Stock Update: Citigroup Inc (NYSE:C)

[BusinessWire] Citigroup Inc (NYSE:C) has announced the implementation of its first RMB Cross-Border Auto Sweeping structure from China to London. The latest development allows Citi to offer live automated RMB cross-border sweeping in China, Hong Kong, Singapore and London.Citi’s global concentration engine allows clients to sweep true end-of-day balances into London without any loss of value.Stock PerformanceTaking a look at the company’s recent performance, Citigroup (C) reported Second quarter earnings for fiscal 2014 on July 14^TH. The company reported actual earnings per share of $1.24 against the consensus Street estimate of $1.10. This represents year over year decline of 0.85%. Citigroup posted revenue of $19.38 billion against estimates of $18.94 billion.Citigroup Inc (C) is currently valued at $ 149.10 billion and closed the last trading session at $19.18. The stock has a 50-day moving average of $48.16 and a 200-day moving average of $49.93.

Is this a Buying Opportunity?There are currently twenty six analysts that we track that cover the stock. Of those twenty six, eleven have a Buy rating; two have strong buy, twelve have a hold rating and one has a Sell rating. On a consensus basis this yields a score of 2.54 and a Buy. The combined price objective of these covering analysts is $56.88, which represents 8.71% upside difference to the last closing price.The most recent analyst activity consisted of JPMorgan Chase & Co. reiterating rating their Neutral stance on the company. JPMorgan Chase & Co. has a price target of $54 which represents an upside of 2.92% from the last closing price. On the date of the report, the stock closed at $52.47.Another research firm weighing in recently was Zacks who also reiterated rating with neutral stance on the stock. On august 27^rd Zacks boosted their price target on the stock to $55.0, or a 6.05% upside to the current price. On the day of the report, C shares closed at $51.86.Company ProfileCitigroup Inc., a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions. The company’s Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services. It offers various banking, credit card lending, and investment services through a network of local branches, offices, and electronic delivery systems. As of December 31, 2013, this segment operated 3,729 branches in 36 countries. The company’s Institutional Clients Group segment provides a range of banking, and financial products and services to corporate, institutional, public sector, and high-net-worth clients.