Citigroup (C) Stock Nears New 52‑Week High as Restructuring Deepens – Latest News, Outlook and 2025

Updated: December 4, 2025

Citigroup Inc. (NYSE: C) continues to be one of 2025’s standout large‑cap bank stocks. On Thursday, the shares traded around $108.41, up about 1.6% on the day and hitting an intraday high near $108.70, extending a rally that has already lifted the stock more than 50% year‑to‑date and pushed it beyond its recent 52‑week highs. ^[1]

Behind the move is a combination of aggressive restructuring, leadership changes, and capital actions that are reshaping the global bank under CEO Jane Fraser — all while earnings trend higher and Wall Street turns more constructive on the stock.

1. Citigroup stock today: price, performance and context

As of the latest close on December 4, 2025, Citigroup shares change hands at about $108.41, after trading between $106.50 and $108.70 during the session.

Key recent performance highlights:

Citigroup stock has rallied more than 50% so far in 2025, outperforming a major index of large‑cap U.S. banks, according to multiple reports on the bank’s latest managing director (MD) promotion round. ^[2]
In recent weeks, the shares have repeatedly set fresh 52‑week highs. A MarketBeat review noted a prior high around $105.60, before the stock pushed even higher into the $108 range this week. ^[3]
Citigroup’s market capitalization now sits roughly in the high‑$170 billion to $190 billion range, depending on the data provider, putting it firmly among the largest global banks. ^[4]

The rally comes against a generally supportive backdrop for U.S. banks. In its December 2 CIO Weekly Bulletin, Citi’s own wealth unit highlighted that large‑cap bank stocks, as a group, remain well‑capitalized and continue to benefit from improving net interest margins and an increasing possibility of lighter regulation, leading the firm to say it “continues to favor high‑quality, large‑cap bank stocks going into 2026.” ^[5]

2. Restructuring enters a new phase: CFO transition and U.S. retail overhaul

One of the most important recent developments for Citigroup investors is a major leadership and organizational shake‑up announced on November 20, 2025.

2.1 Mason out as CFO, Luchetti in

In a detailed press release, Citi said long‑time Chief Financial Officer Mark Mason will transition out of the CFO role in early March 2026, becoming Executive Vice Chair and Senior Executive Advisor to CEO Jane Fraser. ^[6]

Gonzalo Luchetti, currently Head of U.S. Personal Banking, will become the new CFO after the filing of Citi’s 2025 year‑end results. ^[7]
Mason, one of the most senior Black executives in global banking, has been CFO since 2019 and will stay through 2026 in an advisory capacity focused on strategic initiatives and preparing for the next Investor Day on May 7, 2026. ^[8]

A Reuters report underscored that the move surprised some analysts, with Wells Fargo’s Mike Mayo calling the incoming finance chief “unproven and unknown as a CFO,” and warning the change might not help the stock in the very near term, even as Citi continues to pursue higher returns. ^[9]

2.2 U.S. Personal Banking folded into Wealth; cards elevated

Alongside the CFO transition, Citi is re‑architecting its U.S. consumer businesses: ^[10]

The U.S. retail bank and Citigold tiers (Everyday Banking, Citi Priority, Citigold and Citigold Private Client) will be integrated into the firm’s Wealth business, under a unified leadership structure headed by Kate Luft, who becomes Head of U.S. Retail Banking and Citigold, reporting to global wealth chief Andy Sieg.
Citi’s Branded Cards and Retail Services units will be combined into a new U.S. Consumer Cards business, one of Citi’s five core global businesses, led by Pam Habner, who will report directly to Fraser and join the Executive Management Team.

Citi’s announcement highlighted that Luchetti’s tenure leading U.S. Personal Banking delivered 12 consecutive quarters of positive operating leverage and a 14.5% return on tangible common equity (RoTCE) in Q3 2025, more than double the prior year’s level, illustrating why management sees him as well‑placed to drive the next leg of the financial and strategic transformation from the CFO seat. ^[11]

The restructuring and leadership shuffle are explicitly tied to Citi’s ambition to reach its 2026 return target, which includes achieving a 10–11% RoTCE and an efficiency ratio below 60%. ^[12]

3. Capital actions: full redemption of Series W preferred stock

On December 3, 2025, Citigroup announced it will fully redeem its Series W preferred stock, a notable capital management move just as the common stock tests new highs. ^[13]

