Why Citigroup (C) Stock Is Up Today

NEW YORK (TheStreet) -- Citigroup  (C) ticked upward Tuesday after CEO Michael Corbat promised to fix regulatory problems that have been plaguing the bank.

Corbat spoke to analysts after the company reported better-than-expected earnings on Monday and CLSA analyst Michael Mayo asked "Is the Fed denial a wake-up call for Citi or not?," according to The Wall Street Journal. "We're wide awake," Corbat replied. He had said earlier, "I want, and I know shareholders deserve, an industrial-strength, permanent solution that paves the way for sustainable capital return over time."

Citigroup reported a 3.8% year-over-year increase in adjusted net income to $4.15 billion. Earnings per share were $1.30, a penny greater than in the same period one year earlier. Book value per share rose 6% to $66.25. Revenue dipped 2% year over year to $20.1 billion, excluding CVA/DVA adjustments.

Analysts polled by Thomson Reuters expected net income of $1.14 a share on revenue of $19.37 billion.

The stock was up 0.55% to $47.93 at 10:23 a.m. on Tuesday.

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Separately, TheStreet Ratings team rates CITIGROUP INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CITIGROUP INC (C) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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