Earnings season ramps up in full gear this week kicked off by quarterly financial results from some of the biggest publicly traded U.S. banks Tuesday and Wednesday.
Here’s a look at the big banks set to repot this week, their 2026 performance and recent history.
• Wells Fargo stock is holding steady today. Where are WFC shares going?
Big Bank Earnings Reports
Six big banks report quarterly financial results this week and five of the banks have something in common: a recent record of beating analyst estimates for earnings per share and revenue.
That recent history has translated into stock performance with the one laggard down year-to-date.
The six big bank stocks reporting this week are:
- Citigroup Inc (NYSE:C): Tuesday before market open
- Goldman Sachs Group Inc (NYSE:GS): Tuesday before market open
- JPMorgan Chase & Co (NYSE:JPM): Tuesday before market open
- Bank of America Corp (NYSE:BAC): Tuesday before market open
- Wells Fargo & Co (NYSE:WFC): Tuesday before market open
- Morgan Stanley (NYSE:MS): Wednesday before market open
“While it’s been a mixed year for the financial sector overall, many of the large banks have been thriving,” Freedom Capital Markets Chief Market Strategist Jay Woods said in a weekly newsletter.
The laggard to Woods is Wells Fargo, with shares down 6.5% year-to-date.
“Morgan Stanley, Goldman Sachs and Citi have all gained over 20% as trading revenue and an improving IPO landscape have helped fuel their returns. JPMorgan and Bank of America have started to rally.”
Earnings History
A look at the earnings history on Benzinga Pro shows that several big bank stocks have consistently beaten analyst estimates. Here is a look at each of the six big bank stocks and how they have performed versus analysts’ estimates for earnings per share and revenue over the past 10 quarters.
- Citigroup: Beat earnings per share estimates 10 straight, Beat revenue eight of last 10 (one straight)
- Goldman Sachs: Beat earnings per share estimates 10 straight, Beat revenue nine of last 10 (one straight)
- JPMorgan: Beat earnings per share estimates 10 straight, Beat revenue 10 straight
- Bank of America: Beat earnings per share estimates 10 straight, Beat revenue eight of past 10 (three straight)
- Wells Fargo: Beat earnings per share estimates nine of last 10 (zero straight), Beat revenue five of last 10 (zero straight)
- Morgan Stanley: Beat earnings per share estimates 10 straight, Beat revenue 10 straight
Recent earnings success and, in the case of Wells Fargo, failures may translate best to stock performance this year. Here is the year-to-date performance as of Friday:
- Citgroup: +20.7%
- Goldman Sachs: +20.0%
- JPMorgan: +4.4%
- Bank of America: +8.5%
- Wells Fargo: -6.5%
- Morgan Stanley: +25.2%
One of the two stocks that has beaten both earnings per share and revenue in all 10 of the past 10 quarters is the top performer, while the company that has missed estimates the most times over the past 10 quarters is the biggest underperformer.
Key Items to Watch
The performance by the big bank stocks this week could have a significant impact on the financials sector and also point to overall economic conditions for the U.S.
“Will higher for longer interest rates continue to support lending profits? Will a surge in IPOs and M&A activity supercharge Wall Street trading desks?” Woods asks in the newsletter.
Woods said what the banking company leadership says about the health of the consumer and the economy could be key items to watch this week.
“If the banks paint an optimistic picture while credit quality remains strong, it could reinforce the narrative that the economy is proving far more resilient than many expected. This could provide a needed tailwind for equities as earnings season gets underway.”
The six stocks make up 30.4% of the State Street Financial Sector ETF (NYSE:XLF).
Goldman Sachs and JPMorgan are also members of the Dow Jones Industrial Average Index, with Goldman Sachs the top holding in the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) at 11.9% of assets and JPMorgan 11th at 3.8%.
Together, the two stocks make up 15.7% of the Dow Jones Industrial Average tracking ETF.
Image via Shutterstock
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