Citigroup Inc., a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions. The Markets segment offers sales and trading services for equities, foreign exchange, rates, spread products, and commodities to corporate, institutional, and public sector clients; and market-making services, including asset classes, risk management solutions, financing, prime brokerage, research, securities clearing, and settlement. The banking segment includes investment banking; advisory services related to mergers and acquisitions, divestitures, restructurings, and corporate defense activities; and corporate lending, which includes corporate and commercial banking. The U.S. Personal Banking segment provides co-branded cards and retail banking services. The Wealth segment provides financial services to high-net-worth clients through banking, lending, mortgages, investment, custody, and trust product offerings; and to professional industries, including law firms, consulting groups, accounting, and asset management. The company was founded in 1812 and is headquartered in New York, New York.

Citigroup looks like a large and profitable bank with a strong asset base, but without an obvious reason for an aggressive upward revaluation. Revenue, operating profit, and net profit are growing year over year, which supports fundamental resilience and suggests business normalization. At the same time, ROE, ROA, ROI, and return on tangible equity remain noticeably below industry medians, which limits the valuation premium because capital is not being used as efficiently as it could be. Profit margin and operating margin are also below market-average levels, although the year-over-year trend is improving rather than deteriorating. On valuation multiples, the picture is mixed: P/B and P/S are below the industry median, which looks like a moderate undervaluation, but P/E is above the median, meaning the market is already partly pricing in earnings quality. Debt burden, as reflected in debt/equity and long-term debt, looks high relative to the industry, which adds caution to the valuation, especially in the financial sector where the balance sheet matters no less than earnings. Liquidity, based on the current ratio, is slightly better than the median, but the quick ratio is formally weak, which is not critical for a bank, though it does not add arguments in favor of a higher target. Shareholders’ equity and assets are large and stable, while growth in total assets and cash on hand supports the scale and resilience of the balance sheet. Dividend yield in the current data does not appear to be a strong driver, so the dividend factor does not offset the weakness in profitability. Overall, the fundamentals support the current valuation rather than justify a meaningful increase, because strong scale and earnings growth are balanced by industry-average or weaker capital efficiency metrics. For an investor, this means the stock looks high quality, but not cheap enough to justify substantial upside without further improvement in profitability and a reduction in balance sheet risks.

UCHF-12.26

UCAD-12.26

ECAD-12.26

COCOA-11.26

ZINC-12.26

COPPER-12.26

NICKEL-12.26

MOEXCNY-12.26

COFFEE-11.26

Citigroup, Inc.

Сильный индекс, значительно вырос. Быки резко укрепили уверенность в своих позициях.

Strong index, significantly up. Bulls sharply strengthened confidence in their positions.

Слабый индекс, значительно вырос. Рынок не поддерживает быков.

Weak index, significantly up. The market does not support the bulls.

Сильный индекс, значительно упал. Отток средств из лонгов увеличился и находится на высоком уровне.

Strong index, significantly down. The outflow of funds from longs has increased and is at a high level.

Citigroup is growing in terms of profits and assets, but its return on equity and margins are below the industry average, while its debt burden limits a higher target.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Capital Group Global Growth Equity ETF (Symbol: CGGO) where we have detected an approximate $243.9 million dollar inflow -- that's a 2.1% increase week over week in outstanding units (from 304,900,000 to 311,400,000). Among the largest underlying components of CGGO, in trading today Western Digital Corp (Symbol: WDC) is up about 0.9%, Citigroup Inc (Symbol: C) is off about 1.8%, and Shopify Inc (Symbol: SHOP) is lower by about 1%. For a complete list of holdings, visit the CGGO Holdings page » The chart below shows the one year price performance of CGGO, versus its 200 day moving average:
Looking at the chart above, CGGO's low point in its 52 week range is $31.94 per share, with $42.88 as the 52 week high point — that compares with a last trade of $37.20. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further CGGO Research:

