Citigroup Inc. (NYSE: C) is closing out 2025 on a strong note. As of mid‑day trading on December 8, 2025, Citigroup stock changes hands around $109 per share, within a whisker of its 52‑week high of $110.25 and up more than 50% year‑to‑date, handily outperforming large‑cap U.S. bank peers. [1]
The rally comes as the bank posts solid earnings beats, ramps up buybacks and dividends after passing the Federal Reserve’s 2025 stress test, pushes through a sweeping restructuring, and attracts fresh interest from large institutional investors.
Below is a detailed, Google‑News‑ready overview of Citigroup stock today, including latest news from December 8, 2025, recent corporate developments, earnings and valuation metrics, plus the current analyst and fundamental outlook for C stock in 2025–2026.
Citigroup Stock Price Today: C Nears Its Highs
- Latest price (Dec 8, 2025): about $109 per share. [2]
- 52‑week range:$55.51 – $110.25, meaning the stock has roughly doubled from its 52‑week low. [3]
- Valuation snapshot: Citigroup’s trailing P/E is ~15.1x, based on a TTM EPS of $7.23 and a share price of $108.88 as of December 5. That’s about 50% above its 10‑year average P/E of 10.0, and modestly above the broader financials sector average of 13.6x. [4]
Citigroup now trades in line with or slightly richer than many diversified U.S. banks on earnings, but still at a discount to some high‑quality peers such as JPMorgan and Morgan Stanley, whose P/E multiples sit above Citi’s 15x level. [5]
Fresh Headlines on December 8, 2025: What’s New Around C Stock?
1. Fund Managers Debate Citi’s 2025 Surge
A widely circulated fund letter from FPA Source Capital, highlighted by InsiderMonkey on December 8, dissects what drove Citigroup’s strong share performance over the last year. The letter credits: [6]
- A multi‑year transformation under CEO Jane Fraser, including asset sales and simplification.
- Improving returns on tangible equity (RoTCE) as the bank shifts toward more capital‑light fee businesses.
- A healthier U.S. regulatory backdrop for big banks and derisking of Citi’s balance sheet.
- The combination of strong earnings momentum and previously low valuation, which amplified 2025’s price move.
Broadly, FPA frames Citigroup as a bank that is finally getting equity‑market credit for years of clean‑up and restructuring.
2. New Fundamental Valuation Work: Undervalued or Fairly Priced?
A new December 2025 valuation piece from Simply Wall St asks whether the 2025 rally has left C shares “too pricey” after restructuring momentum. Their model finds: [7]
- Current multiple: about 14–15x earnings.
- “Fair Ratio” estimate:16.79x, implying the stock still trades below what they view as a justified P/E, so their quantitative framework flags Citi as “UNDERVALUED.”
- Bull case narrative: A scenario with mid‑ to high‑single‑digit revenue growth, sustained margin expansion, and continued buybacks yields a long‑term fair value near $233 per share, more than 50% above the current price.
- Bear case narrative: Even assuming optimistic analyst growth forecasts, a more conservative multiple leads to fair value around $103, implying a few percent downside from today’s levels.
In short, Simply Wall St’s range of fair values is very wide ($77–$230+), underscoring how much the C stock outlook depends on your view of earnings durability, regulation, and the success of Citi’s digital and tokenization initiatives such as Citi Token Services. [8]
3. Big Institutional Investors Rotate Into (and Out Of) C
Filings and commentary summarized by MarketBeat and other services today show notable institutional flows around Citigroup stock: [9]
- Natixis S.A. significantly boosted its stake in Citigroup during the second quarter of 2025, purchasing over 1.2 million shares and making C one of its larger U.S. bank positions. [10]
- Cerity Partners LLC, a large U.S. wealth and asset manager, also grew its Citigroup holdings in Q2, adding hundreds of thousands of shares. [11]
- Other managers such as Gabelli Funds LLC have used the 2025 rally to trim positions, locking in gains but generally maintaining material exposure to C.
That mix of net new institutional buyers alongside profit‑taking is typical for a stock that has already re‑rated but still offers income, scale and restructuring optionality.
4. Capital Structure Move: Redemption of Series W Preferred
On December 3, 2025, Citigroup announced that it will fully redeem its $1.5 billion Series W preferred stock (4.000% Fixed Rate Reset Noncumulative Preferred, Series W) on December 10, 2025. [12]
Key points:
- The redemption covers all outstanding depositary shares representing 1/1,000th of a share of Series W.
