Umpqua Bank Grows Holdings in Citigroup Inc. (NYSE:C)

Umpqua Bank increased its position in Citigroup Inc. (NYSE:C) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,330 shares of the company’s stock after buying an additional 2,725 shares during the period. Umpqua Bank’s holdings in Citigroup were worth $1,273,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. POM Investment Strategies LLC purchased a new position in shares of Citigroup in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new stake in Citigroup during the 3rd quarter worth approximately $28,000. Beacon Capital Management LLC raised its holdings in Citigroup by 85.5% in the first quarter. Beacon Capital Management LLC now owns 460 shares of the company’s stock valued at $29,000 after acquiring an additional 212 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Citigroup during the 2nd quarter valued at $31,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Citigroup in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

Citigroup Price Performance

NYSE:C traded up $6.32 during trading hours on Wednesday, reaching $69.99. 3,762,353 shares of the company were exchanged, compared to its average volume of 14,244,082. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.96 and a quick ratio of 0.94. Citigroup Inc. has a 1-year low of $41.28 and a 1-year high of $70.01. The company has a market capitalization of $133.53 billion, a P/E ratio of 18.46, a P/E/G ratio of 0.71 and a beta of 1.44. The business has a 50 day moving average of $61.98 and a 200 day moving average of $62.19.

Citigroup (NYSE:C) last announced its earnings results on Tuesday, October 15th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.86 billion. During the same period in the previous year, the business earned $1.52 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts forecast that Citigroup Inc. will post 5.87 EPS for the current year.

Citigroup Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, November 4th. Citigroup’s dividend payout ratio is currently 64.93%.

Analysts Set New Price Targets

C has been the topic of several recent analyst reports. Barclays lifted their target price on Citigroup from $63.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Piper Sandler boosted their price target on shares of Citigroup from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Bank of America increased their target price on shares of Citigroup from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Evercore ISI upped their price target on Citigroup from $63.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their price objective on Citigroup from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.06.

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.