Cibc Bank USA Increases Stake in Citigroup Inc (NYSE:C)

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Cibc Bank USA grew its stake in shares of Citigroup Inc (NYSE:C) by 6.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 30,795 shares of the financial services provider’s stock after buying an additional 1,992 shares during the quarter. Cibc Bank USA’s holdings in Citigroup were worth $1,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Icon Wealth Partners LLC raised its stake in shares of Citigroup by 3.2% in the 1st quarter. Icon Wealth Partners LLC now owns 5,138 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 157 shares in the last quarter. Avestar Capital LLC raised its stake in shares of Citigroup by 35.0% in the 1st quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 158 shares in the last quarter. Condor Capital Management raised its stake in shares of Citigroup by 0.5% in the 4th quarter. Condor Capital Management now owns 31,706 shares of the financial services provider’s stock valued at $1,651,000 after purchasing an additional 164 shares in the last quarter. RB Capital Management LLC raised its stake in shares of Citigroup by 3.4% in the 1st quarter. RB Capital Management LLC now owns 5,386 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 176 shares in the last quarter. Finally, Acima Private Wealth LLC raised its stake in shares of Citigroup by 29.7% in the 1st quarter. Acima Private Wealth LLC now owns 829 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 190 shares in the last quarter. 76.08% of the stock is owned by institutional investors.

In other Citigroup news, CEO Stephen Bird sold 30,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

NYSE C opened at $66.81 on Thursday. Citigroup Inc has a 52 week low of $48.42 and a 52 week high of $75.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $156.97 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.73 and a beta of 1.72.

Citigroup (NYSE:C) last posted its earnings results on Monday, April 15th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. Citigroup had a net margin of 18.32% and a return on equity of 10.05%. The firm had revenue of $18.58 billion during the quarter, compared to analysts’ expectations of $18.56 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts expect that Citigroup Inc will post 7.6 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Monday, May 6th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is 27.07%.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Citigroup from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, April 29th. Wells Fargo & Co set a $90.00 target price on shares of Citigroup and gave the company a “buy” rating in a research note on Friday, May 3rd. ValuEngine upgraded shares of Citigroup from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Morgan Stanley increased their price objective on shares of Citigroup from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Finally, UBS Group increased their price objective on shares of Citigroup from $78.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $79.39.

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About Citigroup

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Institutional Ownership by Quarter for Citigroup (NYSE:C)

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