Noteworthy ETF Inflows: CGGO, WDC, C, SHOP

Key Points
Citigroup just reported Q3 earnings and beat estimates.
It had its best third quarter in a decade.
It is a buy for dividend investors.
Investors may be looking at a buy-the-dip moment on Citigroup (NYSE: C) stock after the nation's third-largest bank by total assets posted impressive third-quarter earnings. Despite the blowout results, the stock price dipped in the days following the earnings release. Shares have fallen almost 5% since earnings were released on Oct. 13 to $126 per share, and roughly 13% since their 52-week closing high of $145 per share on June 22.
This presents a buying opportunity for investors, as Citigroup appears to be a good deal for certain types of investors.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
Best Q3 in a decade
All the major banks reported earnings last week, and Citigroup had the best results outside of more investment banking-focused rivals like Goldman Sachs (NYSE: GS).
Citigroup recorded its highest third-quarter revenue in a decade, at $23.8 billion, up 8% year over year. Net interest income rose 14%, offsetting a 4% decline in non-interest fee revenue. It beat estimates of $23.7 billion.
Net income increased 37% to $5.2 billion in the third quarter 2026, while earnings per share increased 53% to $2.85 per share. EPS beat estimates of $2.65 per share. On an adjusted basis, excluding a goodwill impairment, EPS was $2.24, up 20%. Earnings were buoyed by sound expense management, as expenses rose just 3%, excluding notable items.
Its efficiency ratio improved to 58.5%, from 64.7% in Q3 2025. Further, its return on tangible common equity (ROTCE) improved 350 basis points year over year to 11.5%. The bank expects to finish the year with ROTCE above its target range and north of 11%.
Why Citigroup is a buy
Citigroup stock is mainly a buy for its dividend. It raised its dividend last quarter to $0.67 per share and is paying a yield of 2.18%.
It also has plenty of capital to maintain that dividend, even if the economy heads south. It reported a common equity tier 1 (CET1) ratio of 12.8% in Q2, comfortably ahead of the 11.6% ratio mandated by the Federal Reserve.
That strong capital position allowed Citigroup to return $4.1 billion to shareholders in Q3 through dividends and share buybacks. The bank also has a very low dividend payout ratio of 24%, meaning just 24% of its earnings go toward dividends. That gives it ample leeway to maintain or raise its dividend.
Even with the recent dip, Citigroup stock is up 6% year-to-date and 29% over the past 12 months. The stock is also cheap, trading at 10 times forward earnings. Some 78% of analysts rate it a buy, with a median price target of $154 per share, implying 25% upside.
I'm a little skeptical of that type of upside, given the tenuous state of the economy, but if you are looking for a solid dividend stock that's cheap, Citigroup might be a decent option, certainly among large banks. It is outperforming the big four banks over the past year, yet has a similar dividend yield that looks very sustainable, and it is cheaper than the others on a forward P/E basis.
Should you buy stock in Citigroup right now?
Before you buy stock in Citigroup, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Citigroup wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 18, 2026.
Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group and JPMorgan Chase. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Is Citigroup Stock a Buy 13% Below Its 52-Week High?

