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Citigroup: Solid Results Should Help Erase Doubters

Citigroup again turns in solid quarterly results.

The market continues an unwillingness to own the stock despite trading below tangible book value.

The recommendation is continue snapping up the stock as now the bank is able to repurchase shares on the cheap alongside investors.

The Q3'15 results continue to highlight the turnaround in full force at Citigroup (NYSE:C). The large financial institution beat analyst EPS estimates, though the numbers were reduced during the quarter due to the weak market. The top line continues to struggle though it isn't a key part of the investment thesis as the bank reduces assets.

The stock has traded down substantially since a failed breakout during the summer when it appeared Citigroup was headed for much higher prices. At $52, the stock is down nearly $10 from the highs and provides investors with...