Bangor Savings Bank Trims Position in Citigroup Inc. (NYSE:C)

Bangor Savings Bank lowered its position in Citigroup Inc. (NYSE:C) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Neville Rodie & Shaw Inc. purchased a new position in Citigroup in the fourth quarter worth approximately $274,000. CWA Asset Management Group LLC lifted its stake in shares of Citigroup by 193.1% in the 4th quarter. CWA Asset Management Group LLC now owns 47,644 shares of the company’s stock valued at $3,354,000 after purchasing an additional 31,387 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Citigroup by 32.2% during the 4th quarter. Nordea Investment Management AB now owns 7,115,440 shares of the company’s stock worth $501,994,000 after purchasing an additional 1,731,527 shares during the period. GAMMA Investing LLC increased its position in shares of Citigroup by 12.2% during the 4th quarter. GAMMA Investing LLC now owns 30,381 shares of the company’s stock worth $2,139,000 after purchasing an additional 3,308 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Citigroup by 64.7% in the 4th quarter. Versant Capital Management Inc now owns 2,341 shares of the company’s stock valued at $165,000 after buying an additional 920 shares during the period. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Up 2.5 %

Shares of Citigroup stock opened at $72.74 on Tuesday. 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 Inc. has a 52-week low of $50.51 and a 52-week high of $73.99. The company has a market capitalization of $137.57 billion, a P/E ratio of 21.08, a P/E/G ratio of 0.80 and a beta of 1.43. The company has a 50 day moving average of $69.50 and a 200 day moving average of $64.74.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, October 15th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. The company’s revenue for the quarter 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, research analysts forecast that Citigroup Inc. will post 5.86 EPS for the current fiscal year.

Citigroup Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on C shares. Morgan Stanley lowered their target price on shares of Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Piper Sandler lifted their target price on shares of Citigroup from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Oppenheimer decreased their price target on Citigroup from $110.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods lifted their price objective on Citigroup from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday. Finally, 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

Citigroup Company 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.