NEW YORK — December 20, 2025 — Citigroup Inc. stock is heading into the final stretch of the year with fresh momentum after closing at $114.86 on Friday (Dec. 19), marking a new 52‑week high and extending a three-day winning streak. While U.S. markets are closed today (Saturday), investors are still digesting a burst of late‑week catalysts—most notably, a pair of regulatory developments that many see as incremental but meaningful progress in Citi’s years‑long effort to repair risk controls and modernize its infrastructure. [1]
What stands out: the stock’s latest push higher hasn’t been driven by a single earnings beat or a one‑off headline. Instead, it reflects a convergence of themes that have dominated Citi’s 2025 story—turnaround execution, regulatory overhang lifting in stages, and a bank-sector backdrop that still rewards scale in markets and advisory.
Below is a full roundup of the most relevant news, forecasts, and analyst commentary available as of December 20, 2025, plus the key catalysts to watch next.
Citigroup stock price today: where shares stand on Dec. 20, 2025
Citigroup shares last traded at $114.86 (Dec. 19 close). The move came with unusually heavy trading volume: MarketWatch reported 33.6 million shares, far above the stock’s 50‑day average of 12.8 million, a sign of elevated institutional activity into year‑end. [2]
Market data also shows Citi traded between $112.84 and $115.59 intraday, with an opening print around $113.42.
Why Citigroup stock is moving: the biggest headlines driving C shares
1) The Fed closed Citi risk-control notices tied to trading risk management
One of the most market-sensitive stories this week: Reuters reported that the U.S. Federal Reserve terminated formal supervisory notices (MRIAs) that had required Citi to fix trading risk management weaknesses. According to Reuters, the notices dated back to late 2023 and related to counterparty credit risk measurement and governance issues—topics that have long been central to the “Citi discount” in valuation discussions. [3]
For investors, this matters because MRIAs are typically confidential and don’t always show up in public narratives—until they’re resolved. The Fed’s action doesn’t mean Citi’s regulatory work is “done,” but it does signal measurable progress on a set of issues that can become more severe if left unresolved. [4]
2) OCC withdrew a 2024 amendment to Citi’s 2020 consent order
A day after the Fed development, Reuters reported another step forward: the Office of the Comptroller of the Currency (OCC) withdrew a 2024 amendment to a 2020 consent order (the underlying 2020 order remains in place). Reuters noted that the withdrawn amendment had required Citi to prove it was devoting adequate resources to remediation, with the possibility of restrictions on capital distributions if progress lagged. [5]
The OCC’s termination order is publicly posted and states the agency believes safety and soundness no longer require the continued existence of the amendment. [6]
Citi, for its part, framed the decision as consistent with its ongoing modernization push, reiterating that transformation is its top priority and that it is dedicating resources to strengthen its risk and control environment. [7]
The Financial Times added broader context—linking the easing to Citi’s long-running remediation efforts that followed major penalties and operational problems, while emphasizing the broader consent order still remains active. [8]
3) Wall Street upgraded Citi as the turnaround narrative strengthened
On the analyst side, Reuters reported that J.P. Morgan upgraded Citigroup to “overweight” from “neutral”, citing a mix of internal fixes and economic factors expected to improve profitability. Reuters also highlighted Citi’s strong 2025 performance and noted that even after the rally, Citi’s valuation still trails peers on common metrics. [9]
Wells Fargo banking analyst Mike Mayo reiterated to Reuters that Citi remained a top pick for 2025 and 2026, maintaining a bullish stance that has been relatively distinctive among major-bank coverage over the past few years. [10]
Citi’s strategy headlines investors are watching beyond the regulatory news
Banamex divestment continues: 25% stake sale completed; IPO plan remains on the table
Citigroup has continued to reduce complexity and re-shape its international footprint. Reuters reported Citi completed the sale of a 25% stake in Grupo Financiero Banamex to a firm owned by Mexican billionaire Fernando Chico Pardo and his family, describing it as another step toward Citi’s goal of divesting the Mexican retail bank. Citi also reiterated that it still plans to pursue a Banamex IPO, subject to market conditions and regulatory approvals. [11]
This matters for Citi stock because Banamex has been a multi‑year story: investors often interpret the divestment path as part of a broader “simplify and reallocate” strategy—freeing management bandwidth and potentially capital for higher-return priorities.
Citi and LSEG announced a multi‑year data and analytics partnership
In a separate modernization-related development, LSEG and Citi announced a multi‑year strategic partnership to deploy LSEG’s data, analytics, and workflow solutions at enterprise scale. LSEG said the partnership is intended to strengthen Citi’s data foundations, support modernization, and improve the quality and speed of client delivery—spanning markets, investment banking, wealth, trading, risk, finance, and compliance. [12]
For a bank that has repeatedly been challenged on data quality and controls, investors may view infrastructure improvements like this as indirectly supportive of Citi’s broader remediation timeline—though, as always, execution is what ultimately matters.
