This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Citigroup: Financial Winner

NEW YORK (TheStreet) -- Citigroup (C) was the winner among the largest financial names on Wednesday, with shares rising 2.5% to close at $51.34.

Bank stocks led the market again, as the KBW Bank Index (I:BKX) rose over 1% to close at 60.51, with all but one of the 24 index components ending the session with gains

The Dow Jones Industrial Average S&P 500 (SPX.X) each pushed further into record territory, after stronger-than-expected housing numbers offset a disappointing report on manufacturing activity.

The National Association for Home Builders said its Housing Market Index, prepared in cooperation with Wells Fargo, rose by three points to a reading of 44, increasing from a downwardly revised reading of 41 in April. The industry group said the higher reading during May "reflected improvement in all three index components - current sales conditions, sales expectations and traffic of prospective buyers."


Economists polled by Thomson Reuters had on average expected a May reading of 43 for the Housing Market Index.

"While industry supply chains will take time to re-establish themselves following recession-related cutbacks, builders' views of current sales conditions have improved and expectations for the future remain quite strong as consumers head back to the market in force," said NAHB Chief Economist David Crowe.

Still, a Housing Market Index reading below 50 indicates that a majority of builders view market conditions as poor.

The Federal Reserve on Wednesday said that U.S. industrial production declined by 0.5% during April after having increased by 0.3% in March and 0.9% in February. Economists expected a smaller decline in production of just 0.1% in April. Total industrial production during April was 1.9% above the level a year earlier.


Citigroup

Citi's shares have returned a remarkable 30% this year, following a 51% return during 2012. The shares trade for just below their reported March 31 tangible book value of $52.35, and for 9.7 times the consensus 2014 earnings estimate of $5.32, among analysts polled by Thomson Reuters. The consensus 2013 EPS estimate is $4.71.

C ChartC data by YCharts

Interested in more on Citigroup? See TheStreet Ratings' report card for this stock.


-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs