3,740 Shares in Citigroup Inc. $C Acquired by Orrstown Financial Services Inc.

Key Points

• Orrstown Financial Services Inc. has acquired a new stake in Citigroup, purchasing 3,740 shares valued at approximately $318,000 during the second quarter.
• Citigroup recently reported earnings of $1.96 EPS, exceeding expectations and showing an 8.2% increase in revenue compared to the previous year.
• The company announced a dividend increase to $0.60 per share, reflecting a 2.3% yield, with a current dividend payout ratio of 35.45%.

Orrstown Financial Services Inc. purchased a new position in shares of Citigroup Inc. (NYSE:C - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,740 shares of the company's stock, valued at approximately $318,000.

Other hedge funds also recently bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new position in Citigroup during the first quarter worth $28,000. American National Bank & Trust purchased a new position in Citigroup during the first quarter worth $29,000. Accent Capital Management LLC increased its position in Citigroup by 106.0% during the first quarter. Accent Capital Management LLC now owns 412 shares of the company's stock worth $29,000 after buying an additional 212 shares in the last quarter. Truvestments Capital LLC increased its position in Citigroup by 131.6% during the first quarter. Truvestments Capital LLC now owns 433 shares of the company's stock worth $31,000 after buying an additional 246 shares in the last quarter. Finally, Mascagni Wealth Management Inc. purchased a new position in Citigroup during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 71.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Citigroup from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley raised their price objective on Citigroup from $103.00 to $107.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler raised their price objective on Citigroup from $84.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Bank of America raised their price objective on Citigroup from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, UBS Group restated a "neutral" rating and set a $89.00 price objective on shares of Citigroup in a report on Tuesday, July 15th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $97.61.

Insiders Place Their Bets

In related news, Director Peter B. Henry sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $90.40, for a total value of $271,200.00. Following the completion of the sale, the director directly owned 2,140 shares of the company's stock, valued at $193,456. The trade was a 58.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.

Citigroup Stock Down 0.7%

Shares of C traded down $0.70 during midday trading on Tuesday, reaching $102.79. 10,516,908 shares of the company were exchanged, compared to its average volume of 15,453,560. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.61. Citigroup Inc. has a 1-year low of $55.51 and a 1-year high of $105.59. The stock has a 50-day moving average price of $95.45 and a 200-day moving average price of $81.05. The company has a market cap of $189.22 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.88 and a beta of 1.41.

Citigroup (NYSE:C - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. Citigroup had a return on equity of 7.29% and a net margin of 8.44%.The business had revenue of $21.67 billion for the quarter, compared to analysts' expectations of $20.75 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The company's revenue was up 8.2% compared to the same quarter last year. Citigroup has set its FY 2025 guidance at EPS. Research analysts expect that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Monday, August 4th were issued a $0.60 dividend. This is an increase from Citigroup's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 4th. Citigroup's dividend payout ratio is presently 35.45%.

Citigroup 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.