BMO Capital Markets Raises Citigroup (C) Price Target to $75.00

Citigroup (NYSE:C) had its target price increased by BMO Capital Markets from $75.00 to $75.00 in a research note released on Wednesday morning. They currently have a market perform rating on the financial services provider’s stock. The analysts noted that the move was a valuation call.

A number of other research firms also recently issued reports on C. Bank of America reiterated a neutral rating on shares of Citigroup in a report on Wednesday, October 11th. Wells Fargo & Co reiterated a buy rating on shares of Citigroup in a report on Monday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $80.00 to $87.00 and gave the company an outperform rating in a report on Thursday, December 14th. Atlantic Securities reiterated an overweight rating and issued a $85.00 price objective (up from $75.00) on shares of Citigroup in a report on Tuesday, September 26th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $75.00 price objective on shares of Citigroup in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Citigroup currently has a consensus rating of Buy and an average target price of $79.30.

Shares of Citigroup (NYSE:C) traded up $0.91 on Wednesday, reaching $78.30. 17,810,829 shares of the company’s stock were exchanged, compared to its average volume of 16,460,000. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.01 and a current ratio of 1.01. Citigroup has a 1 year low of $55.23 and a 1 year high of $78.44. The company has a market capitalization of $207,030.00, a price-to-earnings ratio of -27.09, a P/E/G ratio of 1.47 and a beta of 1.56.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.09. Citigroup had a negative net margin of 7.05% and a positive return on equity of 7.60%. The company had revenue of $17.26 billion for the quarter, compared to the consensus estimate of $17.23 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. research analysts forecast that Citigroup will post 6.33 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 5th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 1.63%. Citigroup’s payout ratio is -44.29%.

Several large investors have recently added to or reduced their stakes in the business. V Wealth Management LLC increased its holdings in shares of Citigroup by 29.1% in the fourth quarter. V Wealth Management LLC now owns 4,181 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 942 shares during the last quarter. Personal Capital Advisors Corp acquired a new position in shares of Citigroup in the fourth quarter valued at $314,000. Cibc Bank USA increased its holdings in shares of Citigroup by 7.0% in the fourth quarter. Cibc Bank USA now owns 31,586 shares of the financial services provider’s stock valued at $2,350,000 after purchasing an additional 2,080 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Citigroup by 50.9% in the fourth quarter. Diversified Trust Co now owns 36,431 shares of the financial services provider’s stock valued at $2,711,000 after purchasing an additional 12,294 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Citigroup by 1,044.8% in the fourth quarter. State of Alaska Department of Revenue now owns 230,536 shares of the financial services provider’s stock valued at $17,151,000 after purchasing an additional 210,398 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

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About Citigroup

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.

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