5 Must-See Bank Earnings Charts
The first quarter earnings season is here. As always, several big banks, including JPMorgan Chase, will kick it off. Over the last few years, not many paid much attention to the bank earnings reports. But that will not be the case this week.
After the failure of Silicon Valley Bank and Signature Bank in March 2023, investors have been wondering about all the others. Do they have problems too?
This week, three out of the four, “too-big-to-fail” banks, will report earnings. Additionally, the first of many regional banks will also report earnings. The regional bank, PNC Financial Services Group, may be even more important than any of the others.
What will these 5 banks tell us in their earnings reports and on their conference calls?
5 Must-See Bank Earnings Charts
1. JPMorgan Chase (JPM)
JPMorgan Chase has beat 2 out of the last 4 quarters. It has missed just 4 times in the last 5 years, however. That’s a solid earnings surprise track record given that there was a pandemic during those 5 years.
Shares of JPMorgan Chase are down 4.2% year-to-date. It’s cheap on a P/E basis, with a forward P/E of 10.
JPMorgan Chase’s CEO is Jamie Dimon, long considered one of the leaders of the banking industry.
Will you be tuning into the conference call to hear what Dimon has to say?
2. Citigroup, Inc. (C)
Citigroup has an outstanding earnings surprise track record. It has only missed once in the last 5 years and it was last quarter. Now that the streak is broken, will we see more red this quarter or will it bounce back to its prior form?
Citigroup shares are up 3.7% year-to-date. It also pays one of the highest dividends among the big American banks with a yield of 4.4%.
Should you have Citigroup on your watch list?
3. Wells Fargo & Company (WFC)
Wells Fargo has beat 3 out of the last 4 quarters. It has also put together a nice beat streak since the start of 2021, with just one miss in that period.
Shares of Wells Fargo have fallen 5.1% year-to-date. It’s cheap with a forward P/E of just 8.4.
Is it time to consider Wells Fargo again?
4. The PNC Financial Services Group, Inc. (PNC)
The PNC Financial Services Group has an excellent earnings surprise track record. It has only missed 3 times in 5 years but one of those was last quarter.
Shares of PNC Financial Services Group have fallen 24.2% year-to-date as the regional banks are getting hit harder than the “too-big-to-fail” banks. But it’s cheap, with a forward P/E of just 8.6.
Will PNC Financial Services Group, headquartered in Pittsburgh, soothe investor jitters this week?
5. Bank of America (BAC)
Bank of America has only missed 3 times in the last 5 years. However, one of those misses was last year.
Bank of America is one of the weaker big banks. Shares are down 14% year-to-date and are near 52-week lows. It’s cheap with a forward P/E of 8.7.
Bank of America reports earnings next week, on Apr 18. Is it oversold heading into this earnings report?
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bank of America Corporation (BAC) : Free Stock Analysis Report
Wells Fargo & Company (WFC) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Citigroup Inc. (C) : Free Stock Analysis Report
The PNC Financial Services Group, Inc (PNC) : Free Stock Analysis Report
