Bank of America Increases Citigroup (NYSE:C) Price Target to $78.00

Citigroup (NYSE:C) had its target price increased by analysts at Bank of America from $77.00 to $78.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 21.95% from the stock’s previous close.

A number of other research firms also recently commented on C. Oppenheimer dropped their price target on shares of Citigroup from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets raised their price target on shares of Citigroup from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Piper Sandler lifted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Argus increased their price objective on Citigroup from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Evercore ISI boosted their price objective on Citigroup from $60.00 to $62.00 and gave the stock an “in-line” rating in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.06.

Citigroup Stock Down 0.5 %

Shares of NYSE:C opened at $63.96 on Wednesday. The firm has a market cap of $122.00 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 0.74 and a beta of 1.44. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. The stock’s 50-day moving average price is $61.25 and its two-hundred day moving average price is $61.93. Citigroup has a 12-month low of $38.17 and a 12-month high of $67.81.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. During the same period in the prior year, the company posted $1.52 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts forecast that Citigroup will post 5.76 EPS for the current year.

Institutional Investors Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. POM Investment Strategies LLC acquired a new stake in shares of Citigroup in the second quarter valued at approximately $25,000. Beacon Capital Management LLC raised its position in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Citigroup during the second quarter valued at $31,000. Triad Wealth Partners LLC bought a new position in Citigroup in the second quarter valued at about $32,000. Finally, Capital Advisors Ltd. LLC raised its holdings in Citigroup by 93.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after purchasing an additional 276 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.