Citigroup: Financial Winners & Losers

NEW YORK (TheStreet) -- Citigroup (C Quote) was among the winners of the financial sector Friday following a report that the bank was nearing a $1.1 billion sale of its Japan telemarketer property.

Citigroup was rising by nearly 1% after Reuters reported that the bank is close to finalizing a $1.1 billion sale of Japan's largest telemarketer, Bellsystem24, to private equity firm Bain Capital.

Final details are being worked out and an official announcement is likely to be made within days, the report said, citing people familiar with the situation. Citigroup was lately up 3 cents, or 0.7%, to $4.09.

Elsewhere, U.S. Bancorp (USB Quote) lost ground after Rochdale Securities analyst Dick Bove said the bank continues to strengthen its balance sheet but must do better in controlling loan losses.

"The bank has provided data to show that it is in better condition from an asset quality standpoint relative to its peers, but its loan quality is still eroding and this could create problems with the expansion program and the bank's success in building its balance sheet strengths," Bove wrote in a research note. U.S. Bancorp shares were giving back 1.5% to $23.65.

On the other hand, shares of Fifth Third Bancorp (FITB Quote) were on the rise even after Bove argued that the bank is facing some relatively severe problems that must be overcome.

"In sum, a good management is dealing with some very difficult problems," Bove wrote, noting that Fifth Third operates in the Midwest and Florida, two of the hardest hit areas.