What happened The stock market was having a modestly negative day on Friday, with the Dow Jones Industrial Average and S&P 500 both down by less than 1% at 11:10 a.m. EST. However, large-cap bank stock Citigroup (NYSE: C) was a major underperformer, with shares down by 5% for the day. So what The short explanation for today's move is that Citigroup just reported its fourth-quarter earnings, and investors don't seem too impressed. Image source: Getty Images. While Citigroup's earnings surpassed analyst expectations, it was due to an unexpected $1.5 billion reserve release more than the bank's actual business performance. On the top line, revenue dropped by 10% from the fourth quarter of 2019. However, the news wasn't all bad. Citigroup's book value per share grew 4% year over year. The bank's deposits grew by 20% from the same time last year, as Americans saved money at historically high rates during the pandemic. Retail loans grew by 4% year over year, and Citi's credit card business saw purchase volume rise 12% from the third quarter, indicating a nice rebound in consumer spending. On the investment banking side, trading revenue (which has been a strong point throughout the pandemic) was up 13% year over year. However, investment banking revenue declined by 5% due to lower mergers and acquisitions advisor revenue and a slowdown in debt underwriting. Now what To sum it up, Citigroup had a good, but not great fourth quarter. And it's also worth pointing out that even after today's drop, shares of the bank are up by nearly 60% from the beginning of November, so I wouldn't be too concerned about the relatively slight pullback. 10 stocks we like better than CitigroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Citigroup wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Matthew Frankel, CFP has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source