Bove maintains his buy, he's a pretty sharp bank analyst see links below.
First up, a quick hit from Forbes' ETFchannel:
And via IBD:
Rochdale's Dick Bove currently see three key issues with respect to Citigroup (C). The first is put-backs and how much Citi will lose on its mortgage servicing portfolio. This amount could be as much as $5B.
The second issue is asset sales after Bloomberg reported that the bank may sell private equity assets yesterday. Bove regards the fact that there is a market for such assets as being more important than the losses Citi may take on the sale of them.
Lastly, Citi's consumer finance unit is a concern to Mr. Bove as losses are rising.Despite thee issues, Bove continues to like Citi shares, rating them at "Buy".
"Institutions Snapping Up Citigroup" (C)
"Citi: Bove’s Still Bullish; $8.50 in Three Years" (C)
"Ackman Confirms Why Citigroup Could Still Double" (C)
Analyst Audit: Dick Bove of Rochdale Securities on Citigroup (C)
"Citigroup, Bank of America Up Six Times by 2015 Says Dick Bove" (BAC; C)
"Phil Falcone's Harbinger Capital Shows Massive New Citigroup Position: 13F Filing" (C)
I have Dishonored My Ancestors: "JP Morgan, One of the First Big Banks to Report, Is Setting a Bad Precedent" (BAC; C; JPM; WFC)
As we said a couple weeks ago:
...Higher lows for the last two months and just a tad above the 20 and 40 day EMAs are modestly positive.