Keefe, Bruyette & Woods Issues Positive Forecast for Citigroup (NYSE:C) Stock Price

Citigroup (NYSE:C) had its target price raised by research analysts at Keefe, Bruyette & Woods from $85.00 to $92.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 17.30% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company raised their target price on shares of Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Truist Financial started coverage on shares of Citigroup in a report on Tuesday, January 7th. They set a “buy” rating and a $85.00 price objective on the stock. Barclays upgraded Citigroup from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $95.00 in a report on Monday, January 6th. Oppenheimer cut their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI boosted their price target on Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Citigroup presently has a consensus rating of “Moderate Buy” and an average price target of $80.80.

Citigroup Trading Up 0.2 %

NYSE:C traded up $0.16 during midday trading on Thursday, hitting $78.43. The stock had a trading volume of 8,618,412 shares, compared to its average volume of 17,412,332. The stock has a 50-day moving average of $70.78 and a 200 day moving average of $65.32. The company has a market capitalization of $148.33 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 0.59 and a beta of 1.43. Citigroup has a one year low of $50.51 and a one year high of $79.25. 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 issued its earnings results on Wednesday, January 15th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.12. The business had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.84 EPS. As a group, sell-side analysts forecast that Citigroup will post 5.88 EPS for the current year.

Citigroup announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of C. Northwest Investment Counselors LLC purchased a new position in shares of Citigroup during the third quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Citigroup during the 2nd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of Citigroup in the 3rd quarter valued at about $31,000. GHP Investment Advisors Inc. boosted its stake in shares of Citigroup by 184.0% in the third quarter. GHP Investment Advisors Inc. now owns 568 shares of the company’s stock worth $36,000 after buying an additional 368 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Citigroup by 69.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 635 shares of the company’s stock worth $39,000 after buying an additional 260 shares during the last quarter. 71.72% of the stock is owned by institutional investors and hedge funds.

About Citigroup

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.