Key Points
Pershing Square stock has surged roughly 87% since its IPO in April.
Two Wall Street firms recently downgraded the stock to sell.
Both cited its high valuation.
Pershing Square Inc. (NYSE: PS), the investment firm founded and run by Bill Ackman, went public in April, and the stock has soared since then.
It opened at $24 per share on April 29 as part of a combined initial public offering with the firm's Pershing Square USA fund. Since then, PS stock skyrocketed to a high of $60 per share on Oct. 7 -- a 150% gain at its peak.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
But shares have plummeted over the past week, down some 25% from their Oct. 7 peak to $45 per share. The catalyst is two recent Wall Street downgrades.
Citi and BofA downgrade PS
Last week, analysts at Citi slapped it with a sell rating, down from neutral, but maintained its $45-per-share price target. Citi cited its high valuation, trading at 54 times forward earnings expectations.
Citi lowered its earnings projections for Pershing Square in 2027 to $0.89 per share from $1.01 per share in 2027. The reduced earnings estimates are tied to tepid investment performance of Pershing Square's funds, including its two largest, Pershing Square Holdings and Pershing Square USA. And given the uncertain market ahead, Citi expects modest returns over the next year.
Still, even with the reduced expectations, the $0.89 in earnings per share would be a significant increase over the estimated $0.51 per share adjusted earnings that analysts project for 2026. So it's really more about the high valuation, as the stock came charging out of the gates in April.
This week, BofA followed suit, downgrading Pershing Square stock to underperform, from neutral, and lowering its price target from $54 per share to $38 per share.
The $38-per-share target would suggest a 15% decline over the next 12 months for the stock.
Analysts at BofA largely expressed the same concerns -- the high valuation in the face of modest or negative returns. Pershing Square generates a significant amount of revenue from investment management fees, so when asset levels drop, fees decline as well.
Should you buy or sell?
Pershing Square stock has had a great run since its IPO, but it appears to be a victim of its own success. The stock looks overvalued, and investors likely took some profits when it peaked at 60.
Looking ahead, it plans to launch a new fund, Pershing Square Ventures, a private equity fund that will offer investors access to pre-IPO stocks, by the end of 2026. This could help balance out the firm's revenue stream.
Also, Pershing Square owns a controlling stake in real estate developer Howard Hughes Holdings. The company just acquired specialty insurer Vantage Group Holdings. With this addition, Ackman said in his Q2 letter to shareholders that this positions Howard Hughes Holdings to be a "modern-day Berkshire Hathaway" -- referencing the float model where the company could use the cash to invest in other assets.
Citi cited this business as a potential upside catalyst.
While Pershing Square does have solid growth expectations, it's just a bit too overvalued right now. But investors may want to keep it on their radar and look for a better entry point.
Should you buy stock in Pershing Square right now?
Before you buy stock in Pershing Square, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Pershing Square wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 17, 2026.
Bank of America is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway and Howard Hughes. The Motley Fool has a disclosure policy.

Citi Just Downgraded Bill Ackman's Pershing Square Stock to Sell, Citing a $45 Price Target Versus Its $60 Peak. Is PS Stock Overvalued After Its April IPO Rally?

