Banking, finance, and taxes
Bank of America, Citigroup, Morgan Stanley, Wells Fargo and More Major Banks Reporting This Week
Published:
Last Updated:
A handful of the major banks are reporting their most recent financial results this coming week to kick off the new earnings season. Most of the financial stocks sampled here have outperformed the markets, despite the tumultuous China trade war. Also, the Federal Reserve is taking more of a neutral position on the question of interest rates, which could allow for these firms to grow from here.
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.
Also check out our Dow Jones industrials earnings preview for what to expect from Goldman Sachs and JPMorgan, as well as others.
Citigroup Inc. (NYSE: C) is scheduled to reveal its fourth-quarter results on Tuesday before the open. The consensus estimates call for $1.84 in earnings per share (EPS) and $17.89 billion in revenue. Shares were trading below $80 on Friday. 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. Earnings are expected on Tuesday morning as well. Shares slipped below $53 on Friday, which is in line with the consensus price target of $53.04. The 52-week trading range is $43.34 to $54.75.
Bank of America Corp. (NYSE: BAC) is set to report on Wednesday morning. The analysts’ consensus estimates call for EPS of $0.68 and $22.38 billion in revenue. Shares were changing hands shy of $35 on Friday. The consensus price target is $36.74, and the stock has a 52-week range of $25.46 to $35.72.
PNC Financial Services Group Inc. (NYSE: PNC) earnings are scheduled for Wednesday before the opening bell. The consensus forecast calls for $2.93 in EPS on revenue of $4.48 billion. Shares retreated from $161 on Friday, and the analysts’ mean price target is $163.00. The 52-week trading range is $117.17 to $161.79.
Charles Schwab Corp. (NYSE: SCHW) earnings are scheduled early on Wednesday. The consensus analyst estimates call for $0.63 in EPS and revenue of $2.6 billion. Shares were trading below $48, still not far from the consensus price target of $53.17. The 52-week trading range is $34.58 to $51.65.
And watch for Morgan Stanley (NYSE: MS) to release its most recent quarterly results on Thursday morning. The consensus fourth-quarter forecast is $1.03 in EPS and $9.77 billion in revenue. Shares ended the week just shy of the 52-week high. The consensus price target is $57.00, and the share price has ranged from $38.76 to $52.38 in the past year.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
