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Citigroup (C, $70.75) beats Q3 earnings expectations
Citigroup reported third quarter earnings that beat analysts’ expectations, on the back of capital markets revenues and the release of loan loss reserves.
The banking behemoth’s earnings for the three months ending in September surged +58% from the year-ago quarter to $2.15 per share, well above the Street consensus expectation of $1.65 per share. Citigroup also released $1.16 billion in loan loss reserves, (which was set aside during the peak of the pandemic in 2020) which was a boost to its earnings.
Revenues fell -13% year-over-year to $17.2 billion, vs. analysts' estimates of $16.9 billion.
“The recovery from the pandemic continues to drive corporate and consumer confidence and is creating very active client engagement as you can see through our strong results in Investment Banking and Equity Markets, both up approximately 40% year-over-year, in addition to double- digit fee growth in Treasury and Trade Solutions as we help our clients reposition their supply chains," said CEO Jane Fraser "And while strong consumer balance sheets have impacted lending, we are seeing higher consumer spending across our cards products."
C in -4.45% downward trend, declining for three consecutive days on May 12, 2022
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where C declined for three days, in 182 of 298 cases, the price declined further within the following month. The odds of a continued downward trend are 61%.
Current price $47.49 crossed the support line at $47.58 and is trading between $47.58 support and $45.11 support lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -4% Downtrend. During the week of 05/09/22 - 05/16/22, the stock fell -5%.
The Momentum Indicator moved below the 0 level on May 09, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on C as a result. In 50 of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 61%.
The Moving Average Convergence Divergence Histogram (MACD) for C turned negative on May 12, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 47 similar instances when the indicator turned negative. In 27 of the 47 cases the stock turned lower in the days that followed. This puts the odds of success at 57%.
The Aroon Indicator for C entered a downward trend on May 06, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where C's RSI Oscillator exited the oversold zone, 25 of 30 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 83%.
The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +7.23% 3-day Advance, the price is estimated to grow further. Considering data from situations where C advanced for three days, in 198 of 308 cases, the price rose further within the following month. The odds of a continued upward trend are 64%.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 60%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.1.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. C’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is 71 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of 65 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 64 (best 1 - 100 worst), indicating fairly steady price growth. C’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 25 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.518) is normal, around the industry mean (0.974). P/E Ratio (5.577) is within average values for comparable stocks, (18.052). Projected Growth (PEG Ratio) (0.667) is also within normal values, averaging (2.137). Dividend Yield (0.043) settles around the average of (0.052) among similar stocks. P/S Ratio (1.349) is also within normal values, averaging (2.603).
The Tickeron SMR rating for this company is 1 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
Major banks are among the biggest companies in the world, often times with global reach and market capitalizations in the multi-billions. Large banks often have multiple arms spanning different disciplines, from deposits, to investment banking, to wealth management and insurance. The biggest banks often have key competitive advantages over smaller players in the industry in terms of brand recognition, cost of capital, and efficiency. Think J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.
The average market capitalization across the Major Banks Industry is 74.3B. The market cap for tickers in the group ranges from 191.4M to 349.8B. JPM holds the highest valuation in this group at 349.8B. The lowest valued company is MSL at 191.4M.
The average weekly price growth across all stocks in the Major Banks Industry was 0.29%. For the same Industry, the average monthly price growth was -4.96%, and the average quarterly price growth was -6.9%. INGVF experienced the highest price growth at 9.33%, while BNDSY experienced the biggest fall at -12.99%.
- 5/5/22 4:57 AM: Citigroup (C, $52.23) was a top weekly gainer, with a +6.39% jump
- 4/20/22 8:58 AM: Citigroup (C, $52.92) was a top weekly gainer, with a +5.13% jump
- 4/1/22 8:47 AM: Citigroup (C, $53.4) was a top loser this week, declining -5.35%
The average weekly volume growth across all stocks in the Major Banks Industry was -7.61%. For the same stocks of the Industry, the average monthly volume growth was 14.44% and the average quarterly volume growth was 87.11%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the MA200MA50 Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 63%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.53.
11 stocks in the group of tickers exhibit a similar negative trend based on the 15 indicator with an average likelihood of 61%.
