BidaskClub Lowers Citigroup Inc. (C) to Buy

BidaskClub lowered shares of Citigroup Inc. (NYSE:C) from a strong-buy rating to a buy rating in a report published on Tuesday, October 17th.

Other equities research analysts also recently issued research reports about the company. Atlantic Securities reissued an overweight rating and issued a $85.00 target price (up previously from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Bank of America Corporation reissued a neutral rating on shares of Citigroup in a report on Wednesday, October 11th. Zacks Investment Research raised Citigroup from a sell rating to a hold rating in a report on Friday, July 7th. Vetr raised Citigroup from a buy rating to a strong-buy rating and set a $76.34 target price for the company in a report on Thursday, August 3rd. Finally, BMO Capital Markets reissued a hold rating and issued a $65.00 target price on shares of Citigroup in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Citigroup currently has an average rating of Buy and an average price target of $74.77.

Shares of Citigroup (NYSE C) traded down $0.34 during midday trading on Tuesday, hitting $73.71. The company had a trading volume of 7,762,322 shares, compared to its average volume of 15,420,000. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.11. Citigroup has a 52-week low of $47.70 and a 52-week high of $76.14. The firm has a market capitalization of $193,540.00, a P/E ratio of 14.27, a PEG ratio of 1.46 and a beta of 1.57.

Citigroup (NYSE:C) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion during the quarter, compared to the consensus estimate of $17.87 billion. During the same period last year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. research analysts expect that Citigroup will post 5.29 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, November 3rd. Citigroup’s dividend payout ratio is currently 24.66%.

In related news, CEO Francisco Aristeguieta sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the transaction, the chief executive officer now directly owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in Citigroup during the 2nd quarter worth approximately $1,034,000. Catamount Wealth Management acquired a new position in Citigroup during the 2nd quarter worth approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its position in Citigroup by 206.0% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,030 shares in the last quarter. Dubuque Bank & Trust Co. lifted its position in Citigroup by 60.8% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 1,584 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 599 shares in the last quarter. Finally, Balentine LLC lifted its position in Citigroup by 20.2% during the 2nd quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 272 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Company Profile

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.

Analyst Recommendations for Citigroup (NYSE:C)

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