First American Trust FSB Has $7.08 Million Position in Citigroup Inc. (C)
First American Trust FSB lifted its holdings in Citigroup Inc. (NYSE:C) by 17.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,892 shares of the financial services provider’s stock after buying an additional 15,858 shares during the quarter. Citigroup accounts for 2.0% of First American Trust FSB’s portfolio, making the stock its 11th biggest holding. First American Trust FSB’s holdings in Citigroup were worth $7,082,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of C. Patten Group Inc. increased its stake in 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 purchasing an additional 110 shares during the last quarter. Arrow Financial Corp increased its stake in Citigroup by 4.7% in the first quarter. Arrow Financial Corp now owns 1,896 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 85 shares during the last quarter. Advantage Investment Management LLC increased its stake in Citigroup by 109.3% in the first quarter. Advantage Investment Management LLC now owns 1,965 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 1,026 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Citigroup in the first quarter valued at $123,000. Finally, Parkside Financial Bank & Trust increased its stake in Citigroup by 15.0% in the first quarter. Parkside Financial Bank & Trust now owns 2,121 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.
Citigroup Inc. (NYSE:C) traded up 0.8631% during mid-day trading on Wednesday, reaching $69.3837. The company had a trading volume of 8,583,337 shares. The stock has a market capitalization of $189.04 billion, a price-to-earnings ratio of 13.8906 and a beta of 1.47. Citigroup Inc. has a 52-week low of $45.16 and a 52-week high of $69.86. The company’s 50 day moving average is $67.76 and its 200 day moving average is $63.36.
Citigroup (NYSE:C) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.07. Citigroup had a net margin of 18.11% and a return on equity of 7.32%. The firm had revenue of $17.90 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $1.24 EPS. Citigroup’s revenue was up 2.0% on a year-over-year basis. Equities analysts predict that Citigroup Inc. will post $5.22 earnings per share for the current year.
Citigroup announced that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to buyback $15.60 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Monday, August 7th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, August 3rd. This is a positive change from Citigroup’s previous quarterly dividend of $0.16. Citigroup’s payout ratio is currently 25.55%.
In other Citigroup news, CEO Francisco Aristeguieta sold 40,000 shares of Citigroup stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $67.55, for a total transaction of $2,702,000.00. Following the completion of the sale, the chief executive officer now owns 77,570 shares of the company’s stock, valued at approximately $5,239,853.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey R. Walsh sold 5,000 shares of Citigroup stock in a transaction on Friday, August 4th. The stock was sold at an average price of $68.97, for a total transaction of $344,850.00. Following the sale, the insider now directly owns 56,394 shares of the company’s stock, valued at approximately $3,889,494.18. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.
Several research firms recently commented on C. Credit Suisse Group reiterated a “buy” rating and issued a $73.00 target price on shares of Citigroup in a research note on Wednesday. Societe Generale raised Citigroup from a “sell” rating to a “hold” rating and boosted their price target for the company from $63.00 to $70.00 in a research report on Monday. ValuEngine raised Citigroup from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods set a $75.00 price target on Citigroup and gave the company a “buy” rating in a research report on Sunday, August 13th. Finally, HSBC Holdings plc set a $74.00 price target on Citigroup and gave the company a “hold” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $68.99.
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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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