Key details:

Citi will redeem all $1.5 billion of its 4.000% Fixed Rate Reset Noncumulative Preferred Stock, Series W, represented by depositary shares.
The redemption date is December 10, 2025. Each depositary share will be redeemed for $1,000 in cash, and holders of record as of November 26, 2025 will also receive the previously declared $10 quarterly dividend per share on the redemption date.
Citi said the move is part of its liability management strategy, aiming to improve the efficiency of its funding and capital structure, taking into account factors such as net interest margin, regulatory changes, and overall capital impact. ^[14]

While $1.5 billion is modest relative to Citi’s balance sheet, retiring a 4% preferred instrument as the bank’s common equity strengthens is generally viewed as incrementally positive for long‑term funding costs and capital flexibility.

4. Talent reshaping: MD promotions, prime brokerage hire and wealth churn

Citi’s restructuring isn’t just about org charts – it’s deeply tied to who is running the franchises.

4.1 Smallest MD class since 2020, but focused on markets and wealth

On December 3, Citigroup said it had promoted 276 employees to managing director for 2025, the smallest MD class in five years. ^[15]

Across coverage from Reuters and Economic Times, key points emerge:

The new MDs span 21 countries, with almost 49% based in North America, and women representing about 28% of the class. ^[16]
Citi’s markets division led the promotions with 55 new MDs, followed by 45 in the banking division, underscoring management’s emphasis on trading and investment banking. ^[17]
The announcement came after the markets business posted a record third quarter, with revenues rising about 15% year‑on‑year to $5.6 billion. ^[18]

Business Insider’s breakdown of the MD class noted that the 2025 cohort is highly international and experienced – spanning 32 nationalities, with a median of 16 years at Citi and roughly 20 years in financial services – and is being promoted amid a multi‑year effort to simplify Citi’s structure, strengthen risk and control, and invest in a large‑scale technology overhaul. ^[19]

4.2 Prime brokerage push: Citi poaches BofA exec

In another December development, Citi hired Donald Salem from Bank of America to serve as global head of prime brokerage, part of the bank’s bid to deepen relationships with hedge funds and large institutional trading clients. ^[20]

Reuters reported that Salem had previously run BofA’s global prime brokerage, and will now sit within Citi’s markets division as it tries to capture more wallet share in derivatives and financing alongside its trading franchise. ^[21]

4.3 Leadership churn in wealth

At the same time, Citi has seen turnover in its wealth leadership. A Barron’s report (behind a paywall) flagged the departure of Valentin Valderrabano, chief operating officer for wealth management, just as the bank is folding U.S. retail into wealth and pushing for more cross‑selling to affluent clients. ^[22]

Taken together, the promotions, hires and departures paint a picture of a bank re‑tilting its leadership towards markets, wealth and cards — the franchises management believes can drive higher returns in the next phase of the turnaround.

5. Earnings snapshot: Q3 2025 beat and improving returns

Citigroup’s recent earnings help explain why investors have been willing to rerate the stock.

According to Investing.com’s Q3 2025 earnings summary and other coverage: ^[23]

Adjusted EPS for Q3 2025 came in at $2.24, beating forecasts by roughly 28%.
Revenue reached about $22.09 billion, up around 9% year‑over‑year and ahead of consensus estimates near $21 billion.
Net income was about $3.8 billion, with positive operating leverage across all business segments. ^[24]
Citi reiterated a goal of achieving 10–11% RoTCE by 2026, alongside an efficiency ratio below 60%, supported by ongoing cost saves from the simplification program. ^[25]

Earlier in the year, Reuters noted that Citi’s restructuring – including layoffs, leadership changes and business exits – contributed to a strong 2024 share‑price performance, with the stock up 37% that year, outpacing both the broader banking index and the S&P 500. ^[26]

The Q3 beat and rising returns suggest that the bank is starting to convert restructuring pain into measurable financial gains, though the journey toward peer‑level profitability is still in progress.

6. What Wall Street is saying now: ratings and price targets

Different aggregators show slightly different numbers, but they point in the same direction: Wall Street is broadly bullish on Citigroup, with expectations for moderate further upside.

