Analyst Consensus ?
ConsensusBuy27 ratings
Bullish1659.3%
Neutral1037.0%
Bearish13.7%
Citigroup Inc. · C · FY2026 Q2 · Calendar Q3 2026
Citigroup Posts Decade-High Revenue, EPS Beat by 15%, but Shares Drop 5.6%
Citigroup delivered its strongest quarterly revenue in a decade, beating EPS estimates by ~15% and revenue by ~4% with double-digit growth across all five segments. Services hit a record with a 30.9% ROTCE, and the firm announced a 12% dividend increase alongside a $30B buyback. Despite these results, shares fell 5.6% on the earnings session with 2.35x normal volume — consistent with concerns over H2 Markets seasonality (historically a ~20% revenue decline), conservatism of the maintained 10–11% ROTCE target given H1 strength, and potential expense growth as investments accelerate. The stock at $133.11 sits ~12% below the analyst consensus target of $151.
Reported Before market openNYSEFinancial Services
$228.27B market cap
100quality score
Company context
Snapshot as of publicationCitigroup, Inc. is a holding company, which engages in the provision of financial products and services. It operates through the following segments: Services, Markets, Banking, Wealth, U.S. Personal Banking (USPB), and All Other. The Services segment includes Treasury and Trade Solutions (TTS) which provides an integrated suite of tailored cash management, trade, and working capital solutions to multinational corporations, financial institutions and public sector organizations, and Securities Services, which offers cross-border support for clients, providing on-the-ground local market expertise, post-trade technologies, customized data solutions, and a wide range of securities services solutions that can be tailored to meet client needs.…
Earnings scorecard
Reported versus consensus
Reported EPS
$3.15
Consensus $3
EPS surprise
+15.0%
Reported versus consensus
Reported revenue
$24.77B
Consensus $23.74B
Revenue surprise
+4.3%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$138.61Current
$50Low
$110.01Average
$165High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Aug 3, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 17, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 15, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jul 15, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 7, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 6, 2026 |
| Oppenheimer | Perform | Outperform | Downgrade | Jun 30, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jun 29, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jun 18, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | May 8, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Apr 15, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 15, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 15, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Jan 29, 2026 |
| TD Cowen | Hold | Hold | Maintain | Oct 15, 2025 |
| Argus Research | Buy | Buy | Maintain | Mar 18, 2025 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 15, 2024 |
| Jefferies | Hold | Hold | Maintain | Apr 8, 2024 |
| HSBC | Buy | Buy | Maintain | Mar 28, 2024 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 3, 2024 |
| Odeon Capital | Buy | Hold | Upgrade | Jul 18, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Jul 17, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Sep 12, 2022 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Mar 3, 2022 |
