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

Citigroup (NYSE:C) had its price target hoisted by stock analysts at Bank of America from $90.00 to $95.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 28.41% from the company’s previous close.

Several other equities analysts have also weighed in on the company. Morgan Stanley reduced their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $95.00 in a research note on Monday. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 16th. Truist Financial began coverage on shares of Citigroup in a research report on Tuesday. They set a “buy” rating and a $85.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

Citigroup Trading Up 1.7 %

Shares of C traded up $1.24 during mid-day trading on Tuesday, hitting $73.98. The company had a trading volume of 8,049,390 shares, compared to its average volume of 12,065,828. Citigroup has a 1-year low of $50.51 and a 1-year high of $74.21. The business’s 50-day simple moving average is $69.50 and its 200-day simple moving average is $64.74. The stock has a market cap of $139.92 billion, a PE ratio of 21.44, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55.

Citigroup (NYSE:C) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. Sell-side analysts forecast that Citigroup will post 5.86 earnings per share for the current year.

Institutional Investors Weigh In On Citigroup

Hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co grew its stake in Citigroup by 0.4% in the fourth quarter. Diversified Trust Co now owns 89,601 shares of the company’s stock worth $6,307,000 after purchasing an additional 370 shares in the last quarter. Neville Rodie & Shaw Inc. bought a new position in Citigroup during the fourth quarter worth $274,000. CWA Asset Management Group LLC boosted its holdings in Citigroup by 193.1% in the fourth quarter. CWA Asset Management Group LLC now owns 47,644 shares of the company’s stock worth $3,354,000 after purchasing an additional 31,387 shares during the period. Nordea Investment Management AB increased its stake in Citigroup by 32.2% during the fourth quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock valued at $501,994,000 after purchasing an additional 1,731,527 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Citigroup by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 30,381 shares of the company’s stock worth $2,139,000 after purchasing an additional 3,308 shares during the period. Institutional investors 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.