Bank of America Reaffirms Buy Rating for Citigroup (NYSE:C)

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Citigroup (NYSE:C)‘s stock had its “buy” rating reaffirmed by investment analysts at Bank of America in a report issued on Monday, AnalystRatings.com reports. They currently have a $78.00 target price on the financial services provider’s stock. Bank of America‘s price objective indicates a potential upside of 9.37% from the stock’s previous close.

A number of other equities analysts also recently issued reports on C. Berenberg Bank downgraded to a “hold” rating and cut their price target for the company from GBX 283 ($3.70) to GBX 103 ($1.35) in a research note on Monday, June 17th. Goldman Sachs Group upgraded UCB S A/ADR from a “neutral” rating to a “buy” rating in a research note on Thursday, May 30th. UBS Group cut their price target on Spotify from $182.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Morgan Stanley downgraded GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $23.00 to $18.00 in a research note on Tuesday, April 16th. Finally, ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.85.

C stock opened at $71.32 on Monday. The firm has a market cap of $165.97 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.81 and a beta of 1.74. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 1.01. Citigroup has a 52-week low of $48.42 and a 52-week high of $75.24. The company’s 50-day moving average is $68.07.

Citigroup (NYSE:C) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.17. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $18.49 billion. Citigroup had a return on equity of 10.05% and a net margin of 18.32%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. Equities research analysts expect that Citigroup will post 7.5 earnings per share for the current year.

In other Citigroup news, CEO Stephen Bird sold 30,000 shares of Citigroup stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total transaction of $2,079,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.09% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. HNP Capital LLC raised its holdings in shares of Citigroup by 20.3% in the 2nd quarter. HNP Capital LLC now owns 4,417 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 745 shares during the period. Wealthstreet Investment Advisors LLC raised its holdings in shares of Citigroup by 0.9% in the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 98,781 shares of the financial services provider’s stock worth $6,918,000 after purchasing an additional 856 shares during the period. NEXT Financial Group Inc raised its holdings in shares of Citigroup by 151.4% in the 2nd quarter. NEXT Financial Group Inc now owns 14,971 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 9,017 shares during the period. Cornerstone Advisors Inc. raised its holdings in shares of Citigroup by 9.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 6,498 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 550 shares during the period. Finally, Clear Street Markets LLC raised its holdings in shares of Citigroup by 218.8% in the 2nd quarter. Clear Street Markets LLC now owns 20,400 shares of the financial services provider’s stock worth $1,429,000 after purchasing an additional 14,000 shares during the period. 75.98% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Citigroup (NYSE:C)

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