NEW YORK — Citigroup, Inc. (NYSE: C) is closing out 2025 with a resurgence that has put C stock back on many investors’ watchlists. In the holiday-shortened session on Wednesday, Dec. 24, 2025, Wall Street traded close to record territory amid thin volumes, while bank shares remained in focus after a string of December headlines around regulatory progress, strategic streamlining, and improving profitability expectations. [1]
For Citigroup specifically, the story going into year-end is less about a single “Christmas Eve catalyst” and more about a stack of developments in the past two weeks that has helped reframe the Citi turnaround narrative: regulators have eased parts of Citi’s compliance burden, Citi continues to unwind non-core operations (notably in Mexico), and analysts have turned more constructive as the bank’s multi‑year transformation shows tangible milestones. [2]
Below is the full, up-to-date picture of Citigroup stock on 24.12.2025—including the latest news, market context, analyst forecasts, and what investors are watching heading into 2026.
Citigroup stock today: Holiday trading, early close, and where C shares stood
U.S. markets operated on a shortened schedule for Christmas Eve, with trading set to end early and participation typically lighter than normal—conditions that can amplify day-to-day moves in liquid large-cap stocks, including major banks. [3]
Against that backdrop, Citigroup shares were in the low-$120s during the Dec. 24 session, extending a late‑December run that followed several upbeat company- and sector-level developments. Price data published for Dec. 24 showed Citi around $120.57 on the day in one widely followed dataset, while another market tracker showed Citi trading around $122 during the morning session. [4]
It’s worth noting that the broader tape was calm: Reuters described U.S. indexes as mostly flat in early Christmas Eve trading, with the S&P 500 sitting just off its intraday all-time high after a record close the previous day. [5]
The core Citi thesis that returned in December: “De-risking” the turnaround
Citigroup’s valuation has long been held back by a simple question: Can management prove the bank’s controls, data, and risk infrastructure are improving fast enough to satisfy regulators and sustain higher returns?
In December 2025, the answer started to tilt more clearly in Citi’s favor—at least in the eyes of markets—because two separate regulators took steps that signaled incremental progress.
1) OCC terminates a 2024 amendment tied to Citi’s 2020 consent order
On Dec. 18, Reuters reported Citi said the Office of the Comptroller of the Currency (OCC) withdrew a 2024 amendment to a broader 2020 consent order. Importantly, the underlying 2020 consent order remains in place, meaning Citi’s work to modernize systems and strengthen controls is ongoing—but the removal of the amendment was still viewed as another “hurdle cleared” in a process that has weighed on the stock for years. [6]
The OCC itself described the December 2025 enforcement actions it released as terminations, including an order terminating the amendment to the consent order with Citibank, N.A. [7]
Why this matters for C stock: while the market didn’t interpret it as “problem solved,” it reduces one element of regulatory pressure that investors worry could constrain flexibility—especially around capital distribution—if progress stalls.
2) The Fed closed confidential notices tied to trading risk management weaknesses
Just a day earlier, Reuters reported the Federal Reserve had closed formal notices (MRIAs) issued in late 2023 that required Citi to fix weaknesses tied to trading risk management—another step forward in the broader control-remediation effort under CEO Jane Fraser. [8]
Why this matters: these “behind-the-scenes” supervisory actions rarely become public. When they do—and when they are closed—it can help shift sentiment from “perpetual remediation” toward “measurable execution,” which is often what rerates a bank stock.
Strategy execution: Banamex divestment advances as Citi refocuses
Beyond regulation, Citi’s strategy has been to simplify the franchise—exiting select consumer operations and narrowing focus to businesses where Citi believes it has durable advantages.
A major piece of that effort is Mexico.
Citi closes sale of 25% stake in Banamex
On Dec. 15, Reuters reported Citi completed the sale of a 25% stake in its Grupo Financiero Banamex business to a company owned by Mexican billionaire Fernando Chico Pardo and his family. The deal was first announced in September and represents another step in Citi’s multi-part plan to divest the Mexican retail bank. [9]
Citi also reiterated it still plans to pursue an IPO for the Mexican retail unit, with timing and structure dependent on market conditions and regulatory approvals. [10]
Why investors care: simplifying a complex global bank can improve transparency, reduce operational drag, and potentially lift returns—especially if it frees capital and management attention for core institutional businesses.
Citi’s wealth-management pivot: BlackRock partnership enters execution phase
Another December development that fits the “simplify and partner” theme came in wealth management.
Reuters reported that BlackRock said the head of Citi’s investment management arm joined BlackRock to lead an initiative expected to oversee about $80 billion of Citi wealth-management client portfolios, under the “Citi Portfolio Solutions Powered by BlackRock” banner. The arrangement includes use of BlackRock’s Aladdin Wealth platform, while Citi’s private bankers continue providing advice and allocation support. [11]
Strategically, this kind of partnership reflects a broader industry trend: large banks increasingly emphasize advice and distribution while working with specialist managers for implementation—potentially improving scalability and economics in wealth.
Earnings backdrop: What Citi delivered in 2025 as the turnaround matured
To understand why sentiment improved into late 2025, it helps to look at Citi’s reported performance.
In its Third Quarter 2025 results release, Citigroup reported:
- Net income of $3.8 billion
- Revenues of $22.1 billion
- Diluted EPS of $1.86 (with additional figures disclosed excluding notable items) [12]
Citi also disclosed $6.1 billion returned to shareholders in the quarter through share repurchases and dividends. [13]
On capital return expectations, Citi’s board declared a $0.60 per share quarterly common dividend (payable Nov. 26, 2025, to stockholders of record on Nov. 3, 2025). [14]
Investors have generally treated these numbers as consistent with a key Citi bull case: profits can improve while restructuring costs and remediation spending become more predictable, potentially allowing the market to assign Citi a valuation closer to peers over time.
