Banks Gear Up For Earnings Season: 15 Top Stock Picks Including Citigroup, Morgan Stanley, And Truist
Portfolio Pulse from Piero Cingari
The third-quarter earnings season for U.S. banks is set to begin, with major institutions like JPMorgan Chase, Wells Fargo, and Bank of New York Mellon reporting results. Analysts are optimistic about the banking sector, expecting rate cuts and capital returns. Top stock picks include Citigroup, Morgan Stanley, and Truist.
October 09, 2024 | 4:30 pm
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POSITIVE IMPACT
Bank of New York Mellon is set to report Q3 earnings, with analysts optimistic about the banking sector's performance.
As a major bank reporting earnings, BK is expected to benefit from the positive outlook for the banking sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Citigroup is a top pick for Q3 earnings, with expectations of strong fee growth and capital markets activity.
Citigroup is highlighted as a top pick due to expected strong fee growth and capital markets activity, likely boosting its stock.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Goldman Sachs is set to report Q3 earnings, with analysts optimistic about its performance due to strong fee growth and capital markets activity.
Analysts are optimistic about GS's performance, expecting strong fee growth and capital markets activity, which could boost its stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
JPMorgan Chase is set to report Q3 earnings, with analysts optimistic about the banking sector's performance due to expected rate cuts and capital returns.
JPMorgan is a major player in the upcoming earnings season, and analysts are positive about the sector's outlook, which could boost JPM's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P Regional Banking ETF is up 6% YTD, with recent outperformance due to falling inflation and rate cut expectations.
KRE's recent outperformance is driven by macroeconomic factors, and positive earnings could further support its value.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Morgan Stanley is among the top picks for Q3 earnings, with analysts optimistic about its performance.
Morgan Stanley is highlighted as a top pick, with analysts optimistic about its performance, likely boosting its stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Truist Financial is a top pick for Q3 earnings, with analysts expecting positive performance due to potential rate cuts.
Truist is recommended as a top pick due to expected positive performance from potential rate cuts, likely benefiting its stock.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Wells Fargo is among the major banks reporting Q3 earnings, with positive expectations due to potential rate cuts and capital returns.
Wells Fargo is part of the major banks reporting earnings, and the positive sector outlook could benefit its stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Financial Select Sector SPDR Fund has risen 21% YTD, reflecting strong performance in the banking sector.
XLF's performance reflects the strong banking sector, and positive earnings could further boost its value.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Bank of America will report Q3 earnings, with analysts favoring regional banks over large money centers.
While BAC is a major player, analysts are currently favoring regional banks, which may neutralize its short-term impact.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70