Bank of America Reiterates Buy Rating for Citigroup (NYSE:C)

Bank of America reaffirmed their buy rating on shares of Citigroup (NYSE:C) in a research report sent to investors on Monday morning, AnalystRatings.com reports. The brokerage currently has a $78.00 target price on the financial services provider’s stock.

C has been the subject of several other research reports. UBS Group reduced their target price on shares of Spotify from $182.00 to $180.00 and set a buy rating for the company in a research note on Tuesday, April 16th. HSBC reiterated a hold rating on shares of Societe Generale in a research note on Thursday, April 4th. Oppenheimer set a $15.00 target price on shares of Strongbridge Biopharma and gave the company a buy rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. assumed coverage on shares of Pinduoduo in a research note on Tuesday, July 9th. They issued an underweight rating and a $20.48 target price for the company. Finally, Morgan Stanley cut shares of GasLog Partners LP Unit from an overweight rating to an equal weight rating and reduced their target price for the company from $23.00 to $18.00 in a research note on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $78.90.

Citigroup stock opened at $71.79 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $163.77 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 0.77 and a beta of 1.74. Citigroup has a one year low of $48.42 and a one year high of $75.24. The stock’s fifty day simple moving average is $68.38.

Citigroup (NYSE:C) last posted its earnings results on Monday, July 15th. The financial services provider reported $1.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.17. The firm had revenue of $18.76 billion for the quarter, compared to the consensus estimate of $18.49 billion. Citigroup had a net margin of 18.24% and a return on equity of 10.10%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. Equities research analysts forecast that Citigroup will post 7.52 EPS for the current year.

In related news, CEO Stephen Bird sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $69.33, for a total value of $2,079,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.09% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Icon Wealth Partners LLC boosted its position in shares of Citigroup by 3.2% during the first quarter. Icon Wealth Partners LLC now owns 5,138 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 157 shares in the last quarter. Avestar Capital LLC lifted its position in Citigroup by 35.0% in the 1st quarter. Avestar Capital LLC now owns 610 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 158 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Citigroup by 1.9% in the 1st quarter. Belpointe Asset Management LLC now owns 8,483 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 161 shares in the last quarter. RB Capital Management LLC lifted its position in Citigroup by 3.4% in the 1st quarter. RB Capital Management LLC now owns 5,386 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 176 shares in the last quarter. Finally, Acima Private Wealth LLC lifted its position in Citigroup by 29.7% in the 1st quarter. Acima Private Wealth LLC now owns 829 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 190 shares in the last quarter. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

Citigroup Company Profile

Citigroup Inc, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. The company operates through two segments, Global Consumer Banking (GCB) and Institutional Clients Group (ICG).

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Analyst Recommendations for Citigroup (NYSE:C)

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