Wealth-management reshaping: Citi investment head moved to BlackRock as partnership ramps
Reuters also reported that the head of Citi’s investment management arm joined BlackRock to help run an initiative overseeing about $80 billion of Citi wealth-management client portfolios, under the “Citi Portfolio Solutions Powered by BlackRock” arrangement announced earlier. Reuters described the move as part of a broader trend of banks partnering with specialist asset managers while focusing internally on advice and planning rather than running all investment strategies in‑house. [13]
Earnings outlook: what Wall Street expects from Citi’s next report
Citi’s next major scheduled catalyst is its Fourth Quarter 2025 earnings call on Wednesday, January 14, 2026, according to Citi’s investor relations events calendar. [14]
A recent earnings preview on Barchart estimated that analysts expect Citi to report Q4 EPS of $1.77, up from $1.34 a year earlier, and projected full-year 2025 EPS of $7.93, with 2026 EPS of $10.05 in its cited consensus data. [15]
Separately, Citi’s CFO Mark Mason told investors at a Goldman Sachs financial services conference that Citi was seeing strong momentum in investment banking—expecting investment banking fees up in the mid‑20% range year-over-year in the fourth quarter—while noting that markets revenue was expected to be down low-to-mid single digits versus the year‑ago quarter. [16]
Those two data points—an IB rebound and steadier markets revenue—help explain why investors are increasingly treating Citi as a blend of a turnaround story and a capital markets cycle story, not just a traditional consumer/lending bank.
Analyst forecasts and price targets for Citigroup stock
After a powerful 2025 rally, the analyst debate is shifting from “can Citi execute at all?” to “how much upside is left at this price?”
Here’s how the published consensus looks across widely followed trackers:
- Barchart describes Street sentiment as “moderately optimistic,” citing a mean price target of $117.09, implying modest upside from current levels, and reporting a split of buys and holds among covering analysts. [17]
- MarketBeat lists an average 12‑month price target of $114.50, with a high of $134 and a low of $77, implying that some firms now see Citi as closer to fairly valued after the run-up, while others still see wide dispersion in outcomes. [18]
Meanwhile, several broker notes circulating this week pointed to higher targets:
- GuruFocus reported Keefe, Bruyette & Woods (KBW) raised its Citi price target to $131 from $118 while keeping an “Outperform” rating (reported Dec. 17). [19]
- Investing.com reported Wolfe Research reiterated an “Outperform” with a $121 target and also referenced J.P. Morgan’s upgrade and price target increase. [20]
Taken together, these snapshots suggest a market that’s no longer pricing Citi like a deep “re-rating optionality” play—yet several analysts still argue there’s runway if Citi can sustain profitability improvements and continue chipping away at the risk-control narrative.
The bull case for Citi stock in 2026
Investors who remain constructive on Citigroup stock generally point to a few overlapping drivers:
- Regulatory risk is easing, step by step. The Fed’s closure of trading-risk MRIAs and the OCC’s withdrawal of the 2024 amendment don’t erase the broader consent-order environment, but they reduce uncertainty around whether Citi is moving forward or stuck. [21]
- Turnaround execution is becoming more visible in external commentary. The J.P. Morgan upgrade (and continued bullish calls from Wells Fargo’s Mike Mayo) highlight the market’s growing willingness to credit Citi for structural simplification and controls work. [22]
- Capital markets activity has been supportive. Citi management has explicitly pointed to M&A momentum and stronger investment banking fees in Q4—an area that can meaningfully move results for a global bank with a large institutional footprint. [23]
- Strategic simplification continues. Banamex divestment steps and wealth-management partnership shifts fit the “focus and streamline” narrative that investors have increasingly rewarded across the U.S. banking sector. [24]
The bear case: why some analysts say the easy money has been made
Not everyone is convinced Citi remains a clear value after the surge.
Some recent independent analysis on Seeking Alpha has argued that, while Citi’s reorganization has helped, the stock is no longer the undervalued opportunity it once was—raising questions about valuation and execution risk at current levels. [25]
Zacks, while broadly constructive on Citi’s restructuring progress and 2025 outperformance, also framed the key 2026 question as whether Citi can sustain momentum after such a strong year—implicitly acknowledging the bar is higher now. [26]
And critically, the core regulatory story isn’t finished: the OCC’s 2020 consent order remains active, and Citi’s broader control environment will continue to be scrutinized by multiple regulators. [27]
What to watch next for Citigroup stock
If you follow Citi stock (C) into year‑end and early 2026, these are the most likely near‑term catalysts:
- Q4 2025 earnings (Jan. 14, 2026) and management commentary on expenses, capital return, and progress toward target operating metrics. [28]
- Follow-through on regulatory remediation, including whether additional orders or notices are reduced, modified, or lifted over time. [29]
- Investment banking and markets trends as M&A and IPO activity evolves into 2026—especially given Citi’s Q4 fee outlook. [30]
- Banamex IPO timing and structure, which Citi has repeatedly said depends on market conditions and approvals. [31]
- Operational modernization milestones, including data and workflow integration under Citi’s new partnership framework with LSEG. [32]
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.occ.gov, 7. www.occ.treas.gov, 8. www.ft.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.lseg.com, 13. www.reuters.com, 14. www.citigroup.com, 15. www.barchart.com, 16. www.reuters.com, 17. www.barchart.com, 18. www.marketbeat.com, 19. www.gurufocus.com, 20. www.investing.com, 21. www.reuters.com, 22. www.reuters.com, 23. www.reuters.com, 24. www.reuters.com, 25. seekingalpha.com, 26. www.nasdaq.com, 27. www.reuters.com, 28. www.citigroup.com, 29. www.reuters.com, 30. www.reuters.com, 31. www.reuters.com, 32. www.lseg.com