| Sterne Agee | Buy | Buy | Maintain | May 22, 2012 |
| JMP Securities | Underperform | Market Perform | Downgrade | May 21, 2012 |
| Meredith Whitney Advisory Group | Hold | Underperform | Upgrade | Apr 18, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $138.61. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $142 | $132.44 | +2.4% | Aug 3, 2026 |
| Truist Financial | Analyst unavailable | $154 | $133.74 | +11.1% | Jul 15, 2026 |
| Argus Research | Analyst unavailable | $150 | $133.7 | +8.2% | Jul 15, 2026 |
| Evercore ISI | Glenn Schorr | $143 | $142.62 | +3.2% | Jul 6, 2026 |
| Morgan Stanley | Manan Gosalia | $164 | $142.57 | +18.3% | Jun 29, 2026 |
| Truist Financial | Analyst unavailable | $158 | $142.41 | +14.0% | Jun 26, 2026 |
| Wells Fargo | Analyst unavailable | $165 | $143.85 | +19.0% | Jun 18, 2026 |
| Oppenheimer | Analyst unavailable | $145 | $130.16 | +4.6% | May 8, 2026 |
| Truist Financial | John McDonald | $147 | $129.49 | +6.1% | May 1, 2026 |
| Wells Fargo | Analyst unavailable | $162 | $128.53 | +16.9% | Apr 29, 2026 |
| Evercore ISI | Analyst unavailable | $139 | $130.79 | +0.3% | Apr 15, 2026 |
| RBC Capital | Gerard Cassidy | $139 | $129.65 | +0.3% | Apr 15, 2026 |
| Truist Financial | John McDonald | $139 | $129.65 | +0.3% | Apr 15, 2026 |
| Morgan Stanley | Manan Gosalia | $144 | $129.65 | +3.9% | Apr 15, 2026 |
| Piper Sandler | Analyst unavailable | $145 | $129.65 | +4.6% | Apr 15, 2026 |
| Goldman Sachs | Richard Ramsden | $151 | $129.65 | +8.9% | Apr 15, 2026 |
| Wells Fargo | Analyst unavailable | $160 | $129.65 | +15.4% | Apr 15, 2026 |
| Barclays | Jason Goldberg | $154 | $129.65 | +11.1% | Apr 15, 2026 |
| Truist Financial | Analyst unavailable | $133 | $112.41 | -4.0% | Mar 26, 2026 |
| Morgan Stanley | Manan Gosalia | $152 | $113.92 | +9.7% | Feb 17, 2026 |
| UBS | Erika Najarian | $132 | $116.96 | -4.8% | Jan 15, 2026 |
| Morgan Stanley | Betsy Graseck | $135 | $116.44 | -2.6% | Jan 15, 2026 |
| Oppenheimer | Chris Kotowski | $144 | $112.41 | +3.9% | Jan 15, 2026 |
| Piper Sandler | Analyst unavailable | $135 | $112.41 | -2.6% | Jan 15, 2026 |
| Wolfe Research | Analyst unavailable | $141 | $121.45 | +1.7% | Jan 7, 2026 |
| HSBC | Analyst unavailable | $87 | $121.02 | -37.2% | Jan 7, 2026 |
| Truist Financial | Analyst unavailable | $129 | $123.31 | -6.9% | Jan 6, 2026 |
| Goldman Sachs | Analyst unavailable | $127 | $123.31 | -8.4% | Jan 6, 2026 |
| Wells Fargo | Mike Mayo | $150 | $122.7 | +8.2% | Jan 5, 2026 |
| Barclays | Jason Goldberg | $146 | $118.69 | +5.3% | Jan 5, 2026 |
| Truist Financial | John McDonald | $123 | $113.62 | -11.3% | Dec 18, 2025 |
| Wolfe Research | Steven Chubak | $121 | $111.28 | -12.7% | Dec 17, 2025 |
| Piper Sandler | Analyst unavailable | $118 | $109.43 | -14.9% | Dec 10, 2025 |
| Piper Sandler | Analyst unavailable | $120 | $109.43 | -13.4% | Dec 10, 2025 |
| UBS | Erika Najarian | $108 | $99.63 | -22.1% | Nov 24, 2025 |
| Cowen & Co. | Analyst unavailable | $110 | $99.36 | -20.6% | Oct 15, 2025 |
| Morgan Stanley | Betsy Graseck | $134 | $101.62 | -3.3% | Oct 15, 2025 |
| Piper Sandler | Analyst unavailable | $110 | $99.84 | -20.6% | Oct 15, 2025 |
| Barclays | Analyst unavailable | $115 | $99.84 | -17.0% | Oct 15, 2025 |
| Goldman Sachs | Richard Ramsden | $118 | $99.84 | -14.9% | Oct 14, 2025 |
| Morgan Stanley | Analyst unavailable | $129 | $103.42 | -6.9% | Sep 29, 2025 |
