Zacks.com highlights JPMorgan, Wells Fargo, and Citigroup in its earnings preview, focusing on their potential surprises this quarter.
JPMorgan’s shares have dipped a bit since their highs in late November, but they’re still holding up better than some others in the finance sector. Since the elections, they’ve actually gained a little. Wells Fargo is also reporting soon, and Citigroup seems to be doing even better lately.
The overall vibe for these banks is looking up, thanks to a better economic outlook and some relaxed regulations. There’s been chatter about rising treasury yields, which usually means good things for banks. It’s all about the economy growing and more folks wanting to invest.
Loan demand has been a bit slow, but there’s a hint of improvement. The commercial loans are starting to pick up, which is a good sign. Plus, even though bankruptcies are up from the lows during COVID, they’re still below pre-pandemic levels, which is encouraging.
When it comes to investment banking, JPMorgan and its peers are expected to see solid revenue growth. They’re likely to report some impressive numbers soon, with JPMorgan expected to hit $4.02 per share in earnings. Wells Fargo and Citigroup are also looking at positive earnings, with Citigroup seeing a big jump year-over-year.
Overall, the finance sector is gearing up for a busy earnings season, and these banks are set to play a big role. It’ll be interesting to see how they perform and what that means for the market moving forward.
