M&T Bank Corp Sells 85,785 Shares of Citigroup Inc. $C

Key Points

• M&T Bank Corp cut its stake in Citigroup by 77.7% in Q4, selling 85,785 shares and leaving 24,588 shares valued at $2.87 million.
• Citigroup beat Q1 expectations with EPS of $3.06 (est. $2.63) and revenue of $24.63B (est. $22.96B), and announced a $0.60 quarterly dividend (annualized $2.40, 1.9% yield; ex-dividend May 4).
• Insiders sold about 92,318 shares (~$10.8M) in the last quarter while institutions own ~71.7% of the stock; analysts' consensus is a Moderate Buy with an average target near $135.94 and some higher individual targets (Goldman $151).

M&T Bank Corp decreased its holdings in shares of Citigroup Inc. (NYSE:C - Free Report) by 77.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,588 shares of the company's stock after selling 85,785 shares during the quarter. M&T Bank Corp's holdings in Citigroup were worth $2,869,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in Citigroup by 87.6% during the 3rd quarter. Wolff Wiese Magana LLC now owns 257 shares of the company's stock valued at $26,000 after purchasing an additional 120 shares during the period. Richards Merrill & Peterson Inc. bought a new stake in Citigroup during the 4th quarter valued at approximately $28,000. Dunhill Financial LLC boosted its stake in Citigroup by 92.2% during the 3rd quarter. Dunhill Financial LLC now owns 319 shares of the company's stock valued at $32,000 after purchasing an additional 153 shares during the period. Guerra Advisors Inc bought a new stake in Citigroup during the 3rd quarter valued at approximately $33,000. Finally, MH & Associates Securities Management Corp ADV bought a new stake in Citigroup during the 4th quarter valued at approximately $35,000. Institutional investors own 71.72% of the company's stock.

Key Stories Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi said it will expand and add senior hires to its Japan and China investment banking teams to win more cross‑border M&A and advisory business — a direct revenue growth initiative in Asia that can boost fee income and franchise value. Citi to boost Japan, China investment banking teams, plans senior sector-focused hires
• Positive Sentiment: High‑profile endorsement: Jim Cramer publicly said Citi’s recent conference call was better than JPMorgan’s — media praise that can lift investor sentiment and drive short‑term flow into the stock. Jim Cramer Shares Why Citi’s (C) Conference Call Was Better Than JPMorgan’s
• Positive Sentiment: Analyst/sector momentum: Several pieces highlighting stronger Q1 results and upbeat outlooks for big investment banks (including Citi) are pushing investors toward the group; Citi’s own research/product activity (lifting targets on major tech names, outlining ETF flows) reinforces its revenue and research franchise. Buy These 3 Investment Bank Giants After Solid Q1 Earnings and Outlook
• Neutral Sentiment: Citi Singapore received awards from FinanceAsia and Forbes — positive for reputation and local franchise strength but likely to have limited immediate earnings impact. Citi Singapore receives dual award recognition from FinanceAsia and Forbes
• Neutral Sentiment: Broader market context: Financial stocks are rallying this afternoon, providing a sector tailwind that helps Citi’s stock — a macro/flow-driven boost rather than new company fundamentals. Sector Update: Financial Stocks Rise Late Afternoon

Citigroup Price Performance

NYSE:C opened at $129.13 on Tuesday. The firm has a market cap of $221.45 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.57 and a beta of 1.11. Citigroup Inc. has a 12 month low of $66.72 and a 12 month high of $135.29. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. The company's 50-day moving average price is $116.25 and its two-hundred day moving average price is $111.70.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.43. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.The firm had revenue of $24.63 billion during the quarter, compared to the consensus estimate of $22.96 billion. During the same quarter in the previous year, the company posted $1.96 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Citigroup Inc. will post 10.62 EPS for the current fiscal year.

Citigroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be given a $0.60 dividend. The ex-dividend date is Monday, May 4th. This represents a $2.40 annualized dividend and a yield of 1.9%. 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 Citigroup stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total value of $3,285,250.00. Following the completion of the transaction, the insider 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cantu Ernesto Torres sold 43,173 shares of Citigroup stock in a transaction on Friday, February 13th. The shares were sold at an average price of $111.09, for a total value of $4,796,088.57. Following the completion of the transaction, the insider owned 45,835 shares of the company's stock, valued at approximately $5,091,810.15. The trade was a 48.50% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 92,318 shares of company stock valued at $10,764,814. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group raised their price objective on Citigroup from $137.00 to $151.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their price objective on Citigroup from $134.00 to $131.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $139.00 price objective on shares of Citigroup in a research report on Wednesday, April 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Citigroup in a research report on Monday, April 20th. Finally, UBS Group reiterated a "neutral" rating and issued a $132.00 price objective on shares of Citigroup in a research report on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Citigroup presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.94.

Citigroup Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.