Q2 25 US Bank Earnings Preview: By The Numbers

JPMorgan Chase (JPM, 11:45am BST/6:45am ET, 15 July)

JPM trades approximately 18% higher YTD, outperforming not only within the Financials sector, but also the S&P 500 at large. The stock stands as the 11^th largest weighting in the benchmark, while also being a Dow constituent. Options tied to the stock price a move of +/-3.6% in the 24 hours following the upcoming earnings release, with JPM having ended the day in the green following the last three quarterly reports in a row. This time out, consensus expects adj. EPS at $4.47, on revenues of $44.1bln.

Wells Fargo (WFC, 12pm BST/7am ET, 15 July)

Wells have advanced just over 15% this year, having been buoyed recently by news that the $1.95tln asset cap imposed by the Federal Reserve has finally been lifted, after seven years. That performance, in any case, also sees WFC outperforming both Financials sector, and the benchmark S&P 500, with the stock being the 31^st largest member of the index. Derivatives imply a move of +/-4.2% after the upcoming earnings print, though the stock has ended in the red following four of the last six reports. For Q2 25, the Street expects adj. EPS at $1.40, on revenues of $20.7bln.

Citigroup (C, 1pm BST/8am ET, 15 July)

Citi trade around 22% higher YTD, tied with GS for the best performing bank stock in 2025, and vastly outperforming the benchmark S&P 500, though only has a relatively modest 0.3% weighting in the index. Options on Citi price a move of around +/-3.7% on reporting day, with the stock having ended the day in the green for 2 quarters in a row, post-earnings. For the upcoming report, consensus expects adj. EPS of $1.61, on revenues of $20.9bln.

Bank of America (BAC, 11:45am BST/6:45am ET, 16 July)

BAC comes into Q2 earnings trading just 7% higher YTD, not only lagging peers, but also underperforming the S&P 500, within which it stands as the 23^rd largest constituent. BAC derivatives imply a move of +/-3.6% in the 24 hours following the upcoming earnings release, with recent pedigree having been rather mixed, with 3 gains and 3 losses following the last 6 reports. In Q2 25, expectations point to adj. EPS of $0.85, on revenues of $26.7bln.

Goldman Sachs (GS, 12:30pm BST/7:30am ET, 16 July)
Goldman have gained about 22% so far in 2025, tied with Citi for the best performing bank stock YTD. In terms of index weightings, Goldman stands as the 43^rd largest stock in the S&P 500, but also sits as the largest stock in the Dow, with a sizeable 9.7% weight in the latter. Options on GS price a move of +/-3.5% in the day following the earnings print, with the stock having gained post-earnings following 5 of the last 6 reports. For the upcoming release, participants expect adj. EPS of $9.69, on net revenues of $13.5bln.

Morgan Stanley (MS, 12:30pm BST/7:30am ET, 16 July)

Morgan Stanley sit around 12% higher so far this year, marginally outperforming the Financials sector, but lagging most peers. That said, MS are outperforming the benchmark S&P 500, while standing as the 37^th largest stock in the index. Options contracts imply a move of +/-3.9% over the upcoming release, with markets having cheered recent earnings, seeing the stock rally following the last five quarterly reports running. In Q2 25, consensus expects adj. EPS at $1.97, on revenues of just over $16bln.

Note – all figures in this article are correct as of 9^th July 2025; past performance is not a reliable indicator of future results