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Citigroup: Another Pullback Opportunity

Before the market open, Citigroup (C) reported the following Q1 numbers per

  • Reports Q1 (Mar) earnings of $1.10 per share, $0.05 better than the Capital IQ Consensus of $1.05; revenues fell 11.1% year/year to $17.55 bln vs the $17.44 bln Capital IQ Consensus.
  • Reported net income for the first quarter 2016 of $3.5 billion, Capital IQ consensus $3.3 bln.
  • Tangible Book Value per share increased to $62.58; BVPS $71.47.

The stock initially rallied to a high of $46.64 on the news, but Citigroup now trades down for the day. The numbers were great in comparison last year, but at the current price the stock offers tremendous value. Investors should use any dip especially back to the 20/50 ema around $42.50 to load up. 

Disclosure: Long C