3. Citigroup Shares of Citigroup closed at $37.72 Monday, returning 44% year-to-date, following a 44% decline during 2011. The shares trade for 0.7 times their reported tangible book value of $52.70, and for eight times the consensus 2013 EPS estimate of $5.30. Of course, the biggest recent news for Citigroup is a change at the top, with CEO Vikram Pandit resigning last Tuesday, being quickly replaced by Michael Corbat who had previously serviced as the company's CEO of Europe, the Middle East and Africa. Corbat also previously headed Citi Holdings, which is the subsidiary holding Citigroup's noncore assets, as they run down, in keeping with Pandit's long-term "good bank/bad bank" strategy to right-size the company's balance sheet and free up capital. Pandit's exit was quite a surprise, coming just one day after Citi announced what most analysts thought was a decent third quarter, with earnings of $468 million, or 15 cents a share, declining from 95 cents during the second quarter, and $1.23 during the third quarter of 2012. Citi's third quarter featured several one-time items, including a $4.7 billion pre-tax loss on the company's sale of a 14% stake in the Morgan Stanley Smith Barney joint venture, and the write-down of its remaining stake in the joint venture, as well as a negative $776 million in debit valuation adjustments, and a $582 million tax benefit. Excluding these items, the company earned $3.3 billion, or $1.06 a share. Citigroup's net interest margin for the third quarter was 2.84%, expanding from 2.76% the previous quarter, but narrowing from 2.95% a year earlier. The company's estimated Basel III Tier 1 common equity ratio was 8.6% as of Sept. 30, increasing from 7.9% in June, as Citi Holdings continued to wind down. Following Corbat's appointment as Pandit's successor, Citigroup Chairman Mike O'Neill hinted that the company's balance sheet reduction -- which should eventually free up enough capital for a significant return to investors though dividend increases and share buybacks -- might accelerated, as the company's board of directors believed "he will place a special emphasis on sharpening the Company's focus on achieving sustained, strong, operating performance." O'Neill also pointed out that Corbat "was the CEO of Citi holdings from its inception, where he managed the wind down of nearly $600 billion of non-core assets." Ramsden's price target for Citigroup's shares is $42, and he estimates the company will earn $4.75 a share in 2013 and $5.25 in 2014. Interested in more on Citigroup? See TheStreet Ratings' report card for this stock.