Financial Winners and Losers: Citigroup

(Updated with final stock price moves throughout.)

NEW YORK (TheStreet) -- Financial stocks finished mixed Monday, with Citigroup (C Quote) among the losers after the bank said it completed an exchange of preferred stock for common shares.

Citigroup said about $20.3 billion of publicly held convertible and non-convertible preferred and trust preferred securities were validly tendered in exchange for common stock.

Citigroup said Sunday this represents 99% of the value of the securities it was offering to exchange. The bank will issue 5.83 billion common shares to the public exchange offer participants.

Citigroup said on Thursday it completed a $12.5 billion exchange that swapped preferred securities held by private debt holders for interim securities and warrants that will eventually be converted into common stock. The government carried out a separate exchange, swapping $12.5 billion of its preferred shares in the bank for securities and warrants as well.

Citi shares retraced some of their earlier losses but ultimately finished down 4 cents, or 1.5%, to $2.69.

Among other bank stocks, Bank of America (BAC Quote) climbed 4.6% to $13.09, Wells Fargo (WFC Quote) was higher by 3.2% to close at $24.22, and JPMorgan Chase (JPM Quote) shares tacked on 0.6% to $38.13.

On the other hand, Goldman Sachs (GS Quote) fell 0.5% to end the day at $163.87, while Morgan Stanley (MS Quote) slipped 0.7% to $28.05.

On the earnings front, Bank of Hawaii (BOH Quote), PrivateBancorp (PVTB Quote) and Old National Bancorp (ONB Quote) all reported quarterly results that exceeded the Thomson Reuters average estimate for earnings per share.

In its second-quarter report, Bank of Hawaii said it earned 65 cents a share, a nickel better than the Thomson Reuters average estimate. PrivateBancorp surprised analysts with earnings of 6 cents a share. Analysts had forecasted a loss of 5 cents a share. Meanwhile, Old National posted second-quarter earnings of 15 cents a share, 9 cents better than estimates.