The major U.S. banks are gearing up to announce their quarterly earnings tomorrow, October 14. This includes industry giants JPMorgan Chase (JPM), Wells Fargo (WFC), and Citigroup (C). Investors and analysts eagerly await these reports to gauge their financial health and market performance.
JPMorgan Chase’s Q3 Earnings
JPMorgan Chase, the largest bank by market capitalization, will unveil its third-quarter results before the market opens. Analysts predict an earnings per share (EPS) of $4.85, with total revenues expected to reach $45.47 billion.
Wells Fargo’s Financial Update
Wells Fargo is also set to release its quarterly earnings on the same day. For Q3, analysts forecast an EPS of $1.55, reflecting a 9% increase year-over-year. However, revenues are projected to decrease to $21.15 billion, a decline of 50% compared to the previous year.
Wells Fargo Stock Insights
- Year-to-date stock performance: +12%
- Analyst consensus: Moderate Buy (11 Buys, 5 Holds)
- Average price target: $89.00, implying a 14.66% upside potential
Citigroup’s Q3 Performance Expectations
Citigroup is expected to report a 15% increase in EPS to $1.73, with revenues estimated at $21.09 billion. The recent announcement of a 25% stake sale in its Banamex unit to Fernando Chico Pardo has heightened interest among investors.
Citigroup Stock Outlook
- Year-to-date stock performance: +36.3%
- Analyst consensus: Moderate Buy (13 Buys, 5 Holds)
- Average price target: $108.33, indicating a potential upside of 15.33%
Comparative Analysis
Using the TipRanks Stock Comparison Tool, Citigroup shows the highest upside potential at 15.3%, followed by Wells Fargo at 14.7%. JPMorgan Chase’s potential stands at 9.7% from current levels.
With these earnings reports, the financial landscape for these major banks will be clearer, offering insights into their operational efficiencies and market positioning.
