Bank of America Boosts Citigroup (NYSE:C) Price Target to $90.00

Citigroup (NYSE:C) had its target price boosted by Bank of America from $78.00 to $90.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 26.02% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Evercore ISI upped their target price on shares of Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price objective on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Oppenheimer boosted their target price on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays upped their price objective on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group lowered their price target on shares of Citigroup from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Citigroup Stock Performance

Shares of NYSE C opened at $71.42 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.55. Citigroup has a 52-week low of $46.40 and a 52-week high of $72.80. The stock has a market capitalization of $135.07 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 0.80 and a beta of 1.45. The stock’s fifty day simple moving average is $65.67 and its 200 day simple moving average is $63.19.

Citigroup (NYSE:C) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. As a group, sell-side analysts forecast that Citigroup will post 5.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in C. Franklin Resources Inc. boosted its position in Citigroup by 18.5% during the 3rd quarter. Franklin Resources Inc. now owns 30,027,213 shares of the company’s stock valued at $1,998,976,000 after buying an additional 4,680,713 shares during the period. Acadian Asset Management LLC boosted its position in Citigroup by 527.5% during the 2nd quarter. Acadian Asset Management LLC now owns 2,498,277 shares of the company’s stock valued at $158,521,000 after acquiring an additional 2,100,135 shares in the last quarter. Caxton Associates LP raised its holdings in Citigroup by 96.1% in the second quarter. Caxton Associates LP now owns 3,952,428 shares of the company’s stock worth $250,821,000 after purchasing an additional 1,937,038 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in Citigroup by 70.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,531,827 shares of the company’s stock worth $283,692,000 after purchasing an additional 1,865,628 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of Citigroup by 9.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 15,676,463 shares of the company’s stock valued at $981,347,000 after purchasing an additional 1,404,120 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

About Citigroup

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.