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

Citigroup (NYSE:C) had its target price increased by Bank of America from $115.00 to $120.00 in a report published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

C has been the subject of a number of other research reports. UBS Group restated a “neutral” rating and set a $89.00 price target on shares of Citigroup in a research note on Tuesday, July 15th. Truist Financial raised their price target on shares of Citigroup from $105.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their target price on shares of Citigroup from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $118.00 target price on shares of Citigroup in a research note on Tuesday. Finally, Morgan Stanley lifted their target price on shares of Citigroup from $129.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Citigroup currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.90.

Citigroup Stock Down 0.1%

Shares of C opened at $99.73 on Wednesday. The stock has a market cap of $183.59 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 0.87 and a beta of 1.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. Citigroup has a 12 month low of $55.51 and a 12 month high of $105.59. The company has a 50-day moving average price of $97.40 and a two-hundred day moving average price of $84.27.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.03). The business had revenue of $22.09 billion for the quarter, compared to the consensus estimate of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. Equities analysts predict that Citigroup will post 7.53 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 3rd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. Citigroup’s dividend payout ratio (DPR) is currently 35.45%.

Institutional Trading of Citigroup

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Citigroup by 0.7% in the second quarter. Vanguard Group Inc. now owns 165,851,890 shares of the company’s stock valued at $14,117,313,000 after purchasing an additional 1,148,451 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Citigroup by 1.0% in the second quarter. Geode Capital Management LLC now owns 42,957,190 shares of the company’s stock valued at $3,645,084,000 after purchasing an additional 411,894 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Citigroup by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 41,101,459 shares of the company’s stock valued at $2,917,794,000 after purchasing an additional 2,539,769 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Citigroup by 2.2% in the second quarter. Franklin Resources Inc. now owns 32,290,532 shares of the company’s stock valued at $2,748,571,000 after purchasing an additional 679,967 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Citigroup by 3.2% in the second quarter. Fisher Asset Management LLC now owns 32,161,457 shares of the company’s stock valued at $2,737,583,000 after purchasing an additional 988,152 shares in the last quarter. Institutional investors and hedge funds 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.