M&T Bank Corp Has $11.03 Million Stock Holdings in Citigroup Inc. $C

M&T Bank Corp lowered its position in Citigroup Inc. (NYSE:C) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,582 shares of the company’s stock after selling 9,501 shares during the quarter. M&T Bank Corp’s holdings in Citigroup were worth $11,030,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC grew its stake in shares of Citigroup by 131.6% in the 1st quarter. Truvestments Capital LLC now owns 433 shares of the company’s stock valued at $31,000 after buying an additional 246 shares in the last quarter. DHJJ Financial Advisors Ltd. raised its position in Citigroup by 157.1% during the second quarter. DHJJ Financial Advisors Ltd. now owns 414 shares of the company’s stock valued at $35,000 after acquiring an additional 253 shares in the last quarter. WPG Advisers LLC acquired a new stake in Citigroup in the first quarter valued at approximately $38,000. Legacy Investment Solutions LLC bought a new stake in Citigroup in the second quarter worth approximately $38,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Citigroup during the 1st quarter worth $43,000. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

C opened at $106.66 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.62. The stock’s 50 day moving average price is $99.88 and its two-hundred day moving average price is $92.64. The firm has a market capitalization of $190.85 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21. Citigroup Inc. has a 12-month low of $55.51 and a 12-month high of $106.99.

Citigroup (NYSE:C) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.35. The company had revenue of $22.09 billion during the quarter, compared to analyst estimates of $20.92 billion. Citigroup had a return on equity of 7.91% and a net margin of 8.73%.The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.51 earnings per share. On average, equities analysts forecast that Citigroup Inc. will post 7.53 earnings per share for the current year.

Citigroup Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 3rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. Citigroup’s dividend payout ratio is 33.71%.

Analyst Ratings Changes

Several research firms recently issued reports on C. Truist Financial lifted their price objective on shares of Citigroup from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. UBS Group restated a “neutral” rating and set a $108.00 target price on shares of Citigroup in a report on Monday, November 24th. Keefe, Bruyette & Woods upped their price target on Citigroup from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Piper Sandler raised their price objective on Citigroup from $107.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley boosted their target price on Citigroup from $129.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Citigroup has a consensus rating of “Moderate Buy” and a consensus price target of $108.70.

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.