Citigroup’s (C) Buy Rating Reaffirmed at TD Cowen

Citigroup (NYSE:C)‘s stock had its “buy” rating restated by equities research analysts at TD Cowen in a research note issued to investors on Thursday, Benzinga reports. They currently have a $150.00 price objective on the stock. TD Cowen’s target price points to a potential upside of 17.92% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Truist Financial decreased their target price on Citigroup from $158.00 to $154.00 and set a “buy” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings cut shares of Citigroup from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Zacks Research downgraded shares of Citigroup from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $150.00 target price on shares of Citigroup in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price target on shares of Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and an average price target of $151.28.

Citigroup Trading Down 1.0%

Shares of Citigroup stock opened at $127.21 on Thursday. Citigroup has a 12-month low of $93.66 and a 12-month high of $147.96. The company has a market cap of $216.97 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.57 and a beta of 1.13. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The company’s 50-day moving average price is $133.89 and its 200-day moving average price is $131.18.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, July 14th. The company reported $3.15 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a net margin of 10.23% and a return on equity of 10.15%. The firm had revenue of $24.77 billion for the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 14.5% on a year-over-year basis. On average, equities analysts expect that Citigroup will post 11.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Citigroup

A number of large investors have recently added to or reduced their stakes in C. Venture Visionary Partners LLC boosted its position in Citigroup by 2.3% during the third quarter. Venture Visionary Partners LLC now owns 11,701 shares of the company’s stock valued at $1,515,000 after buying an additional 266 shares during the period. Elevation Wealth Partners LLC lifted its stake in shares of Citigroup by 24.6% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,932 shares of the company’s stock valued at $245,000 after acquiring an additional 382 shares during the last quarter. Matrix Trust Co boosted its holdings in Citigroup by 3.9% during the 3rd quarter. Matrix Trust Co now owns 14,909 shares of the company’s stock valued at $1,930,000 after acquiring an additional 559 shares during the period. First Community Trust NA boosted its holdings in Citigroup by 113.0% during the 3rd quarter. First Community Trust NA now owns 1,331 shares of the company’s stock valued at $172,000 after acquiring an additional 706 shares during the period. Finally, Weaver Consulting Group grew its position in Citigroup by 15.0% during the 3rd quarter. Weaver Consulting Group now owns 2,869 shares of the company’s stock worth $372,000 after acquiring an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Citigroup News Roundup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Valuation recovery potential: Barron’s argues Citigroup could gain roughly 28% if it rerates closer to peer-bank valuations, highlighting the stock’s relative discount and ongoing restructuring progress. Citigroup Has Trailed Financial Stocks. Expect That to Change.
• Positive Sentiment: Digital-payments expansion: Citigroup and Coinbase expanded their collaboration to connect Citi’s payment infrastructure with stablecoin rails, potentially broadening transaction, treasury-management and cross-border-payment opportunities. Citi Just Connected Its $6 Trillion Payment Network to Stablecoin Rails
• Positive Sentiment: Earnings expectations remain constructive: Analysts expect year-over-year earnings growth in Citigroup’s upcoming report, while the company’s latest quarter exceeded consensus estimates for both revenue and EPS. Citigroup Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Analyst targets remain above the market price but were trimmed: UBS lowered its target to $139 from $142 while maintaining a neutral rating, and Autonomous Research reduced its target to $146 from $147 while keeping an outperform rating. UBS Group Cuts Citigroup Price Target
• Negative Sentiment: Macro pressure on banks: Spiking Treasury yields can raise funding costs, reduce bond-portfolio values and increase concerns about credit losses, creating a headwind ahead of third-quarter bank earnings. Banks Under Pressure from Spiking Yields Ahead of Q3 Results

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City and listed on the New York Stock Exchange under the symbol C. Through its subsidiaries and businesses, Citi provides banking, lending, investment, payments, wealth management and other financial services to consumers, businesses, governments and institutional clients.

Citi’s principal businesses include Services, which supports institutional clients with treasury, trade, securities services and related solutions; Markets, which provides sales, trading, research and financing services; Banking, which offers investment banking and corporate banking; and Wealth, which provides private banking and wealth management.