| Wells Fargo | Mike Mayo | $125 | $99.54 | -9.8% | Sep 16, 2025 |
| Truist Financial | John McDonald | $105 | $93.82 | -24.2% | Sep 3, 2025 |
| Oppenheimer | Chris Kotowski | $123 | $89.03 | -11.3% | Jul 16, 2025 |
| Morgan Stanley | Betsy Graseck | $103 | $88.78 | -25.7% | Jul 7, 2025 |
| RBC Capital | Gerard Cassidy | $78 | $62.1 | -43.7% | Apr 16, 2025 |
| Truist Financial | Analyst unavailable | $84 | $58.13 | -39.4% | Apr 4, 2025 |
| Bank of America Securities | Ebrahim Poonawala | $78 | $62.64 | -43.7% | Oct 16, 2024 |
| Oppenheimer | Chris Kotowski | $91 | $62.64 | -34.3% | Oct 16, 2024 |
| Morgan Stanley | Betsy Graseck | $82 | $62.64 | -40.8% | Oct 16, 2024 |
| Evercore ISI | Glenn Schorr | $64 | $62.64 | -53.8% | Oct 16, 2024 |
| CFRA | Kenneth Leon | $73 | $62.64 | -47.3% | Oct 15, 2024 |
| Goldman Sachs | Richard Ramsden | $71 | $57.95 | -48.8% | Sep 10, 2024 |
| Piper Sandler | Scott Siefers | $73 | $61.06 | -47.3% | Sep 3, 2024 |
| Morgan Stanley | Betsy Graseck | $79 | $64.3 | -43.0% | Jul 30, 2024 |
| Goldman Sachs | Richard Ramsden | $72 | $65.5 | -48.1% | Jul 15, 2024 |
| Oppenheimer | Chris Kotowski | $85 | $61.55 | -38.7% | Jun 28, 2024 |
| RBC Capital | Gerard Cassidy | $66 | $59.67 | -52.4% | Jun 17, 2024 |
| Wells Fargo | Mike Mayo | $85 | $60.01 | -38.7% | Jun 13, 2024 |
| CFRA | Kenneth Leon | $71 | $63.02 | -48.8% | May 23, 2024 |
| UBS | Erika Najarian | $64 | $58.56 | -53.8% | Apr 15, 2024 |
| BMO Capital | James Fotheringham | $63 | $59.68 | -54.5% | Apr 15, 2024 |
| Goldman Sachs | Richard Ramsden | $69 | $59.12 | -50.2% | Apr 12, 2024 |
| Jefferies | Ken Usdin | $65 | $61.96 | -53.1% | Apr 8, 2024 |
| UBS | Erika Najarian | $66 | $62.29 | -52.4% | Apr 4, 2024 |
| Seaport Global | Jim Mitchell | $75 | $61.69 | -45.9% | Apr 4, 2024 |
| Evercore ISI | Glenn Schorr | $60 | $61.69 | -56.7% | Apr 4, 2024 |
| Goldman Sachs | Richard Ramsden | $68 | $57.09 | -50.9% | Mar 14, 2024 |
| Piper Sandler | Piper Sandler's | $63 | $53.9 | -54.5% | Feb 14, 2024 |
| Morgan Stanley | Betsy Graseck | $65 | $54.11 | -53.1% | Jan 30, 2024 |
| HSBC | Saul Martinez | $61 | $53.48 | -56.0% | Jan 10, 2024 |
| Oppenheimer | Chris Kotowski | $88 | $46.29 | -36.5% | Jul 17, 2023 |
| Roth Capital | Susan Roth Katzke | $50 | $45.75 | -63.9% | Jul 17, 2023 |
| Morgan Stanley | Betsy Graseck | $41 | $48.71 | -70.4% | Jan 12, 2023 |
| Barclays | Jason Goldberg | $64 | $49.98 | -53.8% | Jul 17, 2022 |
| Morgan Stanley | Betsy Graseck | $57 | $46.87 | -58.9% | Jul 2, 2022 |
| Piper Sandler | Jeffery Harte | $62 | $46.87 | -55.3% | Jul 2, 2022 |
| RBC Capital | Gerard Cassidy | $60 | $46.87 | -56.7% | Jul 2, 2022 |
| Barclays | Jason Goldberg | $67 | $50.55 | -51.7% | Apr 11, 2022 |
| Piper Sandler | Jeffery Harte | $70 | $50.88 | -49.5% | Apr 8, 2022 |
| KBW | David Konrad | $64 | $57.62 | -53.8% | Mar 3, 2022 |
| Atlantic Equities | John Heagerty | $70 | $57.62 | -49.5% | Mar 3, 2022 |
| Bank of America Securities | Erika Najarian | $90 | $57.62 | -35.1% | Mar 3, 2022 |
| Deutsche Bank | Matt O'Connor | $66 | $59.56 | -52.4% | Mar 2, 2022 |
| Wells Fargo | Mike Mayo | $80 | $64.14 | -42.3% | Feb 20, 2022 |
| Oppenheimer | Chris Kotowski | $107 | $63.65 | -22.8% | Jan 27, 2022 |
| Evercore ISI | Glenn Schorr | $70 | $64.79 | -49.5% | Jan 18, 2022 |
| Societe Generale | Andrew T Lim | $72 | $64.4 | -48.1% | Jan 6, 2022 |
| Wolfe Research | Steven Chubak | $71 | $63.09 | -48.8% | Jan 4, 2022 |
