VeraBank N.A. Invests $230,000 in Citigroup Inc. (NYSE:C)

VeraBank N.A. bought a new stake in Citigroup Inc. (NYSE:C) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,474 shares of the company’s stock, valued at approximately $230,000.

A number of other institutional investors have also added to or reduced their stakes in C. Massachusetts Wealth Management lifted its position in shares of Citigroup by 0.5% during the fourth quarter. Massachusetts Wealth Management now owns 39,782 shares of the company’s stock worth $2,046,000 after acquiring an additional 192 shares in the last quarter. Founders Capital Management boosted its stake in Citigroup by 12.5% in the 4th quarter. Founders Capital Management now owns 1,800 shares of the company’s stock worth $93,000 after purchasing an additional 200 shares during the period. Cowa LLC grew its holdings in Citigroup by 3.1% during the 4th quarter. Cowa LLC now owns 6,600 shares of the company’s stock valued at $340,000 after buying an additional 200 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in Citigroup by 0.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 24,630 shares of the company’s stock valued at $1,267,000 after buying an additional 200 shares in the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Citigroup by 5.6% during the fourth quarter. CENTRAL TRUST Co now owns 3,841 shares of the company’s stock valued at $198,000 after buying an additional 205 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.

Citigroup Stock Performance

C traded up $0.51 during trading on Friday, hitting $61.52. The company’s stock had a trading volume of 11,048,877 shares, compared to its average volume of 15,112,875. Citigroup Inc. has a one year low of $38.17 and a one year high of $63.90. The business’s 50 day simple moving average is $59.70 and its 200-day simple moving average is $52.62. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The firm has a market cap of $117.83 billion, a PE ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.49.

Citigroup (NYSE:C) last released its earnings results on Friday, April 12th. The company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.29. The company had revenue of $21.10 billion for the quarter, compared to analysts’ expectations of $20.46 billion. Citigroup had a net margin of 4.90% and a return on equity of 6.17%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 EPS. As a group, sell-side analysts predict that Citigroup Inc. will post 5.98 EPS for the current fiscal year.

Citigroup Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, May 6th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. Citigroup’s dividend payout ratio (DPR) is presently 62.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Oppenheimer cut their price target on shares of Citigroup from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Tuesday, April 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 research note on Friday, April 5th. Evercore ISI raised their price objective on Citigroup from $58.00 to $60.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. StockNews.com upgraded Citigroup from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Piper Sandler lifted their price target on shares of Citigroup from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.85.

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.