US Banks: Citigroup rises after quarterly results; JPM, Wells Fargo and BNY fall

JPMorgan Chase & Co
Shares of JPMorgan & Chase JPM.N, the largest U.S. lender, fall as much as 1% in choppy premarket trading
Bank expects $95.5 billion of Net Interest Income (NII), compared with an earlier estimate of $94.5 billion
Excluding one-off costs, JPM earned $4.96 per share, compared with the $4.48 per share that analysts were expecting, according to estimates compiled by LSEG

Co's investment banking fees rose 7% to $2.5 billion
Up to Monday's close, stock was up 20.44% YTD vs ~15.5% surge in S&P 500 Banks index .SPXBK

Citigroup

Citigroup's C.N shares up 0.6% in choppy premarket trading

U.S. lender's profit rose in Q2 as its traders brought in a windfall from turbulent markets

Revenue in co's wealth unit jumped 20%

Citi's investment banking fees climbed 13% in Q2, while overall banking revenue increased nearly 19% to $1.9 billion

Co reports net income of $1.96 per share

Citi shares up ~24.3% YTD as of last close

Wells Fargo

Shares of fourth-largest U.S. lender Wells Fargo WFC.N down 3.1% at premarket
Lender cut its expectation for annual interest income to be roughly in line with 2024 level of $47.7 billion

Provision for credit losses fell to $1.01 billion in the quarter from $1.24 billion a year earlier

WFC reports Q2 net income of $1.60/share vs $1.33/share, a year earlier
Up to Monday's close, stock up 18.78% YTD vs ~15.5% surge in S&P 500 Banks index .SPXBK

BNY

Shares of BNY BK.N, the world's largest custodian bank, down 1.2% premarket

Co's total revenue climbed 9% and exceeded $5 billion for the first time in a quarter

Net interest income (NII) rose 17% vs analysts' avg. expectation of 11.8%, according to data compiled by LSEG

Profit applicable to BNY shareholders came in at $1.39 billion vs $1.14 billion a year earlier

Stock up ~24% YTD