Citigroup shares close higher on Friday, Susan Kendall appointed as CFO of Citi’s Global Consumer Bank

May 13, 2019 9:38 am

Last week Citigroup Inc (C) announced that Susan Kendall, who currently serves as head of investor relations, had been appointed as Chief Financial Officer of its Global Consumer Bank division.

Citigroup shares closed higher for the sixth time in the past eleven trading sessions in New York on Friday. The stock went up 0.40% ($0.27) to $67.90, after touching an intraday high at $68.10, or a price level not seen since May 8th ($68.85).

Shares of Citigroup Inc have risen 30.43% so far in 2019 compared with a 14.94% gain for the benchmark index, S&P 500 (SPX).

In 2018, Citigroup’s stock went down 30.04%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

Susan Kendall is expected to report directly to Citi’s Chief Financial Officer, Mark Mason. The new appointment will take effect on June 15th, Citi said.

”We are pleased to welcome her to the team as momentum continues to build in the Global Consumer Bank,” Stephen Bird, Chief Executive Officer of Citi’s Global Consumer Bank, was quoted as saying by Reuters.

Meanwhile, a search for a new investor relations head will be in progress shortly, while Elizabeth Lynn will be interim head of investor relations, the bank said.

According to CNN Money, the 26 analysts, offering 12-month forecasts regarding Citigroup Inc’s stock price, have a median target of $79.50, with a high estimate of $105.00 and a low estimate of $51.00. The median estimate represents a 17.08% upside compared to the closing price of $67.90 on May 10th.

The same media also reported that 19 out of 29 surveyed investment analysts had rated Citigroup Inc’s stock as “Buy”, while 5 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Weekly Pivot Levels

By using the traditional method of calculation, the weekly levels of importance for Citigroup Inc (C) are presented as follows:

Central Pivot Point – $68.33
R1 – $70.24
R2 – $72.57
R3 – $74.48
R4 – $76.38

S1 – $66.00
S2 – $64.09
S3 – $61.76
S4 – $59.42

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