| Odeon Capital Group LLC | Richard Bove | $69.25 | $59.77 | -50.0% | Dec 15, 2021 |
| Argus Research | Stephen Biggar | $87 | $70.35 | -37.2% | Apr 16, 2021 |
Track every rating change on C the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-5.3%
Event window
SPY move
+0.4%
Same window
Abnormal move
-5.6%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
-0.1%
Up to 20 sessions
CSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Q2 revenue rose 14% YoY with double-digit growth across all five segments, delivering the firm's strongest quarterly revenue in a decade. EPS came in at $3.15 vs $2.74 consensus (15% beat), and ROTCE improved to 13% firm-wide and 30.9% in Services. CET1 held at 12.8%. Operating leverage improved over 9%. The firm acquired the American Airlines co-branded credit-card portfolio from Barclays in April, expanding USPB. AI tools are now used by 90% of staff, driving productivity gains and faster product rollout. Management announced a 12% dividend increase and plans to pull forward 2027 investments to accelerate near-term returns. The stress-test SEV improved by 30 basis points to 3.3% implied, and approximately $500M of DTA was consumed in Q2, on track for the $800M annual target.
Guidance delta
Management maintained its full-year guidance, including the 10–11% ROTCE target and 5–6% NII growth ex-Markets. The guidance was unchanged from Q1. However, analysts flagged that the ROTCE target may be conservative given H1's 13%+ outturn, and raised concerns about H2 Markets seasonality (historically a ~20% revenue decline from H1) and potential expense growth outpacing revenue in the second half.
Key takeaways
- Revenue up 14% YoY — strongest quarterly revenue in a decade, with all five segments posting double-digit growth
- EPS of $3.15 beat consensus by ~15%; ROTCE improved to 13% firm-wide and 30.9% in Services
- CET1 at 12.8%, comfortably above the 11.6% regulatory minimum
- Acquired the American Airlines co-branded credit-card portfolio from Barclays in April, strengthening USPB
- 12% dividend increase and $30B share repurchase program announced
- AI tools now deployed across 90% of staff, driving productivity and faster product rollout
Management priorities
- Accelerate organic investment agenda across AI, technology, and talent in H2
- Pull forward planned 2027 investments to boost near-term returns
- Integrate retail bank with Wealth to drive cross-sell (Citigold referrals up 23%)
- Expand AI tooling across functions to improve client experience and cost efficiency
- Continue DTA reduction (~$500M consumed in Q2, on track for $800M annual target)
- Sustain share repurchase commitments alongside the 12% dividend increase
Related earnings events
Financial ServicesHIG · FY2026 Q2 · Calendar Q3 2026The Hartford Beats on Q2 Core Earnings, Divests Hartford Funds, Expands Buyback to $4.2BAXP · FY2026 Q2 · Calendar Q3 2026AXP Q2 2026: Platinum Card Drives 10% Revenue Growth, Full-Year Guidance RaisedGL · FY2026 Q2 · Calendar Q3 2026Globe Life Q2: Net Income Up 20%, EPS Guidance Raised on AI and Reinsurance Initiatives
Sources
- Earnings call transcript and parsed analysis · 2026-07-14T19:03:22.586727+00:00
- FN2 earnings calendar · 2026-07-28T01:23:15.070317+00:00
- Polygon adjusted daily market bars · 2026-07-28T12:32:06.439204+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-28T12:32:06.436280+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.