Banks Q3 earnings season kicks off today with JPMorgan(NYSE:JPM), Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), and PNC Financial (NYSE:PNC ) all set to report before the bell.
Analysts will be looking at loan growth, technology expense, and continuing effects of tax reform. Expectations for trading unit performance are subdued.
Here's a look at their track records in terms of earnings surprise.
JPMorgan Q3 EPS consensus estimate is $2.26. Though the bank has beat earnings expectations since Q1 2016, the size of the earnings surprise has been narrowing to 3.15% in Q2.
Citigroup's expected to earn $1.68 per share; Its quarterly earnings have exceeded consensus since Q2 2015. For the past four quarters the percentage of the beat has sequentially declined to 4.5% in Q2 2018 from 7.6% in Q3 2017.
Wells Fargo Q3 EPS consensus estimate stands at $1.19. It's missed consensus twice in the past eight quarters. In Q2 2018, EPS fell short of consensus by 3.6%.
PNC Financial is expected to earn $2.73 per share. In the past eight quarters, it matched once (Q1 2018) and missed once (by 1.2% in Q1 2016). PNC beat by 5.4% in Q2 2018.