Bank of America Forecasts Strong Price Appreciation for Citigroup (NYSE:C) Stock

Key Points

• Bank of America has raised its price target for Citigroup (NYSE:C) from $115.00 to $120.00, indicating a potential upside of 19.71% based on the stock's current price.
• Multiple analysts have maintained a favorable outlook on Citigroup, with ratings of "buy" from Truist Financial and Weiss Ratings, alongside a "hold" rating from TD Cowen.
• Citigroup's recent quarterly earnings showed a revenue of $22.09 billion, exceeding expectations, although its earnings per share of $1.86 fell slightly short of the consensus estimate.

Citigroup (NYSE:C - Get Free Report) had its price target increased by Bank of America from $115.00 to $120.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 19.71% from the company's current price.

C has been the topic of several other research reports. Truist Financial increased their target price on Citigroup from $105.00 to $112.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Citigroup in a report on Wednesday, October 8th. TD Cowen boosted their price target on Citigroup from $105.00 to $110.00 and gave the stock a "hold" rating in a research note on Wednesday. Evercore ISI set a $77.00 price target on Citigroup in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods restated a "buy" rating on shares of Citigroup in a report on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.61.

Citigroup Stock Performance

Shares of C stock traded up $0.40 on Wednesday, hitting $100.24. The company had a trading volume of 4,381,103 shares, compared to its average volume of 15,333,870. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup has a twelve month low of $55.51 and a twelve month high of $105.59. The company has a 50-day moving average price of $97.25 and a 200-day moving average price of $84.16. The firm has a market cap of $184.54 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.37.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.03). The business had revenue of $22.09 billion during the quarter, compared to analysts' expectations of $20.92 billion. Citigroup had a net margin of 8.44% and a return on equity of 7.29%. Citigroup's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 EPS. Citigroup has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Citigroup will post 7.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in C. MorganRosel Wealth Management LLC acquired a new position in Citigroup in the 1st quarter worth approximately $28,000. Accent Capital Management LLC lifted its position in Citigroup by 106.0% during the 1st quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after acquiring an additional 212 shares during the last quarter. Truvestments Capital LLC lifted its position in Citigroup by 131.6% during the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after acquiring an additional 246 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of Citigroup during the 2nd quarter worth about $34,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in Citigroup by 157.1% in the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company's stock valued at $35,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds own 71.72% of the company's stock.

Citigroup Company 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.

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