FARMERS & MERCHANTS TRUST Co OF LONG BEACH Invests $260,000 in Citigroup Inc. (NYSE:C)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in Citigroup Inc. (NYSE:C) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,100 shares of the company’s stock, valued at approximately $260,000.

Other large investors have also recently modified their holdings of the company. MONECO Advisors LLC grew its position in Citigroup by 2.9% during the 2nd quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after purchasing an additional 157 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Citigroup by 4.0% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,295 shares of the company’s stock valued at $272,000 after purchasing an additional 164 shares during the last quarter. NorthRock Partners LLC grew its position in Citigroup by 2.7% during the 1st quarter. NorthRock Partners LLC now owns 6,288 shares of the company’s stock valued at $398,000 after purchasing an additional 165 shares during the last quarter. Legacy Capital Group California Inc. grew its position in Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares during the last quarter. Finally, Gries Financial LLC grew its position in Citigroup by 3.0% during the 2nd quarter. Gries Financial LLC now owns 6,000 shares of the company’s stock valued at $381,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler upped their target price on shares of Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada upped their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Keefe, Bruyette & Woods upped their target price on shares of Citigroup from $66.00 to $69.00 and gave the company a “market perform” rating in a research note on Thursday, June 20th. Finally, Oppenheimer upped their target price on shares of Citigroup from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Citigroup Trading Up 0.8 %

C stock opened at $59.54 on Tuesday. The firm has a fifty day moving average price of $62.36 and a 200 day moving average price of $61.32. Citigroup Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $113.59 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.45.

Citigroup (NYSE:C) last posted its earnings results on Friday, July 12th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $20.14 billion during the quarter, compared to analyst estimates of $20.07 billion. Citigroup had a net margin of 4.95% and a return on equity of 6.26%. Citigroup’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. Sell-side analysts anticipate that Citigroup Inc. will post 5.82 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.76%. This is a positive change from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. Citigroup’s payout ratio is presently 62.75%.

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.