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By Market News Video Staff, Monday, November 15, 12:06 PM ET
Citigroup (NYSE:C) is now targeting companies with annual sales of $20 million or less as an area for expansion. Citi’s head of small-business banking told Bloomberg the sector is a renewed area of focus for the firm, and that it will hire about 200 bankers by the end of next year to bring on new small-business clients.
The hires will bring the number of small business bankers to 500.
Citi shares are trading up 1.3% Monday.
At 11.34% of the portfolio, Citi is the top stock in the SPDR KBW Bank ETF (KBE), which is trading higher by 1.85% Monday.
J.P. Morgan Chase (NYSE:JPM) is the second-largest holding in the fund, at 9.03% of the portfolio, followed by Bank of America (NYSE:BAC), at 7.53%. Wells Fargo (NYSE:WFC) and U.S. Bancorp (NYSE:USB) round out the top five holdings.
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Analyst Moves: LRCX, GNW
Daily Dividend Report: KIM, UNH, AVP, BIP, XL
Daily Dividend Report: NOC, APC, BRCM, PPL, MTB, ACE
Analyst Moves: ARO, HCA
Weekly Market Wrap: May 11, 2012
Analyst Moves: LRCX, GNW
