Banking, finance, and taxes
Bank of America, Citigroup, Wells Fargo and More Bank Earnings Coming This Week
Published:
Last Updated:
Earnings season is just around the corner, and that means the big banks will be leading the way. While some are saying this earnings season isn’t significant (considering the coronavirus headwinds) the fundamentals released will be important in calculating the real impact of the COVID-19 outbreak.
Banks will be central in leading the economic recovery, through small business lending, among other things. The numbers that these institutions post will be an important barometer for what comes next.
24/7 Wall St. has put together a preview of some of the major financial companies kicking off the new earnings reporting season. Markets are fighting back from their lows in March, and banks will be integral to the economic recovery.
For Goldman Sachs and JPMorgan, check out our separate preview of the Dow Jones industrial average stocks reporting this week.
Charles Schwab Corp. (NYSE: SCHW) is scheduled to reveal its first-quarter results before regular trading begins on Monday. The consensus estimates call for $0.63 in earnings per share (EPS), as well as $2.62 billion in revenue. Shares closed trading most recently above $36. The consensus price target is $39.35. The stock has a 52-week trading range of $28.00 to $51.65.
Wells Fargo & Co. (NYSE: WFC) is set to report its first-quarter results before the opening bell on Tuesday. Analysts are calling for $0.59 in EPS and revenue of $19.37 billion. Wells Fargo stock closed above $33, and the consensus price target is $36.95. The 52-week trading range is $25.11 to $54.75.
Watch for Morgan Stanley (NYSE: MS) to release its most recent quarterly results on Wednesday morning. The consensus third-quarter forecast is $1.14 in EPS and $9.89 billion in revenue. Morgan Stanley stock ended the week near $41. The consensus price target is $46.25, and the share price has ranged from $27.20 to $57.57 in the past 52 weeks.
Bank of America Corp. (NYSE: BAC) is reporting first thing Wednesday as well. The consensus estimates are EPS of $0.58 and $22.75 billion in revenue. Shares were changing hands around $25 on last look. The consensus price target is $27.74, and the stock has a 52-week range of $17.95 to $35.72.
And Citigroup Inc. (NYSE: C) is expected to reveal its first-quarter results on Wednesday before the open. The consensus estimates call for $1.56 in EPS, as well as $19 billion in revenue. Citigroup stock was trading most recently above $47. The consensus price target is $64.86. The stock has a 52-week trading range of $32.00 to $83.11.
24/7 Wall St.The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
