Tomorrow morning kicks off earnings season, with the big banks leading the way. Let’s take a quick look at the expectations for Citigroup (C), Goldman Sachs (GS), JPMorgan Chase (JPM), and Wells Fargo (WFC). All four will be reporting 4Q24, giving traders a perfect chance to evaluate last year and see what the financial sector expects for the year to come.

Some Schwab Network guests have highlighted financials as an area of opportunity this year, and with broader expectations for deregulation with the new administration, investors may be watching closely for opportunity. However, higher interest rates could stymie deals, debt, or other big moneymaking ventures for banks.

Zacks expects Citigroup (C) to report EPS of $1.25 and revenue of $19.55 billion (+49% and +12% year-over-year, respectively). The stock is up about 40% since last year, and currently has an implied move of around $2.60. Last quarter, strong investment banking revenue helped boost its numbers, and CFO Mark Mason said its deal pipeline was robust.

Goldman Sachs (GS) has a Zacks estimate of $7.99 EPS (+46%) and revenue of $12.2 billion (+8%). Its implied move is around $22.26, with shares up 48% in the last year. Last quarter, the bank beat profit expectations by a wide margin. Trading revenue was strong, but dealmaking – a key driver for the investment bank – was more muted across the entire market.

JPMorgan Chase (JPM) has an implied move of $8 and Zacks estimates of $4.02 EPS and $40.96 billion in revenue. These are smaller gains (+1% and +6%) year-over-year than the aforementioned banks, though JPM shares are up similarly (+43%) over the last year. Consumer and community banking makes up the largest source of its revenue, but last quarter saw net income from that segment fall 31%. Net charge-offs also rose by $520 million to $1.9 billion.

Wells Fargo (WFC), which Bankrate says has the highest average mortgage loan amount in the U.S., has Zacks estimates of $1.34 EPS (+4%) and $20.55 billion revenue (+0%). The flat revenue growth could be a point of concern for investors. Its implied move is around $3, and its share price is in-line with its peers, up about 44% since last year. The housing market’s health may be of particular interest in any forecasts the bank provides.

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