Citigroup Inc. shares jumped to an annual high of $137.12 during intraday trading on Wednesday before closing 1% lower, following U.S. President Donald Trump's praise for the bank and CEO Jane Fraser in a Truth Social post. Trump touted a "BIG comeback for CITI," stating the bank ranked at the top by value for mergers and acquisitions advisory in the first quarter. However, data from Dealogic and Bloomberg show Citigroup ranks behind Goldman Sachs, JPMorgan, Morgan Stanley, and BofA Securities in overall M&A advisory activity for the year to date.
Trump Praises Citigroup M&A Performance in Social Media Post
Trump said in a post on Truth Social that Citigroup had ranked at the top by value for mergers and acquisitions advisory in the first quarter. "Congratulations to Jane F and ALL of her great people. They've worked really hard!" he wrote. The president's comments followed a Fox Business interview featuring Citi's senior banker Leon Kalvaria, during which an on-screen graphic highlighted Citi's leadership in power-sector M&A advisory deals in the first quarter, a niche segment of the broader M&A market, according to a Bloomberg report. It remains unclear which specific rankings Trump was referencing in his post.
Dealogic Data Shows Citigroup Ranks Behind Four Major Banks
According to Dealogic's 2026 Global M&A Advisor Ranking, Goldman Sachs, JPMorgan, Morgan Stanley, and BofA Securities all rank above Citi in overall M&A advisory activity on a year-to-date basis. Goldman Sachs has advised on 196 deals, almost double Citi's 99. In terms of value, Goldman's total advisory is more than three times Citi's deal value.
Citigroup Stock Gains 15% in 2026
Citigroup has outperformed most major competitors in 2026, gaining more than 15%. The stock has also outperformed the S&P 500 index this year. Retail sentiment for C stock on Stocktwits has stayed in the 'bullish' territory over the past day amid 'high' message volumes.
CFO Projects Strong Second-Quarter Results
Citigroup Chief Financial Officer Gonzalo Luchetti said at a financial conference hosted by Morgan Stanley on Tuesday that the bank expects a stronger-than-anticipated second quarter, driven by broad-based momentum across its trading businesses. The bank is expected to post Q2 results on July 14. Wall Street analysts expect the company to report earnings of $2.60 per share on revenue of $23.27 billion for the quarter, compared with $2.04 per share on $20.99 billion in revenue in the prior-year period. Luchetti said market revenue is on track to rise by a high single-digit to low double-digit percentage, driven by steady strength across equities, derivatives, fixed income, currencies, and commodities. Luchetti also said that the bank expects investment banking fees to increase by the mid-teens, in line with analyst forecasts, with potential for further upside.
FAQ
What did President Trump say about Citigroup on Wednesday?
Trump posted on Truth Social that Citigroup had ranked at the top by value for mergers and acquisitions advisory in the first quarter, congratulating CEO Jane Fraser and her team for a "BIG comeback."
How does Citigroup's M&A advisory ranking compare to competitors according to Dealogic?
Dealogic's 2026 Global M&A Advisor Ranking shows Goldman Sachs, JPMorgan, Morgan Stanley, and BofA Securities all rank above Citigroup in overall M&A advisory activity on a year-to-date basis. Goldman Sachs has advised on 196 deals compared to Citi's 99, with Goldman's total advisory value more than three times Citi's deal value.
When will Citigroup report second-quarter results?
Citigroup is expected to post second-quarter results on July 14. Wall Street analysts expect the company to report earnings of $2.60 per share on revenue of $23.27 billion for the quarter.
