First Interstate Bank Sells 1,963 Shares of Citigroup Inc. (NYSE:C)

First Interstate Bank decreased its stake in shares of Citigroup Inc. (NYSE:C) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,916 shares of the company’s stock after selling 1,963 shares during the quarter. First Interstate Bank’s holdings in Citigroup were worth $2,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC purchased a new position in Citigroup during the 3rd quarter valued at about $25,000. SkyView Investment Advisors LLC purchased a new position in Citigroup during the 1st quarter valued at about $28,000. GHP Investment Advisors Inc. increased its position in Citigroup by 73.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 683 shares of the company’s stock valued at $28,000 after purchasing an additional 290 shares during the period. AlphaMark Advisors LLC increased its position in Citigroup by 75.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 700 shares of the company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in Citigroup during the 4th quarter valued at about $39,000. Institutional investors own 71.72% of the company’s stock.

Analyst Ratings Changes

C has been the topic of a number of analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of Citigroup in a research report on Monday, April 1st. Oppenheimer cut their price objective on shares of Citigroup from $88.00 to $87.00 and set an “outperform” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods lifted their price objective on shares of Citigroup from $54.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Morgan Stanley raised shares of Citigroup from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $46.00 to $65.00 in a research report on Tuesday, January 30th. Finally, Barclays boosted their target price on shares of Citigroup from $59.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.91.

Citigroup Price Performance

Shares of Citigroup stock traded down $1.58 during trading hours on Tuesday, reaching $56.98. 23,205,742 shares of the company’s stock were exchanged, compared to its average volume of 17,342,977. Citigroup Inc. has a 1 year low of $38.17 and a 1 year high of $63.90. The company has a market capitalization of $109.13 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The business has a fifty day moving average of $57.99 and a two-hundred day moving average of $50.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Citigroup (NYSE:C) last announced its quarterly earnings data on Friday, April 12th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.29. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm had revenue of $21.10 billion during the quarter, compared to analyst estimates of $20.46 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. Citigroup’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that Citigroup Inc. will post 5.73 earnings per share for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.72%. Citigroup’s payout ratio is currently 62.72%.

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.