US Banks: JPM and GS rise, Wells Fargo and Citi falls after Q3 results

Goldman Sachs group

13/10/2026 14:38

Updates prices
JPMorgan Chase & Co JPM.N 
** Shares up 1.4% after after co posted qtrly profit miss, its first in nearly three years, as market volatility slowed dealmaking and bond trading activity
** Q3 profit of $5.57/share missed analysts' avg. estimate of $5.85/share, according to LSEG data, driven by an 8% sequential decline in IB fees and a 4% drop in fixed-income trading rev
** As of last close, JPM's stock has advanced ~3.7% YTD
Goldman Sachs GS.N
** Shares up 1% after the bank reported a Q3 profit beat
** Equities revenue jumped 72% to $6.44 bln as volatile markets spurred trading, while investment banking fees rose 21% to $3.22 bln, defying a broader M&A slowdown
** As of last close, GS shares up ~1.7% YTD
Citigroup C.N
** Shares down 0.4%  after co reports 40% jump in Q3 profit, driven by stronger investment banking, services and wealth management revenue
** Co's quarterly profit rose to $5.25 bln, or $2.85/share, vs $3.8 bln, or $1.86/share, a yr ago; investment banking revenue up 9% to $1.35 bln
** As of last close, Citi down ~13%

Wells Fargo WFC.N 
** Shares down 1% after co reports a rise in Q3 profit 
** The fourth-largest US lender reports net income of $5.95 bln, or $1.87/share, compared with $5.59 billion, or $1.66/share, a year earlier
** WFC says its customers are doing well despite economic uncertainty, but shares fallamid broader investor caution on the banking sector over future Fed rate hikes
** As of last close, stock has fallen ~10.6% YTD 

** Morgan Stanley MS.N and Bank of America MS.N, which are set to report before the market opens on Wednesday, also traded higher 
     

 (Reporting by Rashika Singh in Bengaluru)
 ((Rashika.Singh@thomsonreuters.com))