The most notable companies in this group are JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), Barclays PLC (NYSE:BCS).
The average market capitalization across the group is 92.9B. The market cap for tickers in the group ranges from 10.1B to 349.8B. JPM holds the highest valuation in this group at 349.8B. The lowest valued company is EWBC at 10.1B.
- 5/14/22 4:22 AM: Bank of China (BACHF, $0.38), market cap jumped by $20.8B
- 5/11/22 7:46 AM: Agricultural Bank of China (ACGBF, $0.36), market cap jumped by $34.3B
- 5/3/22 8:18 AM: Industrial and Commercial Bank of China (IDCBF, $0.57), market cap jumped by $42.5B
The average weekly price growth across all stocks in the group was 0.83%. For the same group, the average monthly price growth was -6.24%, and the average quarterly price growth was -8.57%. INGVF experienced the highest price growth at 9.33%, while RBSPF experienced the biggest fall at -7.06%.
- 5/14/22 4:23 AM: ING Groep (ING, $9.7) was a top weekly gainer, with a +6.01% jump
- 5/12/22 5:38 AM: Mitsubishi UFJ Financial Group (MUFG, $5.59) was a top loser this week, declining -7.14%. Expect a Downtrend reversal
- 5/11/22 7:46 AM: Svenska Handelsbanken (SVNLY, $4.7) was a top loser this week, declining -6.56%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the group was -2.67%. For the same stocks of the group, the average monthly volume growth was 1146.66% and the average quarterly volume growth was 205.65%
- 5/13/22 4:49 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 104%
- 5/12/22 5:32 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 105%
- 5/11/22 7:40 AM: The volume for Svenska Handelsbanken stock increased for one day, resulting in a record-breaking daily growth of 340% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
The most notable companies in this group are JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), HSBC Holdings PLC (NYSE:HSBC), Citigroup (NYSE:C), Barclays PLC (NYSE:BCS).
Major banks are among the biggest companies in the world, often times with global reach and market capitalizations in the multi-billions. Large banks often have multiple arms spanning different disciplines, from deposits, to investment banking, to wealth management and insurance. The biggest banks often have key competitive advantages over smaller players in the industry in terms of brand recognition, cost of capital, and efficiency. Think J.P. Morgan, Bank of America, Wells Fargo, and Citigroup.
The average market capitalization across the Major Banks Industry is 74.3B. The market cap for tickers in the group ranges from 191.4M to 349.8B. JPM holds the highest valuation in this group at 349.8B. The lowest valued company is MSL at 191.4M.
- 5/14/22 4:22 AM: Bank of China (BACHF, $0.38), market cap jumped by $20.8B
- 5/11/22 7:46 AM: Agricultural Bank of China (ACGBF, $0.36), market cap jumped by $34.3B
- 5/3/22 8:18 AM: Industrial and Commercial Bank of China (IDCBF, $0.57), market cap jumped by $42.5B
The average weekly price growth across all stocks in the Major Banks Industry was 0.3%. For the same Industry, the average monthly price growth was -4.96%, and the average quarterly price growth was -6.91%. INGVF experienced the highest price growth at 9.33%, while BNDSY experienced the biggest fall at -12.99%.
- 5/14/22 4:23 AM: ING Groep (ING, $9.7) was a top weekly gainer, with a +6.01% jump
- 5/12/22 5:38 AM: Mitsubishi UFJ Financial Group (MUFG, $5.59) was a top loser this week, declining -7.14%. Expect a Downtrend reversal
- 5/11/22 7:46 AM: Svenska Handelsbanken (SVNLY, $4.7) was a top loser this week, declining -6.56%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the Major Banks Industry was -71.11%. For the same stocks of the Industry, the average monthly volume growth was -74.54% and the average quarterly volume growth was -36.39%
- 5/13/22 4:49 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 104%
- 5/12/22 5:32 AM: The volume for Toronto Dominion Bank stock increased for a consecutive 5 days, with an average daily gain of 105%
- 5/11/22 7:40 AM: The volume for Svenska Handelsbanken stock increased for one day, resulting in a record-breaking daily growth of 340% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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