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Citigroup Stock Price Chart, History and Forecast

December 02, 2021 14:17

Citigroup Inc, is an investment banking firm headquartered in New York. The company delivers a broad spectrum of financial services and solutions, and its stock is exchanged on the NYSE. This article will focus on the Citigroup stock price, from its history to its forecast. By the end, you should be able to make a well-informed decision on whether or not Citigroup stock is a buy.

Citigroup Stock Price Chart Today

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Citigroup Stock Overview

Citigroup stock today is traded in the New York Stock Exchange, under the ticker symbol “C.” It was originally traded under the symbol CCI, up until the merger between the Citicorp and Travelers Group, which created Citigroup as we know it today.

C shares are also traded on the Mexican Stock Exchange, known as the Bolsa Mexicana de Valores – BMV. On that exchange, the Citigroup symbol is “C*.” Note that Citigroup stocks Series AA, C, J, K, L and S are also listed on the New York Stock Exchange.

Citigroup Stock Price History  

Its undeniable that the financial industry has been under lots of pressure recently. As such, to better predict where Citigroup stock could be headed, we’ll need to dig out the company’s huge history book and look at how the company reacted in similar situations.

Citigroup Stock Price Historical Trends 

Citigroup history goes back more than two centuries, to the founding of the City Bank of New York in 1812. The bank played a key role in funding the growth engines of American industries, from the steel and iron industries in the 19th century to the transportation industry in the 20th century.

Citigroup stock price until 2010

The Citigroup stock price has fluctuated a lot since entering the New York Stock Exchange. For example, in 1999, Citigroup Inc stock price dipping from a $364 high to a $185 low in less than two months following a merger-related issue. Then, on August 28, 2000, the stock price of Citigroup hit an all-time high of $588 after the firm announced it would acquire Associates First Capital Corporation for $31.1 billion in stock.

In 2001, Citigroup made additional acquisitions, including Banamex for $12.5 billion and European American Bank for $1.9 billion. However, 2001 wasn’t a great period for the Citigroup stock price chart. The dot-com bubble had just burst, and the U.S. Securities and Exchange Commission had heavily fined major investment banks like Citigroup for misleading investors. The stock price Citigroup bottomed out at $261 in September 2002.

Shortly before the 2008 recession, Citigroup stock price hit a new $570 high, but then everything came down crashing, marking one of the darkest periods in Citigroup stock price history. All major US banks took a massive hit during the subprime mortgage crisis, but none of the surviving banks were hit worse than Citigroup. By early 2009, Citigroup’s stock price had dropped to as low as 97 cents, as investors feared for the firm’s survival. This forced the U.S. Treasury to take a 36% ownership stake in Citigroup and try bailing out the bank.

Citigroup stock price since 2010

Fortunately, Citigroup stock price started to increase again in 2010, at a per-share price of $3.4. In the same year, Citigroup reported its first annual profit since 2007, and the government sold its marginal stake in the company for a $12 billion profit.

 In March 2011, a 1 for 10 reverse stock split boosted the Citigroup stock price back above the psychological $40 mark, but the unfolding 2011 Eurozone debt crisis pulled the stock price back to as low as $21.40. The Citigroup closing stock price finally got back in track in mid-2012 and has been slowly marching toward its pre-2007 crisis highs ever since.  

Citigroup Stock Price Splits 

Citigroup had 9 stock price splits in its history. The first split took place on March 13, 1987, and was a 2 for 1 split, implying that for each share of Citigroup stock owned pre-split, the shareholder now owned 2 shares. For example, a 1000 share position pre-split became a 2000 share position following the first split.   

The second Citigroup stock price split took place on March 1, 1993, and was a 3 for 2 split, implying that for every 2 shares of Citigroup stock owned pre-split, the shareholder now owned 3.  

Here are the 8 more stock splits Citigroup executed.  

