First Interstate Bank Has $3.43 Million Position in Citigroup Inc. (NYSE:C)

First Interstate Bank lessened its stake in shares of Citigroup Inc. (NYSE:C) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,057 shares of the company’s stock after selling 640 shares during the period. First Interstate Bank’s holdings in Citigroup were worth $3,430,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC acquired a new position in shares of Citigroup during the 2nd quarter worth about $25,000. Beacon Capital Management LLC lifted its holdings in shares of Citigroup by 85.5% during the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock worth $29,000 after buying an additional 212 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the second quarter valued at approximately $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of Citigroup in the fourth quarter worth $29,000. Finally, Capital Advisors Ltd. LLC increased its position in Citigroup by 93.2% during the second quarter. Capital Advisors Ltd. LLC now owns 572 shares of the company’s stock worth $36,000 after acquiring an additional 276 shares during the period. Institutional investors own 71.72% of the company’s stock.

Wall Street Analyst Weigh In

C has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Citigroup from $66.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of Citigroup from $63.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, June 17th. Piper Sandler boosted their price target on Citigroup from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Oppenheimer raised their price objective on Citigroup from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets upped their target price on Citigroup from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.06.

Citigroup Stock Up 0.8 %

Shares of C opened at $59.54 on Tuesday. The business’s fifty day moving average price is $62.36 and its two-hundred day moving average price is $61.32. The firm has a market capitalization of $113.59 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.64 and a beta of 1.45. Citigroup Inc. has a 52 week low of $38.17 and a 52 week high of $67.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.94 and a current ratio of 0.94.

Citigroup (NYSE:C) last posted its quarterly earnings results on Friday, July 12th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $20.14 billion for the quarter, compared to analysts’ expectations of $20.07 billion. Citigroup had a return on equity of 6.26% and a net margin of 4.95%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 earnings per share. On average, analysts predict that Citigroup Inc. will post 5.82 earnings per share for the current year.

Citigroup Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 5th were given a dividend of $0.56 per share. This is a boost from Citigroup’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.76%. Citigroup’s payout ratio is currently 62.75%.

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.