Citigroup Inc. $C Stock: First Citizens Bank & Trust Co. Boosts Stake

Key Points

• First Citizens Bank & Trust Co. more than doubled its Citigroup stake in the third quarter, increasing holdings by 112.8% to 31,096 shares valued at approximately $4.03 million. Institutional investors and hedge funds collectively own 71.72% of Citi.
• Citigroup reported strong third-quarter results, with earnings of $2.85 per share and revenue of $23.84 billion, while net income rose 40% year over year. Management raised its profitability outlook and returned about $4.1 billion to shareholders through dividends and buybacks.
• Despite the earnings beat, Citi shares opened down 1.6% at $122.53 as investors weighed potentially weaker future trading revenue, higher credit-loss provisions, capital concerns and a flat U.S. card business. Analysts maintain a “Moderate Buy” consensus with an average price target of $150.79.

First Citizens Bank & Trust Co. lifted its position in shares of Citigroup Inc. (NYSE:C - Free Report) by 112.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,096 shares of the company's stock after acquiring an additional 16,484 shares during the period. First Citizens Bank & Trust Co.'s holdings in Citigroup were worth $4,026,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Citigroup by 3.7% during the second quarter. State Street Corp now owns 80,956,349 shares of the company's stock valued at $11,199,986,000 after purchasing an additional 2,913,701 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Citigroup during the 2nd quarter valued at $3,244,602,000. Bank of America Corp DE grew its stake in Citigroup by 2.8% in the first quarter. Bank of America Corp DE now owns 26,869,012 shares of the company's stock valued at $3,047,215,000 after purchasing an additional 728,043 shares in the last quarter. Invesco Ltd. increased its holdings in Citigroup by 6.2% in the fourth quarter. Invesco Ltd. now owns 15,139,403 shares of the company's stock worth $1,766,617,000 after buying an additional 887,430 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Citigroup by 10.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,467,857 shares of the company's stock valued at $1,745,001,000 after purchasing an additional 1,210,006 shares in the last quarter. 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: Citigroup reported third-quarter earnings of $2.85 per share, above the roughly $2.65 analyst consensus, while revenue rose 7.9% year over year to approximately $23.85 billion. Net income increased 40% to $5.2 billion, supported by growth in Services, Wealth and Markets. Citi profit jumps 40% with higher investment banking, services and wealth revenue
• Positive Sentiment: Management raised its 2026 profitability outlook, citing strong Services growth, AI-driven efficiency gains and disciplined capital deployment. Citi also increased shareholder returns through dividends and share repurchases, with approximately $4.1 billion returned during the quarter. Citigroup Q3 Earnings Call Highlights Higher Return Outlook and AI Gains
• Positive Sentiment: Loan growth and deposits remained healthy, while Citi’s fixed-income trading results were stronger than expected. These trends support the bank’s turnaround and restructuring efforts.
• Neutral Sentiment: Royal Bank of Canada lowered its price target from $150 to $135 but maintained an “Outperform” rating, implying potential upside from recent levels. RBC lowers Citigroup price target
• Negative Sentiment: Investors questioned how durable the beat was because trading and investment-banking gains may cool from unusually strong prior-quarter levels. Management also indicated that fourth-quarter trading revenue could decline sharply, while deal activity has moderated. Citi Stock Falls Despite Earnings Beat
• Negative Sentiment: Higher credit-loss provisions, rising reserves, a flat U.S. card business and concerns about capital ratios added to investor caution. Several analysts subsequently reduced their price targets or downgraded the stock to Hold.
• Negative Sentiment: Unusually heavy put-option activity and elevated Treasury yields are reinforcing a cautious view of bank stocks. Regulatory scrutiny of large banks’ “debanking” practices is an additional potential overhang for Citigroup.

Citigroup Trading Down 1.6%

Shares of Citigroup stock opened at $122.53 on Thursday. Citigroup Inc. has a 52-week low of $95.00 and a 52-week high of $147.96. The firm has a 50-day moving average of $133.16 and a 200-day moving average of $131.71. The stock has a market cap of $208.99 billion, a PE ratio of 11.95, a PEG ratio of 0.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.99 and a current ratio of 1.00.

Citigroup (NYSE:C - Get Free Report) last posted its earnings results on Tuesday, October 13th. The company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.66 by $0.19. The firm had revenue of $23.84 billion for the quarter, compared to analysts' expectations of $23.74 billion. Citigroup had a net margin of 10.97% and a return on equity of 10.57%. The company's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 earnings per share. As a group, sell-side analysts forecast that Citigroup Inc. will post 11.19 EPS for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 3rd were paid a $0.67 dividend. This is a positive change from Citigroup's previous quarterly dividend of $0.60. The ex-dividend date was Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.2%. Citigroup's dividend payout ratio (DPR) is 28.94%.

Analyst Upgrades and Downgrades

Several research analysts have commented on C shares. Wells Fargo & Company lifted their price target on Citigroup from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 18th. Bank of America upped their price objective on Citigroup from $170.00 to $176.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Argus set a $150.00 price target on shares of Citigroup in a report on Wednesday, July 15th. HSBC began coverage on Citigroup in a report on Monday, September 28th. They set a "buy" rating and a $164.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of Citigroup from $149.00 to $147.00 and set an "overweight" rating for the company in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Citigroup presently has an average rating of "Moderate Buy" and an average price target of $150.79.

Citigroup Company Profile

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.

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