Citigroup, JPMorgan Beat Q3 Earnings Expectations; Wells Fargo Has Solid Year-over-year Surge in Net Income
Three big U.S. banks reported their Q3 results on Friday. While Citigroup and JPMorgan beat earnings-per-share expectations of Wall Street analysts, Wells Fargo’s fell slightly short of projections. All three banks experienced positive year-over-year growth in net incomes.
Citigroup earned $1.73 per share in Q3, versus Street estimates of $1.69. Its actual revenues were $18.389 billion, lower than $18.45 billion expectation. The company’s net income grew almost +12% to $4.622 billion from the year ago period’s $4.133 billion.
For JPMorgan Chase & Co., net earnings per share was $2.34 per share on revenues of $27.8 billion, beating analysts’ expected $2.25 per share on revenues of $27.5 billion. Net income rose to $8.38 billion, from $8.316 billion a year ago.
Wells Fargo’s earnings per share of $1.16 was lower than the Street’s expected $1.17 per share. Q3 net income surged +33% year-over-year to touch $6.0 billion. Its Q3 revenues came in at $21.9 billion, slightly higher than expected.
C in upward trend: price may ascend as a result of having broken its lower Bollinger Band on May 24, 2023
C may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 36 cases where C's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where C advanced for three days, in of 303 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on May 19, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on C as a result. In of 85 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for C turned negative on May 19, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .
C moved below its 50-day moving average on May 19, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for C crossed bearishly below the 50-day moving average on May 22, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 20 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
The 50-day moving average for C moved below the 200-day moving average on May 09, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where C declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for C entered a downward trend on June 01, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. C’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.464) is normal, around the industry mean (0.923). P/E Ratio (6.158) is within average values for comparable stocks, (17.405). C's Projected Growth (PEG Ratio) (18.586) is very high in comparison to the industry average of (3.201). Dividend Yield (0.045) settles around the average of (0.057) among similar stocks. P/S Ratio (1.132) is also within normal values, averaging (2.306).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. C’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock worse than average.
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Industry description
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a financial conglomerate
Industry MajorBanks
C and
Correlation & Price change
A.I.dvisor indicates that over the last year, C has been closely correlated with BAC. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if C jumps, then BAC could also see price increases.
