Citigroup, Inc. (NYSE:C)
CAPS Rating:
A global financial services firm, Citigroup provides a range of offerings to consumer and corporate customers.
Investment advice you can actually understand
A global financial services firm, Citigroup provides a range of offerings to consumer and corporate customers.
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Tangible Book Value Per Share - TBVPS
A company's tangible book value looks at what common shareholders can expect to receive if the firm goes bankrupt and all of its assets are liquidated at their book values. Intangible assets, such as goodwill, are removed from this calculation because they cannot be sold during liquidation. Companies with high tangible book value per share provide shareholders with more insurance in case of bankruptcy.
Lets look at Citigroup Inc C:NYSE
Cash per share (MRQ) 1.16
$3.86 +$0.0001 0.00% Vol. 272,707,947 Tangible Book Value per share (MRQ) 4.38
Price / tbv = $3.86 / $4.38 = 0.8813
UNDERVALUED - yep ... big time!
I am monitoring the options and the short positions, looks like "they're" shorting and hoping to buy back the shorted shares cheaper in C's Secondary Offering. C did file a preliminary with the SEC, which on SEC approval will set the price. More info is expected today .... the problem with the above "strategy, is that the warning CLEARLY states that there's NO guarantee on the allocation of shares ... so anyone who shorted ... may find they CAN'T get matching shares to cover their shorts and will have to scramble to cover at MARKET prices. I'm grinning ... 'cuz how quickly can you say "Short SQUEEZE" ... 3x?
Well said! ( Rec)
Ultimately, you will be proven correct.
Percent (C) held by Institutions: 34.90%
First, C sports only about 35% institutional investment compared to the average 70% institutional investment in C's competitors. A reduction in the number of shares outstanding will result in better earnings per share data ... inspiring MORE "global" confidence in C.
Getting rid of the USA gov't "impending fire sale" threat overhanging C is step one. Second, Step two is reduction of the shares outstanding ( Suggesting a 1 for 10 REVERSE SPLIT here ) to make it more than a penny stock, which may, due to some fund rules ( Prices less than $5 ... Prices less than $10, etc), restrict institutional market buying and holding of C's stock.
Economics 101 basics --- more persons wanting something ( ie: Product X, or C's stock ) there's less of, or not enuf to go around, causes increasing prices.
"Charts: The Short-Term Breakout Price for Citi Shares "
Published: Friday, 12 Mar 2010 8:17 AM ET
By: Lisa Auret
Assistant Web Producer, CNBC
http://www.cnbc.com/id/35833754.
My work: Favorite Chart Indicators ... Tracking Money Flow Index (MFI), On Balance Volume, Momentum, Slow and Fast Stochastics, did I forget to mention On Balance Volume (?) , etc ....
S&P RAISES RECOMMENDATION ON SHARES OF CITIGROUP TO BUY FROM HOLD
Monday 03/29/2010 9:30 AM ET - Standard & Poor's Research Notes
The U.S. Treasury said it would exit its common share ownership stake in C over the course of 2010 through a prearranged trading plan. The Treasury owns 7.7 billion shares, and said the size and timing of sales would depend on a number of factors, but did not elaborate. With average daily trading volume of more than 500 million shares, we think the government could divest its stake without undue pressure on the share price. We are raising our target price by $1.50 to $6.00, on a higher premium to projected tangible book value to reflect our view of C's improved outlook.
" Shares of Citigroup's Primerica rise in IPO debut "
April 1, 2010 11:31 AM ET
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20100401&id=11355506
... still owns nearly half of Primerica. Citi plans to sell the rest of its stake after the IPO.
The shares sold at $15 .... are now up to $19 ... so that puts a much bigger dollar (TBVPS) valuing on the other assets C owns, pending their sale, that may fetch similar prices in IPOs
Citigroup, Inc. (C)
$4.18 0.13 3.21%fyi
After Hours: $4.19 0.01/ 0.24% Vol. 7.69 Mil
Sector: Financial
Industry: Money Center Banks
Closing price 3/31/2010....: $4.05
1 year target....: $4.64
Potential Reward: 14.568%
Foward P/E ...: 12.94
PEgrowth (PEg) ratio ...: NA
Price/Book Value ....: 0.76
Dividends ...: NA
Accounting for the "new" shares issued ( now 28.6 Billion Shares Outstanding ) after I blogged about Tangible Book Value Per Share - TBVPS ... this is C's new TBVPS calculation:
Rev per share (TTM) 6.48
BV per share (MRQ) 5.36
Tangible BV per share (MRQ) 3.93
Cash per share (MRQ) 0.89
"S&P RAISES RECOMMENDATION ON SHARES OF CITIGROUP TO BUY FROM HOLD
Monday 03/29/2010 9:30 AM ET - Standard & Poor's Research Notes
" Shares of Citigroup's Primerica rise in IPO debut "
April 1, 2010 11:31 AM ET
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20100401&id=11355506
... still owns nearly half of Primerica. Citi plans to sell the rest of its stake after the IPO.
The shares sold ( IPO'd ) at $15 .... are now up to $19 ... so that puts a much bigger dollar (TBVPS) valuing on the other assets C owns that may fetch similar prices in IPOs
... about 2.63% of FAS holdings is stock in C ... so what happens to C does affect FAS's stock price as well.