3 Major Bank Earnings to Watch Tuesday Morning

Banking, finance, and taxes

Published: January 13, 2020 10:50 am

Last Updated: January 30, 2020 11:18 am

A few major banks are reporting their most recent financial results on Tuesday morning. Most of these banks normally report on Friday, but this quarter they are changing it up. In general, financial stocks have performed in line with the markets, with bank stocks outperforming the S&P 500 over the past quarter. While the Federal Reserve was proven to be more hawkish last year, it seems to be taking a fairly neutral stance in 2020.

24/7 Wall St. has put together a preview of some of the major financial companies kicking off the new earnings reporting season. Markets have risen to record highs, and results from these major banks can set the tone for earnings going forward.

Look for other major banks to report later this week, as well as a few Dow stocks.

Citigroup Inc. (NYSE: C) is scheduled to reveal its third-quarter results on Tuesday before the open. The consensus estimates call for $1.84 in earnings per share (EPS), as well as $17.89 billion in revenue. Shares were trading above $79 on Monday. The consensus price target is $89.10. The stock has a 52-week trading range of $55.70 to $81.26.

For Wells Fargo & Co. (NYSE: WFC), the consensus analyst estimates call for $1.12 in EPS and revenue of $20.12 billion. Shares of Wells Fargo were trading near $52, also near the consensus price target of $53.04. The 52-week trading range is $43.34 to $54.75.

The analysts’ consensus estimates for JPMorgan Chase & Co. (NYSE: JPM) are EPS of $2.35 and $27.96 billion in revenue. Shares were changing hands around $136 Monday morning. The consensus price target is $135.33, and the stock has a 52-week range of $98.09 to $141.10.

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