Key Points
Citigroup reported net income of $5.2 billion in the third quarter.
Year-to-date severance expenses surpassed $1 billion across operations and technology.
Wealth management attracted $38 billion in net new investment assets.
On its third quarter of 2026earnings call held on Oct. 13, 2026, Citigroup (NYSE:C) reported net income of $5.2 billion. The bank's continuing structural overhaul cuts corporate overhead expenses to fund artificial intelligence upgrades and expand high-return corporate services. Three takeaways from management's comments stand out for long-term investors.
1. Severance Charges Fund Structural Cost Reductions and Technology
Management is trimming headcount across corporate functions to eliminate redundant expenses. Reinvesting those severance savings, which are job-termination payouts to outgoing staff, into modern technology platforms creates operational capacity for future business growth.
On a year to date basis, we have recognized over $1 billion of severance, largely across functions, technology and operations as we continue to drive structural efficiencies and bring down transformation expenses and stranded costs to create capacity for business growth.
-- Gonzalo Luchetti, Chief Financial Officer
2. Artificial Intelligence Tools Actively Reduce Software Vendor Expenses
Internal deployment of automated coding software helps engineering teams to complete technical projects in-house rather than outsourcing work. That shift lowers external software supplier costs while accelerating product rollouts for corporate clients.
We have reduced our tech vendor spend by 30% year over year as a consequence, and that is still got a long way to run.
-- Jane Nind Fraser, Chair and Chief Executive Officer
3. Asset Inflows Accelerate Fee Growth Across Wealth Management
Net new investment assets, which represent fresh capital brought in by wealth clients, doubled year over year. There was also strong uptake among retail clients who transitioned to wealth products. Expanding client accounts builds steady fee streams that protect profitability against fluctuating interest rates.
We brought in $38 billion in net new investment assets this quarter, up over 100% from a year ago.
-- Jane Nind Fraser, Chair and Chief Executive Officer
Looking Ahead
Third-quarter revenue expanded 8% year over year as execution gained traction across global services and consumer cards segments. A global institutional network, blockchain and payment tokenization for digital assets growing to seven markets, and automated risk systems build operational scale. Management is watching trading seasonality, deposit competition, and capital regulation changes.
Our strategy is working, and we have a clear path to delivering higher, sustainable returns.
-- Gonzalo Luchetti, Chief Financial Officer
Disciplined expense controls and balance sheet allocation keep the bank aligned toward its long-term financial targets.
This quarter was another proof point of our consistent execution and delivery in the face of a dynamic environment.
-- Jane Nind Fraser, Chair and Chief Executive Officer
Should you buy stock in Citigroup right now?
Before you buy stock in Citigroup, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Citigroup wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $380,363!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,315,732!*
Now, it’s worth noting Stock Advisor’s total average return is 919% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of October 17, 2026.
Citigroup is an advertising partner of Motley Fool Money. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Citigroup: 3 Key Takeaways for Long-Term Investors

