Market trends

8 big banks report earnings: what to watch

AlphaSense Staff

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October 28, 2020


Data forms blog post
Data forms blog post

Big banks will kick off Q3 earnings on October 13th. After two uncertain quarters of reporting, analysts are hoping for more clarity and direction for the remainder of 2020.

During the first half of 2020, major banks took major reserves and reported significantly lower earnings–an early look at how COVID-19 was impacting the economy across sectors. This quarter, the nation’s largest lenders are expected to report better earnings after delinquencies came in better than initially feared.

Even with an increase in borrowing, the remainder of 2020 is uncertain mostly due to Congress–will we see another stimulus package to help U.S. households and businesses?

After Q2 earnings, most big banks saw a dropoff in positive sentiment,; they are slowly rebounding after financial conferences in September and anticipated Q3 earnings. This chart does not reflect Q3 earnings. | Sentiment analysis for JPMorgan Chase, Citigroup, Goldman Sachs, BoA, and Morgan Stanley vs. Peer Median

What were the major trends in executive commentary last quarter? And what assumptions can we make about their Q3 earnings? We’ve compiled highlights from last quarter’s earnings, including major themes, executive commentary, and ungated document links to help you prepare for this week’s big bank earnings. Link to other page.

 

Major Banks Earnings This Week:

  • October 13th: JPMorgan Chase & Co (Before market open)
  • October 13th: Citigroup Inc (Before market open)
  • October 13th: Charles Schwab (Before market open)
  • October 14th: Bank of America (Before market open)
  • October 14th: Wells Fargo & Co (Before market open)
  • October 14th: PNC Financial Services Group (Before market open)
  • October 14th: Goldman Sachs Group Inc (Before market open)
  • October 15th: Morgan Stanley (Before market open)

“I’m going to get the project done in the same amount of time, but now I feel like I am producing more compelling, quality work. It’s a matter of being able to say I pulled perspectives from 20 sources vs. 10…it changes my confidence from moderate to high.” – Markets Product Manager

(Placeholder text) Big banks will kick off Q3 earnings on October 13th. After two uncertain quarters of reporting, analysts are hoping for more clarity and direction for the remainder of 2020.

During the first half of 2020, major banks took major reserves and reported significantly lower earnings–an early look at how COVID-19 was impacting the economy across sectors. This quarter, the nation’s largest lenders are expected to report better earnings after delinquencies came in better than initially feared.

Even with an increase in borrowing, the remainder of 2020 is uncertain mostly due to Congress–will we see another stimulus package to help U.S. households and businesses?

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