Citigroup Inc. (NYSE: C) is scheduled to report its fourth-quarter financial results before the markets open on Friday. The consensus estimates from Thomson Reuters call for $1.05 in earnings per share (EPS) on $17.87 billion in revenue. The same period from the previous year had $0.06 in EPS and $17.80 billion in revenue.

The stock is very cheap, trading at just 7.96 times estimated 2016 earnings, and it is the nation’s fourth-largest bank by assets. Merrill Lynch sees the dividend growing from the current 0.4% and notes that Citi is the only U.S. universal bank trading below book value.

Numerous Wall Street analysts cite that Citigroup will be a leader in buyback payouts to shareholders. Combined with the bank’s strong domestic and international business, and a better overall economy, plus the headline risk over bank stress tests being removed, share purchases look wise here.

Jefferies recently upgraded the stock to Buy and points out that it sees the tangible book value growing 14% by this time next year. Citigroup reported softer earnings in its third quarter.

A few analysts weighed in on Citigroup ahead of the earnings report:

• Nomura has a Buy rating and raised its price target to $67 from $66.
• Deutsche Bank reiterated a Hold rating with a $57 price target.
• Oppenheimer has a Market Perform rating and lowered its price target to $73 from $74.

So far in 2016, Citigroup is more or less in line with the broad markets, as the stock is down over 12%. Over the course of the past 52 weeks, the stock is down just over 9%.

Shares of Citigroup were trading at $45.20 on Thursday, with a consensus analyst price target of $63.63 and a 52-week trading range of $44.57 to $60.95.

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