- Holders will receive $25 per depositary share plus any declared and unpaid dividends as of the redemption date.
- Citi frames this as part of its ongoing liability and capital management strategy, effectively retiring a relatively low‑coupon but still non‑common layer of capital.
While modest in scale relative to Citi’s $190+ billion market cap, the move simplifies the capital stack and slightly shifts value toward common shareholders, fitting with the broader 2025 theme of capital returns. [13]
5. Operational and Legal Side Note: Lead Shipment Costs in Singapore
Reuters recently reported that Citigroup faces roughly a $5 million bill linked to the movement of about 9,000 tonnes of lead in Singapore, after a financing arrangement left the bank with title to the metal. [14]
For a bank of Citi’s size, the financial impact is immaterial, but the episode highlights:
- Citi’s role in commodities financing and trade services, and
- The operational and reputational risks around collateral management and physical logistics.
For investors, it’s more of a risk‑management footnote than a thesis‑changing event.
6. Talent and Leadership Moves: MD Promotions, Prime Brokerage Push, Vietnam Leadership
Several people‑focused announcements also hit in recent days:
- Citi promoted 276 employees to Managing Director in 2025, its smallest MD class since 2020, as the bank balances cost discipline with talent retention. The promotions span 21 countries; nearly half are in North America. Reuters notes this comes as markets revenue jumped 15% to $5.6 billion in Q3 2025, underpinning the firm’s trading strength. [15]
- Citi hired Jillian Snyder, a former Bank of America executive, as Head of Capital Introductions for North America, bolstering its prime brokerage franchise and hedge‑fund relationships—an area CEO Jane Fraser has flagged as strategically important. [16]
- In Asia, Citigroup appointed Minh Ngo as Citi Country Officer and Banking Head for Vietnam, the first Vietnamese national to hold the role since Citi began operating there more than 30 years ago. The appointment underscores Citi’s long‑term commitment to fast‑growing emerging markets and to serving multinational and local corporates in Vietnam. [17]
- Separately, fintech firm Capitolis named former Citi Global Head of Securities Services Okan Pekin as its President, highlighting Citigroup’s influence in market infrastructure and the migration of senior Citi talent into the broader financial ecosystem. [18]
These moves collectively reinforce Citi’s focus on capital‑light, fee‑based businesses such as markets, prime brokerage, and transaction services, while deepening its footprint in key growth regions.
Restructuring and Job Cuts: Citi’s “Simplification” Continues
Citigroup is in the middle of one of the most ambitious restructuring programs among global banks:
- The bank has previously signaled up to 20,000 job cuts globally by 2026 as it flattens management layers, exits non‑core consumer markets, and focuses on its five “interconnected” businesses. [19]
- In 2025, Citi realigned its technology workforce in China, including cutting up to 200 IT contractor roles in Shanghai and other hubs, as it responds to longstanding U.S. regulatory concerns about data and risk management. [20]
- The bank has completed or advanced exits from several international consumer operations, including retail banking in the UK, its onshore consumer wealth portfolio in China, and a separation of consumer and SME banking in Mexico (Banamex), while preparing for a Banamex IPO. [21]
Management argues these actions will deliver $2–2.5 billion in annual run‑rate savings by 2026, though investors remain focused on execution risk and potential near‑term expense spikes.
CFO Transition and U.S. Personal Banking Reorganization
On November 20, 2025, Citi announced a major leadership reshuffle: [22]
- Longtime CFO Mark Mason will step down as CFO in March 2026, becoming Executive Vice Chair and Senior Executive Advisor to CEO Jane Fraser.
- Gonzalo Luchetti, currently Head of U.S. Personal Banking, will become CFO after a transition period.
- Retail Banking and U.S. Citigold will be integrated into the Wealth business, creating a more unified affluent‑client platform under Andy Sieg.
- U.S. Consumer Cards (Branded Cards + Retail Services) will become a stand‑alone business led by Pam Habner, reporting directly to Fraser.
The move is designed to:
- Put Citi’s “next generation” of leaders in place ahead of its 2026 Investor Day.
- Align structure with strategy by linking deposits and wealth more closely, while elevating U.S. cards as a profit engine. [23]
For shareholders, the key questions are whether the new CFO and business heads can sustain double‑digit RoTCE and translate structural changes into durable earnings growth.
Earnings Momentum: Strong Q3 2025 Beat
Citigroup’s third‑quarter 2025 results, released on October 14, 2025, underpin much of this year’s rally: [24]
- Revenue:$22.1 billion, up ~9% year‑on‑year, with growth across all five core businesses plus Legacy Franchises.
