BMO Capital analyst James Fotheringham maintains Citigroup (NYSE:C) with a Market Perform and raises the price target from $65 to $67.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/4/2024 | $58.00 → $60.00 | In-line | Evercore ISI |
| 3/25/2024 | $70.00 → $80.00 | Overweight | Wells Fargo |
| 3/14/2024 | $68.00 | Neutral → Buy | Goldman |
| 2/14/2024 | $56.00 → $63.00 | Neutral → Overweight | Piper Sandler |
| 1/30/2024 | $46.00 → $65.00 | Underweight → Overweight | Morgan Stanley |
| 1/10/2024 | $57.00 | Outperform → Market Perform | BMO Capital Markets |
| 1/9/2024 | $42.00 → $61.00 | Hold → Buy | HSBC Securities |
| 1/8/2024 | Hold → Sell | Societe Generale |
Today, Citi (NYSE:C) and Bank of Shanghai launched a first-of-its-kind payments solution on Bank of Shanghai's TourCard. The TourCard aims to provide international travelers a straightforward, cost-efficient and more streamlined Chinese yuan renminbi (CNY) payment journey while traveling in China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241112572734/en/ The payment service is facilitated by Citi's industry-leading USD Clearing solution and its full-value transfers, which ensures the final beneficiary receives their money at full value with no deductions. The innovation helps enable travelers to add funds to their TourCard
Citigroup Inc. is announcing the redemption, in whole, constituting $1,000,000,000 of its 1.281% Fixed Rate / Floating Rate Notes due 2025 (the "notes") (ISIN: US172967ND99). The redemption date for the notes is November 3, 2024 (the "redemption date"). The cash redemption price for the notes payable on the redemption date will equal par plus accrued and unpaid interest, to but excluding, the redemption date and will be payable on November 4, 2024, the next succeeding business day after the redemption date. The redemption announced today is consistent with Citigroup's liability management strategy and reflects its ongoing efforts to enhance the efficiency of its funding and capital struct
Solution Will Help Accelerate Monetization of Receivables from Weeks to Under an Hour Citi has launched Citi Digital Bill (CDB), a new integrated digital bill discounting solution, making centuries old practices future ready. CDB significantly reduces complexity by eliminating the need for physical documents and couriers and the movement of paper across multiple parties in different geographies. For sellers, CDB provides a faster, more transparent way to manage receivables, reducing the time for monetizing receivables from a week to less than an hour. "The launch of Citi Digital Bill is a significant advancement in trade finance, marking a groundbreaking shift away from longstanding paper
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The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup's common stock of $0.56 per share, payable on November 22, 2024, to stockholders of record on November 4, 2024. The Board of Directors of Citigroup Inc. also declared dividends on Citigroup's preferred stock as follows: – 5.950% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series P, payable November 15, 2024, to holders of record on November 5, 2024. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $29.75 for each receipt held. – 4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W, payable December 10, 2024, to holders
Today Citi reported third quarter 2024 results, which can be found on its website at https://www.citigroup.com/global/investors. A Quarterly Financial Data Supplement with additional financial, statistical and business-related information, as well as business and segment trends, is also available. Citi will host a conference call today at 11 a.m. (ET) to review these results. To attend the live webcast, please visit https://www.veracast.com/webcasts/citigroup/webinars/Citi3Q24.cfm. A replay and transcript of the webcast will be available shortly after the event. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management
Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Series U Depositary Shares representing interests in its 5.000% Fixed Rate / Floating Rate Noncumulative Preferred Stock, Series U (the "Preferred Stock"). The redemption date is September 12, 2024 for the Preferred Stock and related Depositary Shares (the "Redemption Date"). The cash redemption price, payable on the Redemption Date for each Depositary Share, will equal $1,000. Holders of record on August 30, 2024, will receive the previously declared regular semi-annual dividend of $25.00 per Depositary Share payable on the Redemption Date. The redemption announced today is consistent with Citig
Mubadala and Athene to Participate as Apollo Strategic Partner and Affiliate, Respectively Citi & Apollo Private Credit, Direct Lending Program Marks Largest Relationship of its Kind Citigroup Inc. (NYSE:C) and Apollo (NYSE:APO) today announced that they have entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies. The program will include participation from Mubadala Investment Company as Apollo's strategic partner as well as Apollo's subsidiary, Athene, both of which will have the opportunity to join
EV Infrastructure Disruptor to Join Premier Gathering of World Leaders During the UN General Assembly Week in New York City EVPassport, a global EV charging network, today announced that CEO Hooman Shahidi will speak at the 2024 Concordia Annual Summit, a premier gathering of public and private sector visionaries during the UN General Assembly week, happening September 23-25, in New York City. Shahidi, a longtime proponent of using technology to drive good, will be joined on stage by other public and private sector visionaries to discuss advancing environmental sustainability through technological innovation that drives both business and consumer benefits. This press release features multi
Former Citigroup executive brings nearly 30 years of alternative asset experience to the private market platform. Yieldstreet, the leading private market investing platform, today announced the appointment of Ted Yarbrough as its Chief Investment Officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230510005310/en/Photo of Ted Yarbrough, Yieldstreet Chief Investment Officer (Photo: Business Wire) Yarbrough brings to Yieldstreet nearly three decades of experience at Citigroup ((C) and its predecessor companies, holding a variety of leadership roles across the firm's banking, markets, and lending businesses. During his tenure
Evercore ISI reiterated coverage of Citigroup with a rating of In-line and set a new price target of $60.00 from $58.00 previously
Wells Fargo reiterated coverage of Citigroup with a rating of Overweight and set a new price target of $80.00 from $70.00 previously
Goldman upgraded Citigroup from Neutral to Buy and set a new price target of $68.00
Delta Air Lines Inc (NYSE:DAL) is about to face significant financial repercussions this quarter due to a recent system failure that resulted in thousands of flight cancellations and triggered a federal investigation into the airline’s response. Citigroup Inc (NYSE:C) reduced its estimates for Delta's third-quarter adjusted earnings by 60 cents per share to $1.37, citing increased operational expenses and potential customer compensation costs, reported Bloomberg. Analyst Stephen Trent also cut two profit metrics by approximately $500 million each. The financial setback adds to Delta’s woes as flight disruptions start to subside. Delta CEO Ed Bastian stated on Wednesday cancellations
Whales with a lot of money to spend have taken a noticeably bullish stance on Citigroup. Looking at options history for Citigroup (NYSE:C) we detected 15 trades. If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish. From the overall spotted trades, 7 are puts, for a total amount of $1,026,718 and 8, calls, for a total amount of $1,799,454. Predicted Price Range After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $72.5 for Citigroup, spanning the last three months. Volume & Open Interest Development L
Citigroup Inc. (NYSE:C) shares are trading higher today. The bank reportedly agreed with the Bourse de Montreal to settle claims of failing to report large options contract positions. The exchange noted that Citigroup lacked a system to ensure employee compliance with reporting rules, reported Reuters. As part of the settlement, Citi will pay a $138,000 fine and $10,600 in related costs. Last week, the U.S. bank regulator Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) have fined Citigroup $135.6 million for failing to comply with a 2020 enforcement action. The fine includes the $60.6 million fine from the Federal Reserve and additional penalties imp