It's probably too much to hope that money center banks like
Bank Of America (NYSE:
BAC) or
Citigroup (NYSE:
C)
will ever report completely clean quarters (as there are just too many
moving parts), but it seems like it's always something with Citi. While
third quarter results looked OK on the surface, there still isn't much
sustainable momentum behind the numbers and it's hard to feel great
about the company with now-former
CEO Vikram Pandit stepping down.
One
quarter ago, I did think that Citi was a good pick for aggressive
investors, and the stock has climbed nearly 40% since then. Given where
valuation is now relative to others such as
JPMorgan (NYSE:
JPM),
Wells Fargo (NYSE:
WFC) and
U.S. Bancorp (NYSE:
USB),
the potential disruptions from the leadership transition and the
underlying momentum, I'd be less inclined to buy this stock over some of
those other high-quality banks.
Please read the full article here:
http://www.investopedia.com/stock-analysis/2012/There-Are-Always-Clouds-In-Citigroups-Sky-C-BAC-JPM-WFC1016.aspx
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