Citigroup said it spent $5 billion to buy back its stock during the third quarter, or 150% more than the $2 billion worth of shares repurchased in the first quarter.
All the extra buying didn’t seem to help the stock price too much, as the it rose 19.2% during the third quarter, after climbing 19.9% in the first quarter. So far in October, the stock has lost 4%.
For the year, the $8.75 billion the bank as spent on repurchases is part of a $20 billion buyback program announced in January.
