Citigroup: Financial Winner

NEW YORK ( TheStreet) -- Citigroup ( C) was the winner among big financial names Tuesday, with shares rising over 5% to close at $27.84.

Citigroup will announce its third-quarter financial results on Monday. The consensus among analysts polled by FactSet is for the company to report third-quarter earnings of 84 cents a share.

The broad indexes were mixed as it appeared that local resistance in Slovakia would at least delay the country's ratification of the July 21 agreement to expand the European Financial Stability Facility. Slovakia is the last of 17 euro members needed to approve the agreement.

The KBW Bank Index ( I:BKX) 1% to close at 37.70, on a mixed day for financial sector names.

The U.S. Treasury Department, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. set up a major financial services industry battle, by releasing a proposal to implement the Volcker Rule, which would ban banks from running hedge funds, making private equity investments and short-term proprietary trading, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law by President Obama last July.

With vague language in the proposal over just what the terms "short-term" and "proprietary trading" mean, the 90-day public comment period before the rules are finalized, promises to be a very busy one for the banks, the regulators and members of Congress

Shares of Zions Bancorporation ( C) rose 2% Tuesday to close at $16.64. The Salt Lake City lender is set to report its third-quarter results next Tuesday, and analysts polled by FactSet estimate the company will report earnings of 32 cents a share.

Large U.S. banks seeing shares rise 2% included BB&T ( BBT), which closed at $22.41; Comerica ( CMA), closing at $25.32; and KeyCorp ( KEY), closing at $6.60.

Shares of Bank of America ( BAC) rose over 1% to close at $6.37. The nation's largest bank will report its third-quarter results next Tuesday. Analysts are expecting the company to post third-quarter EPS of 26 cents.

Tuesday's sector loser was U.S. Bancorp ( USB), with shares declining over 2% to close at $23.88.

RELATED STORIES:










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

To contact the writer, click here: Philip van Doorn.

To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

More from Investing

Sarepta Shares Keep Climbing and PTC Therapeutics Bounces Back

Sarepta Shares Keep Climbing and PTC Therapeutics Bounces Back

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

What Will GM Do With Cruise -- and Is Its Stock Worth $55?

How to Make a Fortune Like Microsoft Billionaire Founder Bill Gates

How to Make a Fortune Like Microsoft Billionaire Founder Bill Gates

SEC Says Bitcoin and Ether Are Not Securities -- but Prices Stay Bearish?

SEC Says Bitcoin and Ether Are Not Securities -- but Prices Stay Bearish?