Citigroup (NYSE:C) Stock Rated “Buy” in New Coverage at TD Cowen

TD Cowen began coverage on shares of Citigroup (NYSE:C) in a research report released on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $150.00 price objective on the stock.

Several other research firms also recently issued reports on C. Oppenheimer downgraded shares of Citigroup from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Truist Financial reduced their price objective on Citigroup from $158.00 to $154.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Argus set a $150.00 price objective on Citigroup in a report on Wednesday, July 15th. Bank of America lifted their price target on shares of Citigroup from $170.00 to $176.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Evercore set a $140.00 target price on shares of Citigroup in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.28.

Citigroup Stock Up 1.2%

Shares of C stock opened at $129.61 on Thursday. Citigroup has a 12 month low of $93.66 and a 12 month high of $147.96. The firm has a market cap of $221.06 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.57 and a beta of 1.13. The stock has a 50 day moving average of $133.74 and a 200-day moving average of $131.30. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

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

Citigroup Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 3rd were paid a $0.67 dividend. The ex-dividend date was Monday, August 3rd. This represents a $2.68 annualized dividend and a dividend yield of 2.1%. This is a boost from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio is presently 28.94%.

Hedge Funds Weigh In On Citigroup

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oak Grove Capital LLC bought a new position in shares of Citigroup in the third quarter worth about $518,000. Mirador Capital Partners LP grew its stake in shares of Citigroup by 3.4% during the third quarter. Mirador Capital Partners LP now owns 43,155 shares of the company’s stock valued at $5,588,000 after purchasing an additional 1,428 shares during the last quarter. Balefire LLC increased its stake in shares of Citigroup by 3.5% in the 3rd quarter. Balefire LLC now owns 8,840 shares of the company’s stock valued at $1,145,000 after buying an additional 297 shares during the period. Avity Investment Management Inc. increased its position in Citigroup by 16.6% in the third quarter. Avity Investment Management Inc. now owns 148,799 shares of the company’s stock worth $19,266,000 after purchasing an additional 21,146 shares during the period. Finally, Riversedge Advisors LLC grew its position in shares of Citigroup by 38.4% during the 3rd quarter. Riversedge Advisors LLC now owns 8,765 shares of the company’s stock worth $1,135,000 after buying an additional 2,433 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Positive pre-earnings outlook: Analysts expect third-quarter results to benefit from stronger net interest income and market revenues, while cost controls and shareholder returns remain key areas to watch. Citigroup stock ahead of Q3 earnings
• Positive Sentiment: New buy rating and upside target: TD Cowen initiated coverage of Citigroup with a “buy” rating and a $150 price target, implying meaningful upside from recent trading levels and reinforcing the view that Citi’s valuation could improve as its transformation progresses. TD Cowen coverage report
• Positive Sentiment: Private-bank expansion: Citi is adding regional leadership under former Bank of America executive Chris Biotti and targeting approximately $3 trillion in untapped North American client assets. Successful execution could strengthen fee income and help Citi compete more effectively in wealth management. Citi private bank expansion
• Positive Sentiment: AI and efficiency initiatives: Citi is shortening its investment-banking analyst program to two years while deploying AI tools to automate repetitive work. Management expects faster promotion paths and a more efficient talent model, although benefits will depend on implementation. Citigroup investment banking analyst program
• Neutral Sentiment: Valuation debate: Citi’s strong multi-year share-price performance has prompted questions about whether its returns on capital and profitability justify further gains. Optimists argue the bank could rerate closer to peers, while investors may demand more evidence from upcoming results. Citigroup valuation analysis
• Negative Sentiment: Mixed analyst signals and macro risks: UBS lowered its Citigroup price target to $139, and sharply rising bond yields could pressure bank valuations, funding costs and credit conditions ahead of earnings. UBS cuts Citigroup price target

About Citigroup

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.