- Net income: about $3.8 billion, up 16% YoY, even after a notable goodwill impairment tied to the planned sale of a 25% stake in Grupo Financiero Banamex. [25]
- EPS: Adjusted EPS of $2.24 was roughly 28% above consensus estimates (~$1.75). [26]
- Markets revenue: climbed 15% to $5.6 billion on strong fixed‑income and equities trading. [27]
- Net interest income: increased by roughly 12% YoY to nearly $15 billion, helped by higher deposit balances and spreads. [28]
These results pushed Citigroup’s return on tangible common equity (RoTCE) into the high‑single digits in Q3, with certain units like U.S. Personal Banking delivering mid‑teens RoTCE. [29]
The next major catalyst will be Q4 2025 earnings, scheduled for January 14, 2026, when investors will see whether Citi can sustain that momentum into year‑end. [30]
Capital Strength, Stress Test and Shareholder Returns
Citigroup emerged comfortably from the Federal Reserve’s 2025 supervisory stress test, clearing the way for higher capital returns: [31]
- The Fed’s severely adverse scenario modeled a deep recession with 10% unemployment, a 33% fall in home prices and a 50% equity market decline. Citi’s projected CET1 capital ratio bottomed at 10.4%, well above the 4.5% minimum. [32]
- Citi’s indicative Stress Capital Buffer (SCB) was cut from 4.1% to 3.6%, bringing its overall standardized CET1 requirement down to 11.6% from 12.1%. [33]
- As of March 31, 2025, Citi’s standardized CET1 ratio stood at 13.4%, about 130 basis points above its previous regulatory minimum and including a 100 bp internal management buffer. [34]
On the back of those results, Citi:
- Raised its quarterly common dividend from $0.56 to $0.60 per share starting in Q3 2025.
- Continued executing a $20 billion multi‑year share repurchase program, of which $3.75 billion had been completed by mid‑year 2025. [35]
At today’s share price near $109, the new dividend implies an annualized yield of roughly 2.2% (four quarterly payments of $0.60, or $2.40 per share, divided by ~$109).
Separately, Citi has started factoring an average of two years of SCB results into its capital target, which a Risk.net analysis estimates effectively lifts its internal CET1 goal to 12.8%, adding about $2.4 billion of capital to meet the proposed rule. [36]
Valuation: P/E, Fair Value Estimates and Historical Context
From a valuation perspective, Citigroup is no longer the deep‑value play it was at the start of 2025, but views differ on whether it is fully valued or still attractive:
- Current P/E: About 15x trailing earnings, versus a 10‑year average of ~10x and a 3‑year average of ~11.8x. [37]
- Peer comparison: Fullratio calculates that Citi’s P/E is:
- Above the Financial Services sector average (13.64x),
- Roughly in line with a peer‑group average of ~14.9x,
- Below some mega‑banks like JPMorgan and Morgan Stanley. [38]
Fair value estimates:
- Morningstar recently raised its fair value estimate for Citigroup to about $90 per share from $82, maintaining a “narrow moat” rating but seeing the stock as roughly fairly valued to slightly expensive at current prices (Morningstar assigns a 3‑star rating when price is near fair value). [39]
- Simply Wall St, using its “Fair Ratio,” deems the stock undervalued, as noted earlier, with a P/E it believes can reasonably expand from ~14–15x to ~17x over time if Citi hits growth and margin targets. [40]
Overall, the market has moved Citigroup from “cheap and troubled” toward “quality and fairly priced”, but there is no consensus on whether the upside from here is limited or still substantial.
Analyst Ratings and 2025–2026 Forecasts for C Stock
Wall Street Rating and Price Targets
MarketBeat’s latest compilation of Wall Street research (as of December 8, 2025) shows: [41]
- Consensus rating:“Moderate Buy” based on 18 analysts.
- 11 Buy ratings
- 7 Hold ratings
- 0 Sell ratings
- Average 12‑month price target:$108.70, essentially flat versus the current price (~$109).
- Target range:$75.50 (low) to $134 (high), again illustrating the wide spread of opinions.
Recent actions include:
- Oppenheimer trimming its target from $123 to $120 but maintaining a Buy rating.
- Bank of America Securities reaffirming a Strong Buy, with a $120 target.
- Barclays lifting its target to $115 with a Buy rating.
- TD Cowen at $110 with a Hold stance. [42]
In other words, most analysts are positive but see more modest upside from here, after the large rerating in 2025.
