Montecito Bank & Trust Sells 154 Shares of Citigroup Inc. (NYSE:C)

Montecito Bank & Trust reduced its holdings in Citigroup Inc. (NYSE:C) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,067 shares of the company’s stock after selling 154 shares during the quarter. Montecito Bank & Trust’s holdings in Citigroup were worth $427,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Northwest Investment Counselors LLC acquired a new stake in Citigroup in the 3rd quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Citigroup in the second quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new stake in Citigroup during the third quarter worth about $31,000. GHP Investment Advisors Inc. increased its stake in Citigroup by 184.0% during the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock valued at $36,000 after acquiring an additional 368 shares during the period. Finally, Hazlett Burt & Watson Inc. raised its holdings in Citigroup by 69.3% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares in the last quarter. 71.72% of the stock is currently owned by institutional investors.

Citigroup Price Performance

Citigroup stock opened at $81.41 on Friday. Citigroup Inc. has a 52 week low of $52.24 and a 52 week high of $82.77. The business’s fifty day moving average is $72.47 and its two-hundred day moving average is $66.11. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $153.96 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.65 and a beta of 1.43.

Citigroup (NYSE:C) last announced its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.12. The company had revenue of $19.58 billion for the quarter, compared to analyst estimates of $19.51 billion. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. Citigroup’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. Equities research analysts forecast that Citigroup Inc. will post 7.51 earnings per share for the current fiscal year.

Citigroup declared that its board has initiated a stock buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Citigroup Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be given a $0.56 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.75%. Citigroup’s payout ratio is 37.65%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Oppenheimer decreased their price objective on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Barclays raised shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $95.00 in a report on Monday, January 6th. Evercore ISI raised their price objective on shares of Citigroup from $69.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on shares of Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price target on shares of Citigroup from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.93.

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.