Note: The following is an excerpt from this week’s Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Here are the key points:
Total Q3 earnings for the 32 S&P 500 members that have reported results already are up +52.5% from the same period last year on +15.8% higher revenues, with 81.3% beating EPS estimates and 71.9% beating revenue estimates.
The EPS and revenue beats percentages at this admittedly early stage in the Q3 reporting cycle are tracking modestly below what we had seen from this same group of companies in other recent periods. The reported earnings and revenue growth rates have been boosted by outsized gains at Micron, with the Q3 growth comparisons tracking modestly unfavorably with other recent periods when the Micron numbers are excluded.
The relatively underwhelming start to the Q3 reporting cycle notwithstanding, the overall setup remains favorable, with earnings growth expected to be in the double digits for the 8th consecutive quarter. The growth momentum is broad-based, with 14 of the 16 Zacks sectors expected to enjoy positive earnings growth and the outlook steadily improving.
Excluding the Tech sector’s substantial contribution, Q3 earnings for the rest of the S&P 500 index would be up +14.6% (vs. +24.6% otherwise). Excluding the Energy sector, the aggregate growth rate would decline to +20.3%.
What’s Weighing on Bank Stocks After Strong Q3 Results?
Despite headline earnings misses by JPMorgan and Bank of America, Q3 results from these banks and their peers have been very strong, with robust equity trading volumes and accelerating investment banking activities, particularly in equity underwriting and M&A.
Net interest income was up at each of the money-center banks – JPMorgan JPM, Citigroup C, Bank of America BAC and Wells Fargo – with NII at JPMorgan up +6% (excluding markets) relative to the same period last year, up +7% at Citigroup, +8% at Bank of America and +5% at Wells Fargo. Other than JPMorgan, whose Q3 NII was modestly down sequentially, the other three banks enjoyed gains relative to the preceding period.
On the trading side, the gains were entirely from the equities markets, while revenues from the fixed income, currencies, and commodities (FICC) business were down across all the banks. Citigroup was the sole exception on the FICC side, with the bank enjoying its best Q3 trading performance in many years.
These results failed to change the banks’ negative stock market momentum ahead of these results. You can see this in the performance chart below that shows the performance of JPMorgan, Wells Fargo, Bank of America, and Citigroup shares relative to the S&P 500 index since the end of June.
Market participants are likely weighing future headwinds rather than backward-looking Q3 results in pushing these stocks lower. At the core of their concerns is interest rate volatility, which obscures NII visibility, alongside a potential deceleration in trading revenue from recent cyclical highs. Because NII and capital markets activity drove outsized bank profits over the last four quarters, a plateau in these activities is likely fueling investor caution.
For the Finance sector’s Q3 scorecard, we now have results from 33% of the sector’s market capitalization in the S&P 500 index. Total earnings for these banks are up +10% from the same period last year on +12.7% higher revenues, with 77.8% beating EPS estimates and 66.7% beating revenue estimates.
For Q3 as a whole, combining actual results with estimates for the remaining stocks, total Finance sector earnings are expected to increase +7.2% from the same period last year, on +7.5% higher revenues.
Image Source: Zacks Investment Research
The Earnings Big Picture
The chart below shows S&P 500 expectations for 2026 Q3, comparing what was achieved in the preceding four periods with what is currently expected for the following three quarters.
Image Source: Zacks Investment Research
We have been showing here how Q3 estimates moved higher since the quarter got underway. Below, we show how estimates for the last quarter of the year have evolved in recent weeks.
Image Source: Zacks Investment Research
The chart below shows the overall earnings picture for the S&P 500 index on an annual basis.
Image Source: Zacks Investment Research
As is the case with estimates for 2026 Q4, estimates for full-year 2027 are also moving higher, as the chart below shows.
Image Source: Zacks Investment Research
Since the beginning of July, estimates for 2027 have increased for 10 of the 16 Zacks sectors, with Tech, Energy, Finance and Industrials leading the way.
We will see how this revisions trend evolves as companies report Q3 results and share updates on developments in their businesses.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Broad-Based Growth Meets Bank Caution: The Evolving Q3 Earnings Picture

Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Citi (C) Q3 2026 Earnings Call Transcript

Citigroup Inc. C reported third-quarter 2026 earnings per share of $2.85, which surpassed the Zacks Consensus Estimate of $2.66. In the prior-year quarter, the company reported earnings per share of $2.24.
The company’s results benefited from higher net interest income (NII), growth across four core businesses and positive operating leverage. However, higher credit loss provisions and lower fee income acted as offsetting factors. Given these concerns, C shares lost nearly 2.9% in the early trading session. A full day’s trading session will depict a clearer picture.
Net income in the quarter was $5.25 billion, up 39.8% from the prior-year quarter.
C’s Revenues Increase, Expenses Decline
Revenues, net of interest expenses, were $23.85 billion in the third quarter of 2026, up 7.9% year over year, marking the company's highest third-quarter revenues in a decade. The top line surpassed the Zacks Consensus Estimate of $23.66 billion.
NII increased 13.7% year over year to $16.98 billion, driven by growth in Markets, Services, Wealth and U.S. Consumer Cards.
Non-interest revenues declined 4% year over year to $6.86 billion, primarily due to weakness in Markets and U.S. Consumer Cards.
Citigroup's operating expenses declined 2.4% year over year to $13.95 billion. The decrease mainly reflected the absence of the prior-year Banamex goodwill impairment charge and lower professional services expenses. However, higher transactional and product servicing costs, deposit insurance expenses and compensation partially offset the decline.
The efficiency ratio improved to 58.5% from 64.7% in the year-ago quarter. A decline in the efficiency ratio indicates improvement in profitability.
Citigroup’s Segmental Performance
In the Services segment, revenues were $6.61 billion, up 15% year over year. The increase reflected growth in Treasury and Trade Solutions and Securities Services.
The Markets segment’s revenues increased 6% to $6.11 billion, driven by growth in Fixed Income and Equity markets revenues.
Banking revenues increased 6% to $1.74 billion, primarily driven by Investment Banking revenues, which grew 9%. Equity underwriting revenues surged 77%, while Advisory and Debt underwriting revenues declined 4% and 3%, respectively.
In the Wealth segment, revenues were $3.27 billion, climbing 15% year over year. The increase was driven by growth across Citigold and Retail Banking, the Private Bank and Wealth at Work.
U.S. Consumer Cards revenues remained relatively flat at $4.66 billion. Higher NII was offset by increased partner payment accruals and rewards costs.
In the All Other segment, on a managed basis, revenues declined 3% year over year to $1.43 billion.
C’s Balance Sheet Position Solid
At the end of the third quarter of 2026, Citigroup's deposits increased nearly 1% to $1.51 trillion on a sequential basis. Its loans rose 3.3% from the prior quarter to $819.7 billion, reflecting continued lending activity across its businesses.
Citigroup’s Credit Quality: Mixed Bag
Total non-accrual loans decreased 12% year over year to $3.3 billion. Total allowance for credit losses was $22.4 billion at quarter-end, down from $23.8 billion in the prior-year period.
Provisions for credit losses and benefits and claims increased 5.6% year over year to $2.59 billion. This reflected $2.22 billion of net credit losses and a net reserve build of $369 million, primarily driven by changes in the macroeconomic outlook and portfolio growth.
C’s Capital Position Weak
At the end of the reported quarter, Citigroup's Common Equity Tier 1 capital ratio was 12.8%, down from 13.3% in the year-ago quarter. The company’s supplementary leverage ratio in the reported quarter was 5.0%, down from the prior-year quarter’s 5.5%.
Citigroup’s Capital Deployment
During the quarter, Citigroup returned approximately $4.1 billion to common shareholders through share repurchases and dividends. The company also increased its quarterly common stock dividend by 12% to 67 cents per share.
Our Viewpoint on C
Citigroup’s third-quarter 2026 results reflected solid business momentum, supported by higher NII, strong performance in Services and Wealth and positive operating leverage. Growth in Markets and Banking was also encouraging, while improved operating efficiency and profitability underscored disciplined execution. However, higher credit loss provisions and pressure on capital ratios remain concerns.
On the strategic front, Citigroup completed the sale of the remaining 1.4% of its planned 24% equity stake sale in Banamex, reducing its ownership to 51%. The company expects Banamex's deconsolidation in early 2027, with the overall process expected to be slightly accretive to its CET1 capital ratio. The planned acquisition of Kard is also expected to strengthen its customer engagement capabilities.
Reflecting confidence in its growth prospects, management expects to exceed its 2026 return on tangible common equity (ROTCE) target of more than 11%. Further, it aims to achieve ROTCE of 11-13% during 2027-2028 and 14-15% over the medium term. Continued investments in technology and AI, coupled with disciplined expense management and capital optimization, are expected to drive profitability and improve returns over time.
Citigroup Inc. Price, Consensus and EPS Surprise
Currently, Citigroup carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Dates & Expectations of Other Banks
U.S. Bancorp USB is scheduled to report its third-quarter 2026 results on Oct. 15.
The Zacks Consensus Estimate for U.S. Bancorp’s quarterly earnings has remained unchanged at $1.32 per share over the past seven days. This indicates an 8.2% increase from the prior-year quarter’s reported figure.
M&T Bank MTB is slated to report third-quarter 2026 numbers on Oct. 16.
Over the past week, the Zacks Consensus Estimate for M&T Bank’s quarterly earnings has been revised downward to $4.98 per share, indicating a 2.3% increase from the prior-year quarter’s reported figure.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Citigroup Q3 Earnings Beat on Higher NII & Lower Expenses, Shares Down

