Busey Bank Buys 8,401 Shares of Citigroup Inc. $C

Key Points

• Busey Bank increased its Citigroup stake by 4.2% in the first quarter, buying 8,401 additional shares and bringing its total holdings to 207,104 shares valued at about $23.5 million.
• Institutional interest in Citigroup remains strong, with several other funds also adding or adjusting positions and institutions now owning 71.72% of the stock.
• Analysts remain broadly positive on Citi, with a consensus rating of “Moderate Buy” and an average price target of $139.62, while the company also recently authorized a $30 billion share buyback plan.

Busey Bank increased its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,104 shares of the company's stock after purchasing an additional 8,401 shares during the quarter. Busey Bank's holdings in Citigroup were worth $23,488,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Citigroup by 166.9% during the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock worth $1,407,000 after acquiring an additional 12,499 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Citigroup by 20.5% in the second quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company's stock valued at $835,000 after acquiring an additional 1,669 shares in the last quarter. United Bank purchased a new position in Citigroup in the second quarter worth $972,000. Osterweis Capital Management Inc. increased its position in shares of Citigroup by 3,016.7% during the second quarter. Osterweis Capital Management Inc. now owns 935 shares of the company's stock worth $80,000 after purchasing an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC increased its position in shares of Citigroup by 26.9% during the second quarter. HUB Investment Partners LLC now owns 15,287 shares of the company's stock worth $1,301,000 after purchasing an additional 3,238 shares in the last quarter. Institutional investors own 71.72% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial raised their price objective on Citigroup from $147.00 to $158.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. The Goldman Sachs Group upped their target price on Citigroup from $137.00 to $151.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Oppenheimer cut Citigroup from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Piper Sandler reissued an "overweight" rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a report on Wednesday, April 15th. Finally, Jefferies Financial Group assumed coverage on Citigroup in a research note on Thursday, March 26th. They set a "buy" rating and a $135.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $139.62.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citigroup remains in focus heading into the next bank earnings cycle, with analysts noting that expectations for the financial sector have been steadily improving and that large banks like Citi will help kick off reporting later this month. This keeps attention on whether Citi can extend its recent earnings momentum. Article Title
• Positive Sentiment: Citigroup recently announced a leadership addition in wealth management, appointing Michael Yannell to lead hedge funds within its alternatives platform. The move suggests Citi is expanding higher-fee wealth offerings to meet client demand, which may support revenue growth. Article Title
• Neutral Sentiment: Citi also made news for trimming its bitcoin and ether price targets, reflecting a more cautious stance on crypto demand and delayed US regulation. This is more of a sentiment call on digital assets than a direct catalyst for Citigroup shares. Article Title
• Negative Sentiment: Citi warned that oil could slump to $60 a barrel as Middle East supply fears fade, which reinforces a more bearish macro view from the bank’s research team. While not directly tied to Citi’s core earnings, the call can weigh on market sentiment around its commodity and trading outlook. Article Title

Citigroup Price Performance

NYSE C opened at $139.93 on Monday. The company has a market cap of $238.67 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 0.60 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. The stock's fifty day moving average price is $132.49 and its 200 day moving average price is $121.94. Citigroup Inc. has a 1 year low of $85.48 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The company had revenue of $24.63 billion during the quarter, compared to analysts' expectations of $22.96 billion. During the same quarter in the previous year, the firm posted $1.96 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast that Citigroup Inc. will post 10.83 earnings per share for the current year.

Citigroup declared that its board has authorized a share buyback plan on Thursday, May 7th that authorizes the company to buyback $30.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Activity at Citigroup

In other Citigroup news, insider Edward Skyler sold 25,000 shares of Citigroup stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the completion of the sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company's stock in a transaction on 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 sale, the director directly owned 12,194 shares in the company, valued at $1,527,908.20. This trade represents a 14.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.11% of the stock is currently owned by corporate insiders.

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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