What the Big Bank Earnings Mean for Mutual Fund Investors (JPM, WFC)

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What the Big Bank Earnings Mean for Mutual Fund Investors (JPM, WFC)

Shauna O'Brien

|

JP Morgan building
JP Morgan (JPM) and Wells Fargo (WFC) kicked off earnings season for the big banks on Wednesday morning. Here’s what the results mean for mutual fund investors.

Inside the Earnings

JP Morgan

JPM reported earnings of $4.9 billion, or $1.19 per share, down 6.6% from $5.3 billion, or $1.30 per share, last year. Revenue was $23.6 billion, down from $24.1 billion last year. Analysts expected to see EPS of $1.31 and $23.64 billion in revenue.

Wells Fargo

Earnings were $5.7 billion, or $1.02 per share, up from $5.6 billion, or $1 per share, last year. Revenue came in at $21.4 billion, compared to last year’s Q4 revenue of $20.7 billion. Analysts expected to see revenue of $21.2 billion and EPS of $1.02.

Earnings Season for the Big Banks

JP Morgan and Wells Fargo were the first of the big banks to report earnings this week. Later this week, we will also see earnings releases from Bank of America (BAC), Citigroup, Goldman Sachs (GS) and PNC Financial (PNC).

So far, JPM has taken the biggest hit following its earnings release, falling nearly 4% on Wednesday morning. JPM’s profit was negatively impacted by legal expenses. On the flip side, WFC has benefited from an improved mortgage business.

Mutual Funds to Watch

Investors interested in JPM and WFC may be interested in the funds listed below. These funds currently have the largest stakes in the companies.

JP Morgan

Symbol Mutual Fund Stake
Liquid error: internal Vanguard Total Stock Market 1.68%
Liquid error: internal Vanguard 500 Index 1.08%
MEIAX MFS Value 0.65%
Wells Fargo
Symbol Mutual Fund Stake
Liquid error: internal Vanguard Total Stock Market 1.68%
Liquid error: internal Fidelity® Contrafund® 1.36%
Liquid error: internal Vanguard 500 Index 0.98%

The Bottom Line

The funds listed above allow investors to gain exposure to JPM and WFC while remaining diversified. Investors interested in these banks may also be interested in Bank of America (BAC) and Goldman Sachs (GS).

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JP Morgan building

What the Big Bank Earnings Mean for Mutual Fund Investors (JPM, WFC)

Shauna O'Brien

|

JP Morgan (JPM) and Wells Fargo (WFC) kicked off earnings season for the big banks on Wednesday morning. Here’s what the results mean for mutual fund investors.

Inside the Earnings

JP Morgan

JPM reported earnings of $4.9 billion, or $1.19 per share, down 6.6% from $5.3 billion, or $1.30 per share, last year. Revenue was $23.6 billion, down from $24.1 billion last year. Analysts expected to see EPS of $1.31 and $23.64 billion in revenue.

Wells Fargo

Earnings were $5.7 billion, or $1.02 per share, up from $5.6 billion, or $1 per share, last year. Revenue came in at $21.4 billion, compared to last year’s Q4 revenue of $20.7 billion. Analysts expected to see revenue of $21.2 billion and EPS of $1.02.

Earnings Season for the Big Banks

JP Morgan and Wells Fargo were the first of the big banks to report earnings this week. Later this week, we will also see earnings releases from Bank of America (BAC), Citigroup, Goldman Sachs (GS) and PNC Financial (PNC).

So far, JPM has taken the biggest hit following its earnings release, falling nearly 4% on Wednesday morning. JPM’s profit was negatively impacted by legal expenses. On the flip side, WFC has benefited from an improved mortgage business.

Mutual Funds to Watch

Investors interested in JPM and WFC may be interested in the funds listed below. These funds currently have the largest stakes in the companies.

JP Morgan

Symbol Mutual Fund Stake
Liquid error: internal Vanguard Total Stock Market 1.68%
Liquid error: internal Vanguard 500 Index 1.08%
MEIAX MFS Value 0.65%
Wells Fargo
Symbol Mutual Fund Stake
Liquid error: internal Vanguard Total Stock Market 1.68%
Liquid error: internal Fidelity® Contrafund® 1.36%
Liquid error: internal Vanguard 500 Index 0.98%

The Bottom Line

The funds listed above allow investors to gain exposure to JPM and WFC while remaining diversified. Investors interested in these banks may also be interested in Bank of America (BAC) and Goldman Sachs (GS).

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Popular Articles

Download our free report

Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

Why 30 trillion is invested in mutual funds book

Download our free report

Find out why $30 trillon is invested in mutual funds.

Why 30 trillion is invested in mutual funds book

Download our free report

Find out why $30 trillon is invested in mutual funds.

Read Next

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