Citigroup stock traded down more than 2 percent after hours, but Dan Nathan of RiskReversal.com said that it wasn't worth buying.
The bank reported quarterly earnings Oct. 14 but lowered its net income to $2.8 billion from $3.4 billion, lowering earnings per share to 88 cents from $1.07, on legal costs.
"I think you want to let these things wash out a little bit," Nathan said, adding that investors should wait to see what other legal liabilities could arise. "I don't think you jump right in right here."
On CNBC's "Fast Money," Tim Seymour of Triogem Asset Management said there was support for the stock around the $47 to $49 levels.