Bangor Savings Bank Reduces Holdings in Citigroup Inc. (NYSE:C)

Bangor Savings Bank reduced its stake in shares of Citigroup Inc. (NYSE:C) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,249 shares of the company’s stock after selling 368 shares during the quarter. Bangor Savings Bank’s holdings in Citigroup were worth $1,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lifestyle Asset Management Inc. grew its position in shares of Citigroup by 4.5% during the third quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock worth $233,000 after acquiring an additional 160 shares during the last quarter. Grove Bank & Trust grew its position in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the last quarter. MWA Asset Management increased its stake in Citigroup by 1.4% in the third quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the period. Bridge Creek Capital Management LLC boosted its stake in shares of Citigroup by 0.3% during the third quarter. Bridge Creek Capital Management LLC now owns 67,236 shares of the company’s stock worth $4,209,000 after buying an additional 175 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Citigroup by 9.3% during the third quarter. Venturi Wealth Management LLC now owns 2,048 shares of the company’s stock worth $128,000 after buying an additional 175 shares during the last quarter. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Trading Up 2.5 %

Shares of C opened at $72.74 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.96. Citigroup Inc. has a 1-year low of $50.51 and a 1-year high of $73.99. The stock has a market cap of $137.57 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The firm has a 50 day simple moving average of $69.50 and a 200-day simple moving average of $64.74.

Citigroup (NYSE:C) last released its quarterly earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. Equities analysts forecast that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $2.24 annualized dividend and a dividend yield of 3.08%. Citigroup’s dividend payout ratio is currently 64.93%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on C shares. Piper Sandler lifted their price objective on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays upgraded shares of Citigroup from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $95.00 in a research note on Monday. Truist Financial assumed coverage on Citigroup in a report on Tuesday. They issued a “buy” rating and a $85.00 price objective on the stock. Bank of America increased their target price on Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Wells Fargo & Company lifted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.80.

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.