Much-maligned Citigroup (NYSE:C) stock has rallied more than 40% off of its 52-week low. However, even after this rally, there’s still plenty of room for additional upside. I’m bullish on shares of the fourth-largest bank in the United States based on its incredibly cheap valuation, above-average dividend yield, and the steady progress the company is making on reducing expenses. Furthermore, several highly-regarded value investors have positions in the stock and seem to support management and its turnaround plans.Signs That a Turnaround Is UnderwayCitigroup stock won’t be winning many popularity contests any time soon. While there were plenty of ups and downs, the stock has treaded water over the past five years, ultimately remaining flat during a time frame in which the broader market has surged. Part of the reason for this lackluster performance is that the bank has produced disappointing results. Citigroup’s…
