Citigroup Inc. (NYSE:C) Stock Position Raised by Commerce Bank

Commerce Bank lifted its stake in shares of Citigroup Inc. (NYSE:C) by 149.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,288 shares of the company’s stock after purchasing an additional 124,138 shares during the period. Commerce Bank’s holdings in Citigroup were worth $10,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Capital Management LLC purchased a new position in shares of Citigroup during the fourth quarter valued at $26,000. Frazier Financial Advisors LLC purchased a new position in Citigroup during the 4th quarter valued at about $29,000. Rakuten Securities Inc. acquired a new position in shares of Citigroup in the 4th quarter valued at about $35,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Citigroup in the 4th quarter valued at about $39,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Citigroup by 52.5% in the fourth quarter. Venturi Wealth Management LLC now owns 796 shares of the company’s stock worth $41,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 71.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on C. Piper Sandler boosted their price objective on shares of Citigroup from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Oppenheimer dropped their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. HSBC increased their price objective on Citigroup from $61.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their target price on Citigroup from $54.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $80.00 price target on shares of Citigroup in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.66.

Citigroup Stock Performance

Shares of NYSE C traded up $0.56 during trading hours on Friday, hitting $63.58. 9,424,967 shares of the company’s stock were exchanged, compared to its average volume of 10,878,002. The company’s 50-day moving average price is $61.76 and its 200-day moving average price is $55.07. Citigroup Inc. has a 1-year low of $38.17 and a 1-year high of $64.98. The stock has a market capitalization of $121.28 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 0.94 and a beta of 1.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.95 and a quick ratio of 0.95.

Citigroup (NYSE:C) last issued its quarterly earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. The company had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same period in the previous year, the company earned $1.86 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts expect that Citigroup Inc. will post 5.98 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.53 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.12 annualized dividend and a dividend yield of 3.33%. Citigroup’s payout ratio is 62.72%.

Citigroup Profile

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.