Cadence Bank Grows Stake in Citigroup Inc. (NYSE:C)

Cadence Bank raised its stake in shares of Citigroup Inc. (NYSE:C) by 14.5% during the third quarter, HoldingsChannel reports. The firm owned 4,011 shares of the company’s stock after buying an additional 507 shares during the quarter. Cadence Bank’s holdings in Citigroup were worth $251,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of C. POM Investment Strategies LLC bought a new position in Citigroup during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Citigroup during the third quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Citigroup in the second quarter worth approximately $31,000. Triad Wealth Partners LLC bought a new stake in shares of Citigroup during the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC boosted its holdings in Citigroup by 1,139.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 52,738 shares of the company’s stock valued at $33,000 after acquiring an additional 48,484 shares during the period. 71.72% of the stock is owned by institutional investors.

Citigroup Stock Up 0.6 %

NYSE:C opened at $70.16 on Friday. The company’s 50-day simple moving average is $64.98 and its 200-day simple moving average is $62.99. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.96 and a current ratio of 0.96. Citigroup Inc. has a fifty-two week low of $44.56 and a fifty-two week high of $71.19. The stock has a market capitalization of $132.69 billion, a P/E ratio of 20.34, a P/E/G ratio of 0.79 and a beta of 1.44.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a net margin of 4.70% and a return on equity of 6.19%. Citigroup’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, equities analysts anticipate that Citigroup Inc. will post 5.85 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Monday, November 4th. Citigroup’s dividend payout ratio (DPR) is presently 64.93%.

Analysts Set New Price Targets

Several research firms have recently weighed in on C. The Goldman Sachs Group decreased their target price on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Bank of America raised their price target on shares of Citigroup from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer boosted their price objective on shares of Citigroup from $91.00 to $107.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Evercore ISI raised their target price on shares of Citigroup from $63.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on Citigroup from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $73.00.

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.