6.1 Consensus ratings

Investing.com’s consolidated analyst dashboard shows: ^[27]

22 analysts covering Citigroup
16 Buy, 5 Hold, 1 Sell recommendations
Overall consensus rating: Buy

This aligns with other platforms that classify the stock as a “Moderate Buy” or “Buy” based on the balance of positive vs. neutral recommendations. ^[28]

6.2 Near‑term price targets

On 12‑month price targets, data diverges slightly by provider and methodology:

Investing.com reports an average 12‑month target of about $114.33, implying roughly 6% upside from current levels. Recent bank‑analyst targets include $118 from Keefe, Bruyette & Woods, $115 from Barclays, and $120 from Oppenheimer. ^[29]
Benzinga compiles a consensus target near $97.71 from 19 analysts, with a high estimate of $134 and a low of $65, and notes that the stock is currently rated a Buy overall. ^[30]
Some brokerages have lifted targets into the $115–$125 area following the Q3 beat and evidence of improving returns, according to MarketBeat’s recent coverage of a new 52‑week high. ^[31]

In short: most major sell‑side firms expect modest to mid‑teens percentage upside from here, with a handful of more aggressive targets banking on a faster convergence of Citi’s returns toward peers.

7. Medium‑term forecasts: earnings and fair value

Beyond the next year, several research platforms and data providers have published medium‑ and long‑term fundamental and price projections for Citigroup.

7.1 EPS and earnings growth through 2026–2028

Investing.com’s “Market Outlook” section currently highlights the following consensus forecasts: ^[32]

FY 2025 EPS: about $7.50
FY 2026 EPS: about $9.50

If realised, that would represent a step‑up in earnings as the restructuring matures, capital is redeployed into higher‑return businesses, and cost reductions flow through.

Simply Wall St’s narrative‑driven model projects Citi’s revenue climbing to around $88.8 billion and annual earnings to roughly $17.2 billion by 2028, which implies about 6.8% annual revenue growth from today’s base and a roughly $4.3 billion increase in net income over the period. ^[33]

7.2 Intrinsic value estimates

Valuation models also suggest modest upside but with wide dispersion:

Simply Wall St estimates a fair value around $114.33 per share, which is about 7% above the current price, based on its discounted cash‑flow and analyst forecast inputs. ^[34]
Morningstar, in a late‑November note, said it had raised its fair value estimate for Citigroup to $90 from $82, describing the shares as roughly fairly valued at that time. ^[35]

These frameworks differ in assumptions – particularly on long‑term profitability and capital intensity – but both capture the same core idea: most of the “easy” turnaround value may already be reflected, while further upside depends on sustained execution.

8. Long‑term price scenarios to 2030 and beyond

For investors thinking beyond the usual 12‑month window, Benzinga recently published an extended C stock price prediction that combines Wall Street targets with algorithmic projections from CoinCodex. ^[36]

Highlights from that piece include:

Citigroup’s 1‑year total return is put at about +62%, with 2025 year‑to‑date gains near +44% at the time of publication, underscoring how strong the recent rally has been. ^[37]
Based on 19 analyst ratings, the article cites a consensus target around $97.71, with bullish calls as high as $134. ^[38]
CoinCodex’s algorithmic projections (which are not analyst opinions) suggest average price paths such as:
- 2025: average around $103.25 (bull case ~$107.48, bear case ~$99.31)
- 2026: average around $91.53 (bull case ~$121.10, bear case ~$72.82)
- Stretch scenarios showing potential averages above $160–$240 by 2030 under favourable conditions. ^[39]

Benzinga stresses, and it’s worth reiterating, that such algorithmic forecasts are highly speculative, based largely on past volatility and price patterns rather than detailed fundamentals. Still, they illustrate just how wide the possible range of outcomes for a global bank stock can be over a decade‑long horizon.

