Citigroup (NYSE:C) Stock Price Expected to Rise, Bank of America Analyst Says

Citigroup (NYSE:C) had its price objective hoisted by Bank of America from $90.00 to $95.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Truist Financial began coverage on Citigroup in a research report on Tuesday. They issued a “buy” rating and a $85.00 target price on the stock. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group lifted their target price on Citigroup from $72.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI upped their price target on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Citigroup from $82.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

Citigroup Trading Down 0.6 %

Shares of Citigroup stock opened at $73.23 on Tuesday. Citigroup has a 1 year low of $50.51 and a 1 year high of $74.29. The company has a market capitalization of $138.50 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 0.80 and a beta of 1.43. The business has a fifty day simple moving average of $70.03 and a two-hundred day simple moving average of $64.95. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. Citigroup’s revenue was up .9% compared to the same quarter last year. Research analysts forecast that Citigroup will post 5.86 EPS for the current year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.56 per share. The ex-dividend date was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.06%. Citigroup’s dividend payout ratio is 64.93%.

Hedge Funds Weigh In On Citigroup

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock valued at $2,492,238,000 after purchasing an additional 791,758 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Citigroup by 18.5% during the third quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock worth $1,998,976,000 after buying an additional 4,680,713 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Citigroup by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock valued at $1,813,544,000 after acquiring an additional 911,694 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Citigroup by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after acquiring an additional 913,231 shares in the last quarter. Finally, Greenhaven Associates Inc. grew its position in Citigroup by 1.5% during the 3rd quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock worth $1,056,900,000 after acquiring an additional 242,545 shares during the last quarter. 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.