NEW YORK (TheStreet) -- Shares of Citigroup Inc (C) are declining, lower by 0.29% to $53.87 in late afternoon trading Monday, following reports that the bank may plead guilty to an antitrust charge, according to Reuters.
Citigroup has been under investigation by the Department of Justice for its dealings in foreign exchange markets.
The company is one of six major banks that have been under investigation by global authorities, for trying to manipulate rates in the $5 trillion a day foreign exchange market, Reuters added.
The related fine for Citigroup would likely not exceed $1 billion, according to Bloomberg.
Citigroup maintains its estimated potential unreserved litigation costs at $4 billion, Reuters noted.
New York City-based Citigroup is a financial services holding company engaged in providing financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
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 some important positives, 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 increase in net income, solid stock price performance, growth in earnings per share and expanding profit margins. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."