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The Look Ahead: July 8th - 12th, 2024

Upcoming Earnings Watch: Week of July 8 - 12, 2024

This Friday marks a significant day for the financial sector as three major U.S. banks are set to report their quarterly earnings. Wells Fargo, JP Morgan Chase, and Citigroup will provide insights into the health of the banking industry and the broader economy. Here's what investors should keep an eye on:

Friday, July 12th

Wells Fargo (WFC) - ★★★

  • Ranked #74 in Q3 2024 Large Cap Equity Rankings

  • Earnings per share (EPS) estimate: $1.28

  • Key indicators to watch: • Net interest income and net interest margin, given recent interest rate trends • Progress on cost-cutting initiatives and efficiency ratio • Credit quality metrics, including loan loss provisions and net charge-offs • Updates on regulatory compliance and efforts to lift the asset cap imposed by the Federal Reserve

JP Morgan Chase (JPM) - ★★★★

  • Ranked #46 in Q3 Large Cap Equity Rankings

  • Earnings per share (EPS) estimate: $4.55

  • Key indicators to watch: • Investment banking revenue, particularly in M&A and equity underwriting • Trading revenue, especially in fixed income and equities • Performance of the consumer banking segment, including credit card spending trends • Updates on the integration of First Republic Bank, acquired earlier this year • Commentary on economic outlook and potential impact on future performance

Citigroup (C) - ★★★★

  • Ranked #30 in Q3 Large Cap Equity Rankings

  • Earnings per share (EPS) estimate: $1.40

  • Key indicators to watch: • Progress on strategic reorganization and cost reduction plans • Performance of international consumer banking operations • Trends in institutional clients group, including trading and investment banking • Updates on the wind-down of operations in certain international markets • Asset quality metrics and loan loss reserves

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The information provided in this report is for general informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. The opinions expressed in the report are our own and are subject to change without notice. We may have a position in the securities mentioned in the report, and we may buy or sell such securities without notice. Any investment decisions made based on the information in this report are solely the responsibility of the recipient. We do not accept any liability for any direct, indirect, or consequential loss arising from any use of this report or its contents.


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