Analysts polled by Thomson Reuters expect the third largest bank to report an earnings per share of $1.18, up from $1.11 a year ago, on revenues of $20.13 billion.
Citi is another restructuring play for bank investors. Under new CEO Mike Corbat, the bank has a razor sharp focus on expenses and is laying off 11,000 employees, shutting branches and exiting or winding down its presence in several unprofitable markets.In a recent investor presentation, Corbat unveiled new performance targets for Citi, including a plan to achieve a return on tangible common equity of 10% by 2015, rising from an adjusted return of 7.9% in 2012. Analysts will be monitoring the bank's progress against those measures, though it is still early days. Citigroup fared well in the Federal Reserve's March stress test, posting among the highest capital ratios in the regulator's hypothetical severely adverse scenario. Analysts saw this as a sign that the bank had made progress in de-risking its balance sheet
The bank requested permission to buy back $1.2 billion in stock in 2013, a lowball number, as it sought to avoid the embarrassment of a rejection from the regulator. However, analysts expect Citi to return significant capital starting in 2014. Shares trade at 0.83 times tangible book value. Citigroup reports April 15.