Citi stock forecast
Citi's weighted price is $127.77 in October 2027, rising to $164.73 in October 2029. Citi's outcome hinges on durable fee growth, falling comparable costs and better RoTCE validating its recovery.
Where could Citi's shares be by 2029?
The forecast sees limited one-year upside but stronger potential if Citi delivers its recovery plan. The probability-weighted price is $127.77 in October 2027, representing a 5% total return with dividends. It rises to $144.28 in October 2028, a 20% return, and $164.73 in October 2029, a 39% return.
The three-year outcome spans $116.26 in the bear case to $222.19 in the bull case, against today’s $124.53. The probabilities are 28% bear, 52% base and 20% bull.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 28% | 99.15 (-18%) | 104.91 (-12%) | 116.26 (-1%) |
| Base | 52% | 135.90 (+11%) | 151.15 (+26%) | 168.74 (+42%) |
| Bull | 20% | 146.72 (+20%) | 181.56 (+50%) | 222.19 (+86%) |
| Weighted | 100% | 127.77 (+5%) | 144.28 (+20%) | 164.73 (+39%) |
What this means. The weighted row is the probability-based average of the bear, base, and bull cases, not a separate possible outcome.
What has to go right, and what could go wrong for Citi?
The bear case falls to $186.85 billion before recovering modestly, because weaker activity, control costs and additional credit losses overwhelm retained earnings. The bull case reaches $225.85 billion as Services, Wealth and transformation savings lift earnings. Citi targets RoTCE of roughly 11%–13% for 2027–2028 and 14%–15% over the medium term, which supports the base and bull earnings paths but does not guarantee them.
How much cash does Citi really make and give back?
Free cash flow works poorly for a bank because deposits and loans are part of the product. A deposit brings in cash but creates an obligation to repay. A loan uses cash but creates an earning asset. Neither movement alone proves that money is available for distribution.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| EPS, diluted | 6.99 | 5.95 | 4.04 | 7.11 | 10.14 |
| − Dividends, per share | 2.32 | 2.17 | 2.08 | 2.05 | 2.05 |
| − Share buybacks, per share | 7.07 | 1.28 | 1.01 | 1.65 | 3.71 |
| = Kept, per share | 2.55 | 1.01 | 3.44 | 4.44 | |
| = Paid out more, per share | 2.35 |
What this means. In 2025, the company paid shareholders more than it earned because dividends and share buybacks together exceeded its profit per share.
What does an investor pay for Citi today?
P/E, or price-to-earnings, tells investors how much they pay for each dollar of profit per share. Citi’s trailing P/E is 12.1x, while its forward P/E is 9.7x. If the share price stays unchanged, that gap implies expected earnings per share will rise by roughly 25%.
| Today (Oct 14, 2026) | |
|---|---|
| Share price | 124.53 |
| P/E, last 12 months (calculated) | 12.1x |
| P/E, next 12 months (calculated) | 9.7x |
| Price to book (calculated) | 1.1x |
| Price to tangible book (calculated) | 1.2x |
| Dividend yield (calculated) | 2.2% |
What this means. The next-12-month price-to-earnings number uses analysts’ predicted profit, so it can change if their prediction is wrong.