Keefe, Bruyette & Woods Raises Estimates On Citigroup

According to Keefe, Bruyette & Woods, Citigroup C reported operating earnings of $0.88 per share, which was above the $0.85 estimate but below consensus of $0.96. Keefe, Bruyette & Woods said that the variance to the estimate was primarily related to a $0.43 per share beat in revenues partially offset by a $0.41 miss in expenses and provision. “Based on the top line trends, we are raising our estimates.” Citigroup closed yesterday at $38.38.