Fannie Mae, Freddie Mac shares tumble after conservatorship comments
Citigroup (NYSE:C) stock reached a new 52-week high, hitting $94.08, marking a significant milestone for the financial giant. With a market capitalization of $173 billion and a P/E ratio of 13.61, the bank continues to demonstrate strong fundamentals. InvestingPro analysis shows the stock has maintained dividend payments for 15 consecutive years, currently offering a 2.59% yield. This achievement highlights a strong performance over the past year, as the stock has experienced a notable 45.31% increase. The climb to this 52-week high underscores investor confidence and reflects positive market sentiment towards Citigroup’s financial health and strategic initiatives. According to InvestingPro data, the stock appears undervalued based on its Fair Value analysis, with year-to-date returns of 33.6%. As the stock continues to gain momentum, market analysts are closely monitoring its trajectory and the factors contributing to its sustained growth. Discover 12 additional exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, Citigroup has reported strong second-quarter earnings, with earnings per share (EPS) reaching $1.96. This figure significantly surpassed both Oppenheimer’s estimate of $1.60 and the consensus forecast of $1.61. The bank achieved these results despite facing $177 million in adverse divestiture revenue impacts and additional costs. Following this earnings report, Oppenheimer raised its price target for Citigroup to $123, maintaining an Outperform rating. Piper Sandler also adjusted its price target to $104, citing an improved earnings outlook and maintaining an Overweight rating. Truist Securities increased its price target to $99, reflecting revised EPS estimates for 2025, now projected at $7.55. Additionally, Citigroup has appointed David Friedland, a veteran from Goldman Sachs, as co-head of its investment-banking coverage in North America. Friedland will collaborate with Jens Welter to drive growth in the US market.
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