Citigroup (C) reported it’s quarterly earnings this morning, beating expectations on both revenue and earnings. The share price is up some 2% in premarket trading as I type this and has given stock futures an early lift.
The stock price has been under some selling pressure this year, down 11% year to date and 17% off it’s 52 week high. On Friday it made a new low for 2014 and was getting close to it’s 52 week low at $44.06 (horizontal line).
Taking a look at the year to date performance of the largest nine banks in the financial sector, we can see some lag in both Citi and Goldman Sachs while Wells Fargo and Berkshire Hathaway showing some relative strength.