WFC - Financial ETFs in focus with bank earnings on deck

2023-04-13 14:14:47 ET

Exchange traded funds focused on the banking and financial sectors will be in focus over the next several days as investors receive Q1 earnings figures from some of the most prominent financial institutions on Wall Street. The reports represent the first quarterly updates from the financial powerhouses since the banking crisis that roiled the industry last month.

Earnings releases are due out from names like JPMorgan ( JPM ), Wells Fargo ( WFC ) and Citigroup ( C ). As earnings data arrives, the underlying stocks will be primed for price swings, moves that could also ripple out into the exchange traded fund space.

A handful of banking funds in particular to keep in mind include the Invesco KBW Bank ETF ( NASDAQ: KBWB ), SPDR S&P Bank ETF ( NYSEARCA: KBE ) and the First Trust Nasdaq Bank ETF ( FTXO ).

Outside of banking ETFs, broad financial funds like Financial Select Sector SPDR Fund ( NYSEARCA: XLF ), Vanguard Financials ETF ( NYSEARCA: VFH ) and the iShares U.S. Financials ETF ( IYE ) may also find themselves in play.

Furthermore, the list of financial ETFs also includes the recently launched Roundhill BIG Bank ETF ( BIGB ). The condensed fund only holds six names, including JPM, WFC and C.

See below a list of financial firms that are set to deliver earnings on Friday along with their EPS and revenue forecasts:

• BlackRock ( BLK ): EPS consensus $7.75, Revenue forecast $4.26B.
• Citigroup ( C ): EPS consensus $1.70, Revenue forecast $20.05B.
• JPMorgan ( JPM ): EPS consensus $3.41, Revenue forecast $36.13B.
• Wells Fargo & Company ( WFC ): EPS consensus $1.12, Revenue forecast $20.12B.
• First Republic Bank ( FRC ): EPS consensus $1.01, Revenue forecast $1.22B.
• PNC Financial Service Group ( PNC ): EPS consensus $3.67, Revenue forecast $5.62B.

The financial sector remains volatile as investors navigate the latest banking crisis. Seeking Alpha generated a list of the top 10 financial stocks according to its Quant Ratings.

For further details see: