Citi Is Top Bank Pick as Earnings Season Kicks Off — Profits Set to Jump Up to 20%

Citi Is Top Bank Pick as Earnings Season Kicks Off — Profits Set to Jump Up to 20%

Wall Street’s biggest banks start reporting earnings this week, with analysts predicting a 15% to 20% profit surge driven by strong trading and loan growth, and Wells Fargo naming Citigroup as its top pick.

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Major U.S. banks are set to release their quarterly earnings within hours of each other this week, with five of the six largest lenders—JPMorgan, Citigroup, Wells Fargo, Bank of America, and Goldman Sachs—reporting results [195308]. Wells Fargo analyst Mike Mayo said profits for the banking sector could rise 15 to 20 percent from last year, crediting strong Wall Street trading and growing commercial loans [195308].

Mayo, who heads U.S. large-cap bank research at Wells Fargo, named Citigroup his top pick among the big banks [195308]. Citigroup is expected to show the biggest improvement in a key measure of profitability, though the bank still has a long way to go to hit its own performance target [195181]. The results will help decide if cheap bank stocks can keep rising [195181].

Investors are closely watching these earnings, which will set the tone for trading sessions and provide a snapshot of consumer spending, loan demand, and overall economic health [195291]. Any surprises—either positive or negative—could move stock prices sharply at the opening bell [195291].

Sources

Citi Is Top Bank Pick, Says Wells Fargo Analyst #195308JPMorgan, Citigroup Lead Bank Earnings Test #195181Earnings Season Kicks Off: Major Bank Reports Due Before Tuesday’s Open #195291

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