Citi shares trade solidly above book value due to restructuring, WSJ says

For the first time in years, Citi (C)group finished the year trading solidly above book value, a milestone that represents the positive effects of the restructuring process led by CEO Jane Fraser, Telis Demos of The Wall Street Journal reports. In recent years, the bank has exited many overseas consumer-banking markets, spent billions on transforming core risk and reporting systems, and hired top new managers. Now, analysts expect the bank to hit its target of achieving a 10%-11% return on tangible common equity by the end of 2026.