Commerce Bank Purchases 124,138 Shares of Citigroup Inc. (NYSE:C)

Commerce Bank raised its holdings in shares of Citigroup Inc. (NYSE:C) by 149.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 207,288 shares of the company’s stock after buying an additional 124,138 shares during the period. Commerce Bank’s holdings in Citigroup were worth $10,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in C. Prospector Partners LLC boosted its position in Citigroup by 31.0% during the fourth quarter. Prospector Partners LLC now owns 257,385 shares of the company’s stock valued at $13,240,000 after purchasing an additional 60,975 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Citigroup by 0.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 153,782 shares of the company’s stock worth $7,911,000 after purchasing an additional 454 shares in the last quarter. Allstate Corp boosted its holdings in shares of Citigroup by 12.6% in the 4th quarter. Allstate Corp now owns 6,275 shares of the company’s stock valued at $323,000 after buying an additional 700 shares during the last quarter. Balboa Wealth Partners bought a new position in shares of Citigroup in the fourth quarter valued at $482,000. Finally, WBI Investments LLC increased its holdings in Citigroup by 420.3% during the fourth quarter. WBI Investments LLC now owns 46,503 shares of the company’s stock worth $2,392,000 after buying an additional 37,566 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of NYSE:C traded up $0.56 on Friday, reaching $63.58. 9,424,967 shares of the company’s stock were exchanged, compared to its average volume of 10,878,002. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50. Citigroup Inc. has a twelve month low of $38.17 and a twelve month high of $64.98. The company has a fifty day moving average of $61.76 and a 200-day moving average of $55.07. The company has a market capitalization of $121.28 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 0.94 and a beta of 1.49.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analyst estimates of $20.46 billion. Citigroup had a return on equity of 6.17% and a net margin of 4.90%. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.86 EPS. On average, research analysts predict that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Monday, May 6th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent analyst reports. Morgan Stanley upgraded shares of Citigroup from an “underweight” rating to an “overweight” rating and increased their price target for the company from $46.00 to $65.00 in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods lifted their price target on Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Citigroup in a research note on Monday, April 1st. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $80.00 target price on shares of Citigroup in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.66.

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.