US banks: Citi up, JPM and Wells Fargo fall after Q1 results

Wells Fargo & Co

14/04/2026 13:25

Adds Citi and updates shares

Citigroup C.N

** Citigroup shares up 1.2% after the bank reported a 42% jump in Q1 profit driven by a surge in trading revenue

** Geopolitical tensions and concerns over AI disruption fueled market volatility, boosting the co's total markets revenue by 19% to $7.2 billion

** Investment banking was also a bright spot, with revenue up 15% as strong dealmaking lifted fees from equity underwriting and M&A advisory

** Up to Monday's close, stock up ~8% YTD vs ~1% fall in S&P 500 Banks index .SPXBK

JPMorgan Chase & Co JPM.N

** Shares of JPMorgan Chase & Co reverse course in volatile premarket trading; last down 0.6%

** Bank reports rise in Q1 profit, boosted by strong performance in its trading division

** Net income rises to $16.5 billion, or $5.94 per share, beating analyst estimates for adj. EPS of $5.45 - LSEG data

** The largest U.S. lender's investment banking fees jump 28% in Q1 from a year earlier, the strongest performance among global banks, Dealogic data shows

** JPM's markets revenue rises 20%

** As of last close, stock down 2.6% YTD, vs. ~1% fall in S&P 500 Banks index .SPXBK

Wells Fargo WFC.N

** Wells Fargo shares down 2.3% premarket

** Profit rises in Q1, helped by higher income from interest payments

** The fourth-largest U.S. lender posts Q1 net profit of $5.25 billion, or $1.60 per share

** As of last close, stock down 7% YTD, vs. ~1% fall in S&P 500 Banks index .SPXBK

 (Reporting by Rashika Singh in Bengaluru)

 ((Rashika.Singh@thomsonreuters.com;))