Consensus Fundamental Forecasts
According to data compiled by StockAnalysis from Wall Street estimates: [43]
- Revenue 2025: about $87.9 billion, up ~23% from 2024 (helped by rate tailwinds, growth in services and markets, and the absence of some one‑offs).
- Revenue 2026: projected to reach $90.6 billion, up ~3% year‑on‑year.
- EPS 2025: around $7.75, up ~30% from 2024.
- EPS 2026: about $10.18, another ~31% gain, reflecting operating leverage, lower transformation costs, and continued buybacks.
If Citi achieves those numbers and the P/E multiple simply holds near 14–15x, implied share values cluster roughly in the $110–$150 zone. A re‑rating back toward its long‑term average (around 10x) would push fair value far lower; a move toward a “best in class” multiple (17–18x) would imply significantly more upside.
Bull vs. Bear Case for Citigroup Stock
Bull Case: Why Some See C as Still Attractive
Supportive arguments from recent analyses and fund letters include: [44]
- Transformation is working: Asset sales, exit from low‑return retail markets, and simplification of the org chart are beginning to show up in higher RoTCE and earnings beats.
- Strong capital and stress‑test resilience support generous dividends and buybacks without compromising regulatory buffers.
- Citi’s global transaction services, markets and prime brokerage franchises are capital‑light, enjoy structural growth (cross‑border flows, FX, securities services), and benefit from the bank’s unique network.
- New digital initiatives such as Citi Token Services could make Citi a leader in regulated digital assets and tokenized payments, adding a long‑term growth layer beyond traditional lending. [45]
- Even after the rally, Citi still trades at a discount to some mega‑bank peers on price‑to‑book and price‑to‑earnings metrics, especially if it sustains a high‑teens RoTCE over the medium term.
Bear Case: Why Others Are More Cautious
More cautious commentary, including the “bear narrative” on Simply Wall St and Morningstar’s fair value work, emphasize: [46]
- Valuation no longer obviously cheap: A P/E 50% above the 10‑year average leaves less margin of safety if earnings disappoint.
- Execution risk in the restructuring: large job cuts, IT overhauls in places like China, and the integration of retail banking into wealth all carry operational and cultural risks. [47]
- Regulatory overhang: Citi is still operating under significant regulatory scrutiny around risk and data management; new rules (e.g., SCB averaging) may raise effective capital targets, limiting capital return flexibility.
- Global macro and credit risk: With exposures to emerging markets and corporate credit, a sharper‑than‑expected downturn or geopolitical shock could hit earnings and loan quality.
- Competition in premium cards and wealth: U.S. consumer and wealth banking are fiercely competitive, and peers have not been standing still.
Given these cross‑currents, it’s unsurprising that analyst targets cluster only slightly above the current share price, even though some models see much higher long‑term potential.
Key Catalysts to Watch for C Stock
For investors following Citigroup into 2026, some of the most important upcoming catalysts are:
- Q4 2025 earnings (Jan 14, 2026): Can Citi extend Q3’s revenue and EPS beats, and provide upbeat 2026 guidance? [48]
- Investor Day 2026: Management has flagged 2026 as the year they plan to lay out detailed return and growth targets; the market will watch closely to see if Citi can commit to sustained double‑digit RoTCE. [49]
- Completion of restructuring and Banamex IPO: Progress on legacy exits and cost savings will influence whether earnings follow the bullish EPS trajectory analysts currently forecast. [50]
- Regulatory developments: Final SCB levels, capital framework changes, and any updates on Citi’s resolution plan and remediation efforts will shape how much capital the bank can deploy to shareholders.
Bottom Line
As of December 8, 2025, Citigroup stock (C) sits near its 52‑week high after a year of strong price performance, robust Q3 results, rising dividends and buybacks, and accelerating progress on a multi‑year restructuring.
- Most analysts rate C as a “Moderate Buy,” but with average price targets clustered around today’s level, suggesting that the easy value trade may be behind it. [51]
- Bullish views see further upside if Citi can deliver on double‑digit EPS growth into 2026, unlock more value from its global network and digital initiatives, and maintain a premium P/E.
- Bearish or cautious perspectives argue that a higher multiple, regulatory complexity and restructuring risk make C more of a “show‑me” story at current prices.
For individual investors, whether Citigroup stock is a buy, hold or sell now ultimately depends on risk tolerance, time horizon and conviction in management’s ability to execute.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any security. Always do your own research or consult a licensed financial advisor before making investment decisions.
References
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