Investopedia: Has Citigroup Cleared The Decks, Or Found New Problems?

Something is oddly logical about the performance of Citigroup (NYSE:C) shares over the past year. While this bank clearly is not back to operating on par with banks such as JPMorgan (NYSE:JPM) or U.S. Bancorp (NYSE:USB), it's in better shape than Bank of America (NYSE:BAC) in many respects. Accordingly, its 2012 stock performance seems fair in the context of being about halfway between the "good banks" (which matched or slightly beat the S&P 500) and the "troubled banks" that saw significant share price appreciation.

That's all in the past, however, and investors are now trying to digest a fourth-quarter report that was surprising and disappointing in a few respects. With a new CEO running the show, this may have been a "kitchen sink" quarter designed to sweep away past problems. Still, it raises the specter of future problems and reminds investors that these banks are still not out of the woods.

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