DZ Bank Upgrades Citigroup (C) to “Buy”

Citigroup (NYSE:C) was upgraded by analysts at DZ Bank from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other research analysts have also issued reports about the company. BidaskClub lowered Citigroup from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 17th. Nomura boosted their target price on Citigroup from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Vetr raised Citigroup from a “hold” rating to a “buy” rating and set a $80.92 target price for the company in a research report on Monday, December 4th. Credit Suisse Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Citigroup in a research report on Tuesday, December 12th. Finally, Wells Fargo & Co set a $95.00 target price on Citigroup and gave the company a “buy” rating in a research report on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Citigroup currently has a consensus rating of “Buy” and an average price target of $79.44.

Citigroup (NYSE C) opened at $74.82 on Wednesday. Citigroup has a 12-month low of $56.14 and a 12-month high of $80.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $197,820.00, a PE ratio of 13.48, a PEG ratio of 1.37 and a beta of 1.54.

Citigroup (NYSE:C) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.09. Citigroup had a positive return on equity of 7.60% and a negative net margin of 7.05%. The firm had revenue of $17.26 billion during the quarter, compared to analyst estimates of $17.23 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. research analysts predict that Citigroup will post 6.4 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Vantage Financial Partners Ltd. Inc. acquired a new position in Citigroup during the 2nd quarter valued at about $1,034,000. Catamount Wealth Management acquired a new position in Citigroup during the 2nd quarter valued at about $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Citigroup by 206.0% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock worth $102,000 after buying an additional 1,030 shares during the last quarter. Sawyer & Company Inc purchased a new position in shares of Citigroup in the 4th quarter worth approximately $117,000. Finally, Baldwin Brothers Inc. MA boosted its stake in shares of Citigroup by 88.4% in the 4th quarter. Baldwin Brothers Inc. MA now owns 1,598 shares of the financial services provider’s stock worth $119,000 after buying an additional 750 shares during the last quarter. Institutional investors and hedge funds own 80.94% of the company’s stock.

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About Citigroup

Citigroup Inc (Citi) is a financial services holding company. The Company’s whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management.