9. Investment narrative: why bulls and bears disagree

A recent analysis on Simply Wall St framed the investment case this way: to own Citi today, investors must believe that its multi‑year restructuring, tighter capital management and focus on core franchises will translate into higher and more consistent returns, as the bank reshapes its funding profile and leadership team. ^[40]

9.1 Bullish arguments

Supporters of the stock generally point to:

Valuation: Citi still trades around 1.0x price‑to‑book and a mid‑teens trailing P/E, slightly above some banks but still at a discount to peers if returns keep improving. ^[41]
Improving profitability: Q3 2025 results showed 9% revenue growth, positive operating leverage, and better RoTCE, suggesting the heavy lifting in simplification is starting to show up in the numbers. ^[42]
Capital flexibility: CET1 capital has been built up, enabling ongoing buybacks and moves like the Series W preferred redemption, which can incrementally enhance returns to common shareholders. ^[43]
Macro backdrop: Citi’s own CIO commentary describes a healthy, well‑capitalised U.S. banking sector, supported by resilient consumers and the prospect of some deregulation. ^[44]

Some commentators, including Seeking Alpha and Motley Fool contributors, have argued that if Citi can continue to grow earnings and improve returns through 2026, the stock could re‑rate further and “soar” in the medium‑term — though those pieces also acknowledge ongoing execution risk. ^[45]

9.2 Bearish and cautious views

Skeptics and cautious analysts emphasise several risks:

Execution risk: Citi has a long history of complex restructurings. Wells Fargo’s Mike Mayo has warned that the new CFO is “unproven” in that role and that required earnings restatements tied to the latest reorganisation add complexity. ^[46]
Regulatory and transformation costs: Large banks remain under heavy regulatory scrutiny. Articles from Benzinga and Simply Wall St highlight that ongoing compliance and transformation spending could stay elevated longer than bulls expect, squeezing margins. ^[47]
Economic cycle risk: As a globally diversified bank, Citi is exposed to geopolitical shocks, credit cycles and emerging‑market volatility, including in regions where it has been cutting jobs and reshaping operations (such as Asia and Mexico). ^[48]
Leadership churn: While promotions and new hires signal depth of talent, the combination of a CFO transition, wealth leadership departures, and continued attrition tied to the overhaul adds uncertainty around how smoothly the transformation will proceed. ^[49]

For now, the market appears willing to give Citi the benefit of the doubt, rewarding tangible progress in earnings and returns — but expectations are higher than a year ago, which leaves less room for missteps.

10. What to watch next for Citigroup stock

For investors following Citigroup into 2026, several catalysts and watch‑points stand out:

2025 year‑end results and early‑2026 guidance
- Whether Citi can keep delivering revenue growth and margin expansion while continuing to trim costs and simplifying the organisation. ^[50]
CFO transition in March 2026
- How Gonzalo Luchetti sets out his capital and funding priorities, and whether he can sustain or accelerate RoTCE improvements without elevating risk. ^[51]
Investor Day on May 7, 2026
- Management is expected to lay out detailed plans to “further grow returns,” including new medium‑term targets and potentially more clarity on Banamex and other portfolio moves. ^[52]
Capital actions and buybacks
- The pace of common‑stock repurchases and any further preferred redemptions will signal how management balances growth, regulatory capital and shareholder distributions. ^[53]
Macro and regulation
- Interest‑rate cuts, credit trends, and evolving bank‑capital rules in the U.S. and abroad will all influence Citi’s earnings trajectory and valuation multiple. ^[54]

11. Bottom line

Citigroup’s stock has enjoyed a remarkable recovery in 2024–2025, powered by earnings beats, a clearer restructuring roadmap, and rising investor confidence in CEO Jane Fraser’s multi‑year turnaround. The latest wave of news from December 3–4, 2025 — from the Series W preferred redemption and MD promotions to the prime brokerage hire — reinforces the picture of a bank still actively reshaping itself for higher, more sustainable returns.

Most analysts rate the stock a Buy and see moderate further upside over the next year, with some long‑term models suggesting substantial potential if Citi can close the profitability gap with peers. At the same time, the CFO transition, ongoing reorganisation and macro uncertainty mean the story is far from risk‑free.

For current and prospective investors, the key question for 2026 and beyond is simple to ask but hard to answer: Can Citigroup turn today’s restructuring momentum into durable, peer‑level profitability without new surprises on regulation, risk or costs?

Important note:
This article is for informational and journalistic purposes only and does not constitute investment advice, a recommendation to buy or sell any security, or a solicitation of any kind. Always do your own research and consider consulting a licensed financial adviser before making investment decisions.

References

Citigroup (C) Stock Nears New 52‑Week High as Restructuring Deepens – Latest News, Outlook and 2025–2030 Forecasts