It’s time for banks to post their earnings again, shedding light on the health of the mortgage industry.
Here is a list of the banks to keep watch for.
Third-quarter earnings for the financial industry begin after market close on Wednesday, starting, as usual, with JPMorgan Chase (JPM) releasing shortly after 4 p.m. EST.
In the second-quarter, JPMorgan beat analyst expectations, delivering second-quarter earnings of $1.54 per share, up from $1.46 a share in the year-earlier period, despite revenue falling to $24.5 billion from $25.35 billion a year ago.
Wells Fargo (WFC) will announce its third-quarter 2015 earnings next on Wednesday, Oct. 14 at 5 a.m. PST. Wells Fargo reported net income of $5.7 billion, or $1.03 per diluted common share, for the second quarter 2015, compared with $5.7 billion, or $1.01 per share, for the second quarter 2014, and $5.8 billion, or $1.04 per share, for the first quarter 2015.
Bank of America (BAC) is also scheduled to release on Oct. 14 at 7 a.m. EST. Bank of America recorded a second-quarter net income of $5.3 billion, or $0.45 per diluted share, compared to $2.3 billion, or $0.19 per share, a year ago.
Next, Citigroup (C) will report its earnings at approximately 8 a.m. EST on Oct. 15.
The bank posted net income for the second quarter 2015 of $4.8 billion, or $1.51 per diluted share, on revenue of $19.5 billion. This is compared to net income of $181 million, or $0.03 per diluted share, on revenue of $19.4 billion for the second quarter 2014.
The Goldman Sachs Group (GS) also plans to announce on Oct. 15 at 7:30 a.m. EST. It reported net revenue of $9.07 billion, net earnings of $1.05 billion and diluted earnings per common share of $1.98 for the second quarter ended June 30, 2015.
Blackstone (BX), a private-equity funded investment bank based in New York, is another company to keep watch for this week since the company has made significant increases in its position in housing recently. The company will post its third-quarter earnings before the market opens on Oct. 15.