The following companies are expected to report earnings prior to market open on 10/13/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
J P Morgan Chase & Co (JPM)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 6 analysts that follow the stock is $5.94. This value represents a 17.16% increase compared to the same quarter last year. In the past year JPM has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 9.84%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for JPM is 13.78 vs. an industry ratio of 16.00.
Johnson & Johnson (JNJ)is reporting for the quarter ending September 30, 2026. The large cap pharmaceutical company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.53. This value represents a 9.64% decrease compared to the same quarter last year. In the past year JNJ has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 2.11%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for JNJ is 23.38 vs. an industry ratio of 19.20, implying that they will have a higher earnings growth than their competitors in the same industry.
UnitedHealth Group Incorporated (UNH)is reporting for the quarter ending September 30, 2026. The hmo company's consensus earnings per share forecast from the 8 analysts that follow the stock is $4.12. This value represents a 41.10% increase compared to the same quarter last year. In the past year UNH has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 29.15%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for UNH is 19.11 vs. an industry ratio of 21.20.
The Goldman Sachs Group, Inc. (GS)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 7 analysts that follow the stock is $12.90. This value represents a 5.31% increase compared to the same quarter last year. In the past year GS has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 44.99%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for GS is 13.27 vs. an industry ratio of 16.00.
Wells Fargo & Company (WFC)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.85. This value represents a 6.94% increase compared to the same quarter last year. WFC missed the consensus earnings per share in the 1st calendar quarter of 2026 by -1.27%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for WFC is 11.49 vs. an industry ratio of 16.00.
Citigroup Inc. (C)is reporting for the quarter ending September 30, 2026. The investment bankers company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.66. This value represents a 18.75% increase compared to the same quarter last year. In the past year C has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 15.81%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for C is 11.59 vs. an industry ratio of 16.00.
Domino's Pizza Inc (DPZ)is reporting for the quarter ending September 30, 2026. The restaurant company's consensus earnings per share forecast from the 9 analysts that follow the stock is $4.33. This value represents a 6.13% increase compared to the same quarter last year. Zacks Investment Research reports that the 2026 Price to Earnings ratio for DPZ is 16.33 vs. an industry ratio of 3.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Albertsons Companies, Inc. (ACI)is reporting for the quarter ending August 31, 2026. The consumer company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.31. This value represents a 26.19% decrease compared to the same quarter last year. ACI missed the consensus earnings per share in the 2nd calendar quarter of 2026 by -28.85%. Zacks Investment Research reports that the 2027 Price to Earnings ratio for ACI is 7.39 vs. an industry ratio of 17.40.
FB Financial Corporation (FBK)is reporting for the quarter ending September 30, 2026. The bank (northeast) company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.21. This value represents a 13.08% increase compared to the same quarter last year. FBK missed the consensus earnings per share in the 1st calendar quarter of 2026 by -0.88%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for FBK is 11.27 vs. an industry ratio of 10.90, implying that they will have a higher earnings growth than their competitors in the same industry.

Pre-Market Earnings Report for October 13, 2026 : JPM, JNJ, UNH, GS, WFC, C, DPZ, ACI, FBK

