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Shares of Citigroup Inc. (C - Analyst Report) crafted a new 52-week high, touching $48.05 in the second half of the trading session on May 6. The closing price of this Wall Street biggie represents a solid year-to-date return of 15.2%. The trading volume for the session was 29.1 million shares.

Despite hitting its 52-week high, this Zacks Rank #3 (Hold) stock has plenty of upside left, given its strong estimate revisions over the last 30 days and expected year-over-year earnings growth of 22.1% for 2013.

Growth Drivers

Impressive first-quarter 2013 results – including an earnings surprise of 9.3% and overall credit quality improvement – as well as approval of the capital plan under 2013 Comprehensive Capital Analysis and Review (CCAR) were the primary growth drivers for Citigroup.

On Apr 15, Citigroup reported its first-quarter earnings per share of $1.29, beating the Zacks Consensus Estimate of $1.18 by 9.3% and the year-ago earnings of $1.11 by 16%. The year-over-year growth was primarily driven by higher revenues and lower loan loss provisions.

Moreover, Citigroup has now delivered positive earnings surprises in 3 of the last 4 quarters with an average beat of 1.5%.

Estimate Revisions Show Potency

Over the last 30 days, 5 of the 18 estimates for 2013 have been revised upward, lifting the Zacks Consensus Estimate by 0.6% to $4.71 per share. For 2013, 9 of the 18 estimates moved north, helping the Zacks Consensus Estimate advance 0.4% to $5.44 per share.   

Some better performing banks include Fifth Third Bancorp (FITB - Analyst Report), JPMorgan Chase & Co. (JPM - Analyst Report) and State Street Corporation (STT - Analyst Report). All these carry a Zacks Rank #2 (Buy).

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