Citigroup (NYSE:C) Given New $95.00 Price Target at Bank of America

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

A number of other equities research analysts have also recently commented on the stock. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $70.00 to $95.00 in a research report on Monday. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial began coverage on Citigroup in a research report on Tuesday. They set a “buy” rating and a $85.00 target price on the stock. Piper Sandler raised their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer dropped their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.13.

Citigroup Trading Up 1.2 %

NYSE:C opened at $73.63 on Tuesday. Citigroup has a one year low of $50.51 and a one year high of $74.29. The firm has a 50-day simple moving average of $69.68 and a 200-day simple moving average of $64.84. The firm has a market cap of $139.25 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current 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 analysts’ consensus estimates 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 period in the previous year, the company posted $1.52 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that Citigroup will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.04%. The ex-dividend date was Monday, November 4th. Citigroup’s payout ratio is 64.93%.

Institutional Trading of Citigroup

Several hedge funds and other institutional investors have recently bought and sold shares of C. Geode Capital Management LLC boosted its position in Citigroup by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 39,919,798 shares of the company’s stock worth $2,492,238,000 after purchasing an additional 791,758 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Citigroup by 18.5% in the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after purchasing an additional 4,680,713 shares during the period. Fisher Asset Management LLC boosted its holdings in Citigroup by 3.2% during the third quarter. Fisher Asset Management LLC now owns 28,970,357 shares of the company’s stock worth $1,813,544,000 after buying an additional 911,694 shares in the last quarter. Legal & General Group Plc grew its position in Citigroup by 5.5% during the second quarter. Legal & General Group Plc now owns 17,428,251 shares of the company’s stock valued at $1,105,999,000 after buying an additional 913,231 shares during the period. Finally, Greenhaven Associates Inc. increased its holdings in Citigroup by 1.5% in the third quarter. Greenhaven Associates Inc. now owns 16,883,391 shares of the company’s stock valued at $1,056,900,000 after buying an additional 242,545 shares in the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

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.