Wall Street forecasts and analyst outlooks for Citigroup stock
1) J.P. Morgan upgrades Citi to “overweight”
One of the most-cited December calls came from J.P. Morgan.
Reuters reported that on Dec. 12, J.P. Morgan upgraded Citigroup to “overweight” from “neutral,” citing a combination of economic factors and internal fixes that could improve Citi’s profitability. Reuters also reported Citi shares were up about 59% in 2025 at that point, outperforming several large peers, though Citi still trailed rivals on valuation metrics. [15]
That same Reuters report highlighted the valuation debate: Citi was described as trading at 11.2 times expected earnings over the next 12 months versus higher multiples for some peers (based on data compiled by LSEG), underscoring that the stock’s run still left room—at least in theory—for further rerating if execution holds. [16]
2) Street price targets: Still mixed, but trending constructive
Consensus targets vary by data provider and update timing, but the broad picture as of Dec. 24 looks like this:
- MarketBeat: “Moderate Buy” consensus, with an average 12‑month price target of $114.50, and a stated target range of $77 to $134 (based on 19 analysts in the last 12 months, per its methodology). [17]
- StockAnalysis: Consensus rating shown as “Buy,” with an average target of $109.93, a median target of $120, and a high target of $134 (based on 15 analysts displayed). [18]
Why targets may look “below” the current price in some trackers: price targets often lag fast rallies, and different platforms may use different “most recent” targets per firm or exclude older targets. In other words, the dispersion is itself a signal: analysts are not fully aligned on how much of Citi’s 2025 rerating is “done.”
3) Additional research notes and 2026 framing
A Zacks-authored analysis published on Nasdaq on Dec. 18 framed Citi’s 2025 rally as being supported by Fed rate cuts, revived investment banking activity, and progress in restructuring—while emphasizing that the key question is whether Citi can sustain momentum in 2026. [19]
Separately, Citi’s own market strategists have been active on the 2026 outlook. Reuters reported Citi set a 7,700 year-end target for the S&P 500 in 2026, pointing to robust corporate earnings and continued AI-related tailwinds (with an expectation that focus may shift from AI “enablers” to “adopters”). [20]
While this is not a forecast for Citi stock specifically, it helps explain why banks—highly sensitive to the macro backdrop—have been treated as credible participants in a risk-on 2026 narrative.
Sector tailwinds: Why Citi outperformed many big-bank peers in 2025
Late 2025 also brought a broader “banks are back” storyline.
A Financial Times report said America’s six largest banks added roughly $600 billion in market value in 2025, and that Citigroup outperformed peers with a roughly 70% rise for the year—helped by internal restructuring and improved sentiment as regulatory expectations shifted. [21]
Even for investors focused on Citi alone, this sector context matters because large banks tend to move together when the narrative is about:
- the rate path and net interest income expectations,
- capital return capacity (dividends and buybacks),
- regulatory posture,
- and investment banking / markets activity.
What to watch next for Citigroup stock: 5 catalysts and 5 risks into 2026
As Citi exits 2025 with momentum, the debate is likely to narrow to a handful of measurable “scorecards.”
Key catalysts for C stock in 2026
- Further regulatory milestones
Investors will watch for continued closure/termination of legacy remediation items and evidence the remaining 2020 consent order requirements are being met. [22] - Banamex IPO path and Mexico simplification
After the 25% stake sale, attention turns to what comes next, and when. [23] - Wealth strategy execution with BlackRock
Market reception will depend on whether the partnership improves client experience, efficiency, and economics without diluting Citi’s ability to differentiate its offering. [24] - Expense discipline and operating leverage
Citi’s transformation spending has been central to the bull/bear split. Markets will look for signs that major modernization projects become less of a drag and more of a competitive unlock. - Investment banking and markets conditions
Citi’s performance can meaningfully improve when issuance, M&A, and client activity rise—an environment analysts have suggested could persist if the economy stays resilient. [25]
Key risks investors are weighing
- The 2020 consent order is still active
The OCC terminated the amendment, not the broader order—meaning the remediation story isn’t “finished.” [26] - Rate cuts can be a double-edged sword
Easing can support markets activity and credit conditions, but can pressure net interest income depending on deposit pricing and balance sheet mix. - Credit-cycle risk
Any deterioration in consumer or corporate credit (including commercial real estate stress) can hit bank earnings quickly. - Execution risk in a simplified—but still complex—global bank
Citi’s international footprint is an advantage in cross-border services, but also raises operational complexity relative to more domestically concentrated peers. - Valuation debate after a huge year
After a major rerating in 2025, the bar rises: the market will want proof that profitability improvements are durable, not just cyclical.
Bottom line: Citigroup stock’s 2025 comeback is real—now it has to compound
On Dec. 24, 2025, Citigroup stock is trading into year-end with a narrative that looks materially stronger than it did a year ago: regulators are easing pieces of past burdens, the bank continues to simplify (notably through Banamex-related steps), and major analysts have become more constructive about the path to better profitability. [27]
The next phase for Citi is less about “can the stock bounce?” and more about “can execution stay consistent enough to earn a peer-like valuation—without reigniting regulatory concerns or losing momentum as rates normalize?”
This article is for informational purposes only and does not constitute investment advice.
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.investing.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.occ.treas.gov, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.sec.gov, 13. www.sec.gov, 14. www.citigroup.com, 15. www.reuters.com, 16. www.reuters.com, 17. www.marketbeat.com, 18. stockanalysis.com, 19. www.nasdaq.com, 20. www.reuters.com, 21. www.ft.com, 22. www.reuters.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.reuters.com, 26. www.reuters.com, 27. www.reuters.com
