“It’s still a very good story,” he said. “It’s just kind of taking a longer time to really develop as far into the share price than I would hope, but most of the trends I want to see are continuing to be positive.”
O’Neill noted that much of the commentary that is coming out of banks’ management teams sounds a lot better than recent economic reports. Some of this has already shown up in better-than-expected loan growth.
Although O’Neill does not expect Citigroup to request a dividend hike or share buybacks in the near term, he said it does look like the bank has “a ton of capital.”
Major bank earnings continue later this week with reports planned from Goldman Sachs on Tuesday, Bank of Americaon Wednesday and Morgan Stanleyon Thursday.
—By CNBC.com's Katie Little
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CNBC Data Pages:
Citigroup has an investment banking conflict with the companies mentioned in this article.
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