Erste Group Bank Boosts Earnings Estimates for Citigroup

Key Points

• Erste Group Bank raised its FY2027 EPS estimate for Citigroup to $12.64 from $12.53, above the current consensus estimate of $10.83 per share.
• Citigroup continues to receive broadly positive analyst coverage, with a consensus rating of “Moderate Buy” and an average target price of $139.62; several firms recently raised price targets, though one downgraded the stock to market perform.
• The bank is returning more capital to shareholders after passing the Fed stress test, including a $30 billion buyback authorization and a recently paid quarterly dividend of $0.60 per share.

Citigroup Inc. (NYSE:C - Free Report) - Equities researchers at Erste Group Bank upped their FY2027 earnings per share estimates for shares of Citigroup in a research note issued to investors on Thursday, June 25th. Erste Group Bank analyst H. Engel now expects that the company will post earnings of $12.64 per share for the year, up from their previous estimate of $12.53. The consensus estimate for Citigroup's current full-year earnings is $10.83 per share.

C has been the subject of several other research reports. Keefe, Bruyette & Woods increased their target price on shares of Citigroup from $140.00 to $153.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Evercore set a $139.00 price target on shares of Citigroup in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Citigroup from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Oppenheimer cut Citigroup from an "outperform" rating to a "market perform" rating in a report on Tuesday. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 target price (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Citigroup currently has a consensus rating of "Moderate Buy" and an average target price of $139.62.

Citigroup Price Performance

NYSE C opened at $139.97 on Wednesday. The firm's 50 day moving average is $131.97 and its 200-day moving average is $121.35. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $238.73 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.12. Citigroup has a 12-month low of $84.77 and a 12-month high of $147.96.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. Citigroup had a net margin of 9.35% and a return on equity of 9.19%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $1.96 EPS.

Citigroup announced that its board has authorized a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Citigroup Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 4th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, May 4th. Citigroup's payout ratio is presently 29.74%.

Insider Buying and Selling at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the sale, the insider owned 182,022 shares in the company, valued at $23,919,511.02. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Cunningham Dugan sold 2,117 shares of Citigroup stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $125.30, for a total transaction of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares of the company's stock, valued at approximately $1,527,908.20. This trade represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.11% of the company's stock.

Hedge Funds Weigh In On Citigroup

A number of hedge funds and other institutional investors have recently bought and sold shares of C. Cora Capital Advisors LLC raised its stake in Citigroup by 3.1% in the first quarter. Cora Capital Advisors LLC now owns 2,609 shares of the company's stock valued at $296,000 after buying an additional 78 shares during the period. CFS Investment Advisory Services LLC lifted its position in shares of Citigroup by 0.4% in the first quarter. CFS Investment Advisory Services LLC now owns 20,596 shares of the company's stock valued at $2,336,000 after buying an additional 79 shares during the last quarter. Verus Capital Partners LLC boosted its stake in shares of Citigroup by 3.1% during the 4th quarter. Verus Capital Partners LLC now owns 2,748 shares of the company's stock worth $321,000 after acquiring an additional 82 shares during the period. CFO Capital Management LLC boosted its stake in shares of Citigroup by 1.5% during the 1st quarter. CFO Capital Management LLC now owns 5,495 shares of the company's stock worth $590,000 after acquiring an additional 83 shares during the period. Finally, Elmwood Wealth Management Inc. increased its holdings in shares of Citigroup by 1.3% during the 4th quarter. Elmwood Wealth Management Inc. now owns 6,845 shares of the company's stock worth $799,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 71.72% of the company's stock.

More Citigroup News

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup has been highlighted for its growing use of AI to improve efficiency, lower costs, and enhance customer experience, which could support longer-term margin expansion. Citigroup Bets Big on AI to Drive Efficiency & Long-Term Growth
• Positive Sentiment: The bank also recently completed the Federal Reserve stress test and announced a $30 billion share repurchase program along with a higher dividend, signaling confidence in capital strength and shareholder returns. Should Citi’s (C) US$30 Billion Buyback and Dividend Hike Require Action From Investors?
• Neutral Sentiment: Citi’s own market commentary noted bearish flows are building in the Nasdaq and S&P 500, suggesting a more risk-off backdrop that could pressure financial stocks broadly rather than just Citigroup specifically. Citi says bearish flows are building in Nasdaq and S&P 500
• Negative Sentiment: A separate note warned that major bank stocks are already trading near highs and may be due for a pullback, which can weigh on sentiment around Citigroup even if its fundamentals remain solid. Bank Stocks Are Doing Great, but It’s Time to ‘Take the Money and Run’

About Citigroup

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi's principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.

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