Bank of America Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price hoisted by research analysts at Bank of America from $78.00 to $90.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 26.02% from the stock’s current price.

Several other research firms have also recently issued reports on C. Morgan Stanley cut their target price on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company upped their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Oppenheimer lifted their price target on Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

Citigroup Price Performance

NYSE C opened at $71.42 on Monday. The stock has a market capitalization of $135.07 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.80 and a beta of 1.45. Citigroup has a 1-year low of $46.40 and a 1-year high of $72.80. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. The business’s fifty day moving average price is $65.67 and its 200-day moving average price is $63.19.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the company posted $1.52 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Citigroup will post 5.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Mather Group LLC. grew its position in shares of Citigroup by 88.5% in the second quarter. Mather Group LLC. now owns 5,622 shares of the company’s stock valued at $356,000 after purchasing an additional 2,639 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Citigroup by 8.6% in the second quarter. Park Avenue Securities LLC now owns 60,143 shares of the company’s stock valued at $3,817,000 after purchasing an additional 4,772 shares during the period. CWM LLC grew its holdings in shares of Citigroup by 14.9% in the second quarter. CWM LLC now owns 65,804 shares of the company’s stock valued at $4,176,000 after purchasing an additional 8,549 shares during the period. RDA Financial Network increased its position in Citigroup by 7.2% during the second quarter. RDA Financial Network now owns 3,507 shares of the company’s stock worth $223,000 after purchasing an additional 237 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Citigroup by 7.7% during the second quarter. Valeo Financial Advisors LLC now owns 58,447 shares of the company’s stock worth $3,709,000 after purchasing an additional 4,187 shares during the period. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.