For Immediate Release
Chicago, IL – October 12, 2026 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan JPM, Citigroup C, Pepsi PEP, Micron MU and Nike NKE.
Estimates Keep Rising as Q3 Earnings Session Takes Center Stage
The Q3 earnings season takes center stage this week when JPMorgan, Citigroup and others report September-quarter results before the market's open on Tuesday, October 13th. This week's reporting docket, comprising 29 S&P 500 members, also includes companies outside the Finance sector, with bellwethers like Johnson & Johnson, Taiwan Semiconductor Company, and UnitedHealth also reporting quarterly results.
The expectation is that S&P 500 earnings will increase by +24.3% from the same period last year, the 8th straight quarter of double-digit earnings growth for the index.
The Tech sector remains a major growth contributor, but momentum is broad-based, with 15 of the 16 Zacks sectors on track for positive earnings growth in Q3. Importantly, the revisions trend remains positive and broad-based, highlighting a steadily improving outlook.
As noted earlier, the revisions trend has been positive, sustaining the favorable trend in place for almost a year. Estimates for Q3 increased after the quarter got underway, and we are seeing a similar trend at play for 2026 Q4 estimates.
This positive revision behavior is not new; it extends a tailwind that has been building for nearly a year. The positive revisions were at first concentrated in Technology and, more recently, Energy following Middle East supply disruptions. However, for 2026 Q4 and what we saw in Q3, constructive estimate revisions have broadened significantly, rising across 7 of the 16 Zacks sectors—including Aerospace, Construction, Industrials, Finance, and Transportation alongside Tech and Energy.
On the negative side, Q4 estimates remain under pressure for these 8 sectors – Conglomerates, Autos, Basic Materials, Consumer Staples, Consumer Discretionary, Medical, Business Services, and Retail.
It is important to note that estimates for full-year 2027 have also been similarly trending higher, which we show a little later in this note.
Sector Focus: Broad-Based Strength
Q3 earnings are expected to be above the year-earlier level for 15 of the 16 Zacks sectors, with 6 sectors expected to enjoy double-digit growth. The multi-industry Conglomerates sector is the only one expected to have lower earnings in Q3 relative to the same period last year (earnings decline of –35.1%).
The 6 sectors expected to enjoy double-digit earnings growth in Q3 are Aerospace (up +159.5%), Energy (+117.1%), Tech (+43.3%), Basic Materials (+29.7%), Transportation (+10.9%) and Industrial Products (+13.3%).
Q3 earnings growth for the S&P 500 index drops to +20.1% from +24.3% once the Energy sector's contribution is excluded from the index. Excluding the Tech sector, Q3 earnings growth for the rest of the index drops to +14.2%.
For the Finance sector, which dominates the reporting docket this week, Q3 earnings are expected to be up +3.3% from the same period last year on +6.3% higher revenues.
The Banks and Brokerages industry, which includes JPMorgan, Citigroup, Goldman Sachs, and others, is expected to post +2.5% earnings growth in Q3 on +9.7% higher revenues.
The sharp rise in long-term Treasury yields during Q3 has been an overhang on bank and broker stocks lately. Rising yields don't just cause paper losses on balance sheet holdings of available-for-sale bonds, as they also pressure net interest margins through surging deposit betas and have negative effects on credit demand and quality. The unfavorable interest rate backdrop has clouded the outlook for deal flow, with a number of high-profile IPOs getting delayed as a result.
Q3 Earnings Season Scorecard
The Q3 earnings season is not officially getting underway with this week's results from JPMorgan, Citigroup, and others. Officially, the Q3 reporting cycle began with recent results from Pepsi, Micron, Nike, and others.
The Nike, Micron, and other reports were for these companies' fiscal quarters ending in August, which count as part of the September-quarter tally. Including the Nike and Micron reports, we now have such Q3 results from 19 S&P 500 members. With another 29 index members reporting results this week, including the aforementioned banks, we will have seen results from 48 S&P 500 members by the end of this week.
Total Q3 earnings for the 19 S&P 500 members that have reported results already are up +150.9% from the same period last year on +27% higher revenues, with 78.9% beating EPS estimates and 73.7% beating revenue estimates.
The very strong earnings and revenue growth pace for this group of 19 S&P 500 members is mostly due to Micron, whose Q3 earnings increased +1075.7% from the year-earlier level. Excluding the Micron contribution, Q3 earnings for the remaining 18 index members that have reported would be up +9.4%.
The Earnings Big Picture
As we noted earlier, estimates for full-year 2027areexperiencing the same positive revisions trend that we noted earlier in the context of 2026 Q4.
For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >>>> Banks Under Pressure from Spiking Yields Ahead of Q3 Results
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIKE, Inc. (NKE) : Free Stock Analysis Report

Indicator	Dec 25	Mar 26	Jun 26	TTM
Net Income	RUB 2.10B	RUB 5.42B	RUB 5.83B	RUB 5.83B
Operating Income	RUB 3.80B	RUB 7.52B	RUB 8.03B	RUB 8.03B

Indicator	Dec 25	Mar 26	Jun 26	TTM
Total Assets	RUB 2.66T	RUB 2.78T	RUB 2.89T	RUB 2.89T
Cash on Hand	RUB 1.24T	RUB 1.33T	RUB 1.41T	RUB 1.41T
Total share holder equity	RUB 213.82B	RUB 212.57B	RUB 214.45B	RUB 214.45B

Indicator	Dec 25	Mar 26	Jun 26	TTM
Long Term Debt	RUB 315.83B	RUB 307.57B	RUB 333.75B	RUB 333.75B
Total liabilities	RUB 2.44T	RUB 2.57T	RUB 2.68T	RUB 2.68T

Citigroup, Inc.

Recent quarterly and TTM performance

Growth

Assets

Debts