Vetr Upgrades Citigroup (C) to “Buy”

Citigroup (NYSE:C) was upgraded by equities researchers at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $80.92 price objective on the financial services provider’s stock. Vetr‘s target price would suggest a potential upside of 5.72% from the stock’s previous close.

C has been the topic of several other research reports. Atlantic Securities reissued an “overweight” rating and issued a $85.00 price target (up previously from $75.00) on shares of Citigroup in a research note on Tuesday, September 26th. Bank of America reaffirmed a “neutral” rating on shares of Citigroup in a research report on Wednesday, October 11th. Raymond James Financial started coverage on Citigroup in a research report on Tuesday, October 31st. They issued a “hold” rating on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 target price on shares of Citigroup in a research report on Friday, October 6th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $83.00 target price (up previously from $73.00) on shares of Citigroup in a research report on Monday, October 9th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $75.83.

Citigroup (NYSE:C) opened at $76.54 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $203,852.55, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.55. Citigroup has a twelve month low of $55.23 and a twelve month high of $77.92.

Citigroup (NYSE:C) last posted its earnings results on Thursday, October 12th. The financial services provider reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.10. Citigroup had a return on equity of 7.48% and a net margin of 18.11%. The firm had revenue of $18.17 billion for the quarter, compared to analyst estimates of $17.87 billion. During the same period in the previous year, the company posted $1.24 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. equities analysts predict that Citigroup will post 5.31 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in C. Catamount Wealth Management bought a new stake in shares of Citigroup in the second quarter valued at approximately $100,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Citigroup by 206.0% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,530 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,030 shares during the period. Patten Group Inc. boosted its stake in shares of Citigroup by 6.6% in the first quarter. Patten Group Inc. now owns 1,765 shares of the financial services provider’s stock valued at $105,000 after buying an additional 110 shares during the period. Balentine LLC boosted its stake in shares of Citigroup by 20.2% in the second quarter. Balentine LLC now owns 1,617 shares of the financial services provider’s stock valued at $108,000 after buying an additional 272 shares during the period. Finally, Acrospire Investment Management LLC boosted its stake in shares of Citigroup by 21.4% in the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the financial services provider’s stock valued at $114,000 after buying an additional 300 shares during the period. 78.59% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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