Citigroup has priced an offering of $4.5 billion of common stock at $25.27 per share. The common stock offering comes on the heels of Citi's $6 billion offering of preferred shares. Citi said the two capital-raising moves would bring its Tier One capital ratio to 8.6% on a pro forma basis using March 31 data. Wall Street's reaction was muted, with Citi's shares falling about 3% in morning trading April 30 after the pricing was announced.
The lender, which has fought the nonpayment accusations since 2020, will give over $3.8 million to over 200 past and current employees involved in the case.
A dividend cut is what some feel likely to be next for UWM, in order to reduce leverage levels which are well above competitors Rocket and Pennymac
Gen Z, whose oldest members turned just 29, represented nearly a third of all first-time home buyer loans, according to ICE's latest Mortgage Monitor report.
The private student loan market figures to benefit from Republican-led changes to the much larger federal program. But other consumer lenders could face a fallout as more Americans are forced to reconsider which debt payments to prioritize.
Recent signals indicate this could be on the horizon and potentially add new value to a Fannie Mae/Freddie Mac stock offering, a Seeking Alpha analyst wrote.
Three Western states rank most unaffordable compared to income, while those in Midwest and Southern states have more leeway in their budgets for homeownership.
