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Oppenheimer Analyst Sees Citigroup Dividend Cut
Topics:Banking
Sectors:Financial Services | Banks
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Meredith Whitney, Oppenheimer & Co.'s banking analyst who was the first to say Citigroup needed to cut its dividend last year, told CNBC the bank would need to cut payouts again and raise more capital.
Whitney also said after markets closed Thursday that she believes financial stocks, which have been weak recently in the wake of the credit crisis, housing crunch and fears of a recession, could fall at least another 15 percent and as much as 50 percent.
Citigroup shares [C
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] were only slightly lower in extended trading Thursday after finishing regular market hours down 1.73 percent at $25.05.
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