Citigroup (NYSE: C) Shares Fail to Stay above $5.00 Mark

Citigroup’s (NYSE: C) surprise $4.4 billion profit wasn’t quite enough to keep its shares above $5.00 ending last week.

Although Citigroup’s stock price hit above the $5.00 mark twice during the week, on Tuesday and on Wednesday, the stock pulled back below into the $4.00 range before the  closing bell. Friday followed a similar pattern, hitting as high as $4.95 on early trading, but finished down for the day at $4.86.

The company’s stock price has not managed to finish above $5.00 since the middle of October 2009.

Despite the dip from the $5.00 mark, shares of Citigroup (NYSE: C) remained up by about 7% for the week and interest from investors has remained extraordinary with more than 5.3 billion shares being traded by investors through the close of the market bell on Friday.

Last week proved to be a pivotal point for Citigroup releasing it first quarter earnings report and hosting its annual share holders meeting. Citigroup proved with its first quarter performance numbers that it’s keeping up with rivals Wells Fargo, JPMorgan and Bank of America, even though its restructuring process continues and its selling off many assets.

Citigroup also held its fixed income investor review for the first quarter on Friday. The company’s short-term borrowings dropped from $131 billion during the fourth quarter to $97 billion during the first quarter of 2010. Citigroup also said that it would like issue about $15 billion worth of long-term debt this year. Citigroup began an offer for $1.1 billion in subordinated notes on Friday.