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

Citigroup (NYSE:C) had its price objective increased by analysts at Bank of America from $90.00 to $95.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 29.73% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley lowered their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial started coverage on shares of Citigroup in a research report on Tuesday. They issued a “buy” rating and a $85.00 price target on the stock. Oppenheimer lowered their price objective on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $80.13.

Citigroup Trading Down 0.6 %

C opened at $73.23 on Tuesday. Citigroup has a 12-month low of $50.51 and a 12-month high of $74.29. 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 stock has a market capitalization of $138.50 billion, a PE ratio of 21.23, a P/E/G ratio of 0.80 and a beta of 1.43. The firm’s fifty day moving average price is $69.85 and its 200 day moving average price is $64.89.

Citigroup (NYSE:C) last issued its earnings results 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. The business had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.52 EPS. As a group, research analysts expect that Citigroup will post 5.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Strategic Financial Concepts LLC raised its stake in shares of Citigroup by 1,139.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock worth $33,000 after buying an additional 48,484 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Citigroup by 21.6% in the 2nd quarter. Ballentine Partners LLC now owns 15,068 shares of the company’s stock valued at $956,000 after acquiring an additional 2,680 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Citigroup by 4.9% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 35,334 shares of the company’s stock valued at $2,242,000 after purchasing an additional 1,662 shares in the last quarter. PFG Investments LLC grew its stake in shares of Citigroup by 10.7% in the 2nd quarter. PFG Investments LLC now owns 27,616 shares of the company’s stock worth $1,752,000 after purchasing an additional 2,669 shares during the last quarter. Finally, Choreo LLC raised its holdings in shares of Citigroup by 259.1% in the 2nd quarter. Choreo LLC now owns 30,935 shares of the company’s stock worth $1,962,000 after purchasing an additional 22,320 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

About Citigroup

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.