  • August 30, 1993: 4 for 3 split 
  • May 28, 1996: 3 for 2 split 
  • November 25, 1996: 4 for 3 split 
  • November 20, 1997: 3 for 2 split
  • June 1, 1999: 3 for 2 split 
  • August 28, 2000: 4 for 3 split 
  • May 9, 2011: 1 for 10 reverse split  

Citigroup executed its many stock split in order to break up its shares into multiple, lower-value shares. Every stock split reduced the trading price of Citigroup stock, making the firm’s shares more liquid and more affordable 

Note, though, that while the number of shares outstanding increased after each stock split, the value of the company or market capitalization as a whole didn’t change. This means that while shareholders got more shares at lower prices each, their net investment value stayed the same.  

Citigroup Stock Price Prediction 

If you’ve been following my guides for a while, then you know I usually split this section of the guide into three different parts to make it as easy to follow as possible. Citigroup’s guide won’t be any different. 

Analyst consensus: Buy, hold, or sell?

According to TipRanks, 6 Wall Street analysts giving stock ratings to Citigroup voted the company’s stock a strong buy. Out of all six, five of them vote it a buy, one of them votes it a hold, and none of them votes it a sell. 

Price targets 

Citigroup stock has been finding support from accumulated volume at $68.78, and this level could hold a buying opportunity as an upward reaction is expected after the support has been tested.  

Predictions 1, 2, 5, 10 years 

According to A.I. Pickup, 6 Wall Street analysts offered Citigroup stock forecasts for the end of 2021 have the average price target at $68.27, with a high forecast of $69.05 and a low forecast of $67.49. For 2022, 2025, and 2030, the same analysts offered average stock forecasts of $66.05, $191.35, and $234, respectively. 

Where Can I Buy C Stock Today?  

Do you like everything you’ve learned about Citigroup so far and would like to add the American multinational investment bank and financial services corporation to your portfolio? You’ll need to start by finding a reliable investment platform, such as ZFX.  

ZFX offers a wide selection of financial assets, competitive commissions, and a top-notch trading platform and research tools. It is also highly regulated and comes with a free demo account. The next section of this guide to a step-by-step guide on how to register with ZFX and invest in Citigroup stock. 

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Investing in Citigroup Stock: Tutorial 

Before looking at the registration guide, note that you’ll carry out all trades on ZFX using the MT4 platform. MT4 is considered the most popular retail trading platform in use today. Let’s take a look at the step-by-step guide.

Step 1: Register with ZFX 

First, visit the ZFX homepage, then find and click the “Open an Account” option. That should take you to the registration form below.

Trade Citigroup stock price- Step 1

Here, you’re required to fill out your personal information and come up with a strong password. Once you’ve filled out all space, hit the “Next” button.

Trade with ZFX - basic info Citigroup stock price

On the page that appears, pick your preferred account type, and tick the boxes on the screen if you agree with ZFX’s privacy policy and terms of agreement. When done, hit the “Sign up Now” button. ZFX will then provide you with a link to download MT4, as well as your MT4 username and password. You will need to take note of these in order to trade C stocks in the last step.

MT4 Login to trade Citigroup C stock price

Step 2: Make Your First Deposit 

You’re now free to fund your account with the amount you’d like to invest in Citigroup stock.  Simply select the amount you want to deposit and your preferred payment method, then click “Deposit”.

trade citigroup stock price with ZFX - Step 3

Step 3: Account Verification

Before you can withdraw any funds from your ZFX account, the company requires you to verify your identity and address. Worry not, though, as completing this process will take less than 24 hours. All you’ll need to do is upload your proof of your identity and address, then let ZFX do the rest.

trade citigroup stock price with ZFX - Step 4

Step 4: Invest in Citigroup Stock at Current Price 

 When you’ve completed all steps above, download the MT4 software, then install it on your device. Once installed, use the details ZFX sent to your email address to sign in to the MT4 platform and start investing in the Citigroup stock at its current price.

To Buy or Not to Buy Citigroup Stocks? 

Here are four reasons you should buy Citigroup right away.

  • New CEO, New Strategy 

Citigroup has been undergoing a new strategic rejuvenation under CEO Jane Fraser, who took over as the 1st woman to lead a major Wall Street bank in February 2020. Fraser plans to emphasize on simplifying Citigroup’s business by exiting unprofitable business lines and focusing on profitable ones, like wealth management in Asia and the U.S.

It would be an understatement to say shareholders love Citigroup’s plan to cut the fat and put more of its energy into profitable spaces. Citigroup has already started exiting lines of business with poor economics, most notably their consumer banking operations in 13 different markets. At the same time, the company is fortifying its core businesses by investing in new commercial banking and wealth management opportunities.

  • Impressive Earnings Results 

Citigroup reported results ahead of estimates in the Q3 of 2021, driven by strong growth from its corporate lending and investment banking divisions. Indeed, EPS (earnings per share) was up to $2.15 in 2021, a 58% jump compared to 2020. These results were significantly higher than the $1.73 EPS and $17.01 billion in revenue Wall Street predicted.

To top off the performance, the bank also reported a 17% jump in corporate lending, while its investment banking unit reported the strongest revenue growth of 39%. The 40% jump in equities countered the 16% decline in income from fixed-income markets.

  • A Great Track Record 

When you take risk on a stock, your hope is you’ll get an appropriately reward. Well, after downloading Citigroup’s trading history back to the 70s, one of the first things you’ll notice is that the firm has generated an average annual compound rate of return of 8%.

Add the current and elevated dividend yield of 6.4%, and you get a total return of 14.4%. That is a solid return, especially when you consider the fact that S&P has posted a roughly 12.5 annualized return over the same period, according to IFA.com.

Things to Know About the Citigroup Stock Price Before You Invest 

1. Take Two Different Companies Into Account 

Citigroup was one of the companies that found themselves on the wrong side of history during the 2008 financial crisis. The bank lost upwards of $18.7 billion during the crisis, thanks to its decision to strengthen its commitment to subprime mortgages on the eve of the mortgage crisis.

So, after going back to the drawing board to find ways to help them slow the losses, the company decided to split its operations into two different subsidiaries, namely Citi Holdings and Citicorp. To become a profitable Citigroup stock investor, you’ll need to keep track of these two subsidiaries.

Citi Holdings handles special asset portfolios, consumer finance, and asset management. Meanwhile, Citicorp is responsible for Citigroup’s “core” operations. It is split into three more divisions, namely corporate, institutional clients group, and global consumer banking

2. Follow News and Events related to Citigroup Stock 

Whether you’re counting on becoming a long-term or short-term Citigroup stock investor, you’ll need to keep track of all news and events that can wildly affect the banking industry. These include regulatory compliance changes, cultural shifts, security breaches, changing business models, increasing competition, and capital adequacy.

3. Understand the company 

Before you invest in Citigroup at the current stock price, ensure you understand the ins and outs of the firm. If you plan to hold on to the stock for a while, learn as much as you can about the company. Things you should have in mind include Citigroup’s stability, earnings growth, relative strength in the industry, debt to equity ratio, dividends, management, and price to earnings ratio.

4. Follow the decisions taken by the Citigroup CEO 

Most firms see shifts in their stock market value after their leadership changes, and it can be pretty hard to anticipate how this might affect the company in the long term. As explained earlier, Jane Fraser became CEO of Citigroup in February 2021 after replacing Michel L. Corbat.

As the first lady to lead a top U.S. bank, Fraser is betting on the wealth business, cutting back global branches, as well as going slow on the return to offices. To ensure you make a sound investment decision, monitor how shareholders and the industry, in general, react to her “relaxed approach”.

Bottom Line: What Can We Expect from the Citigroup Stock Price?

Citigroup stock strikes a fair amount of traders as a low-risk opportunity with promising upside potential. If you’re confident the rest of your investment portfolio is sufficiently diversified, then Citigroup stock is the exact kind of position you should look forward to adding to the portfolio.

Do you want to invest in Citigroup stock price today? If so, you can do so in just a few easy steps with ZFX. Indeed, as explained in this guide, ZFX offers a lot of benefits to its clients, and allow you to trade C stocks in the best conditions.

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