Wells Fargo’s Mike Mayo: Citi My Top Pick of Big Banks
Bloomberg 2026-07-13 21:47:45
Context: Major US banks are set to report their quarterly earnings, with JPMorgan, Citi, Wells Fargo, Bank of America, and Goldman Sachs releasing their results within a short time frame of each other. Mike Mayo, Head of US Large-Cap Bank Research at Wells Fargo, shared his outlook on the upcoming earnings reports. He expects overall bank earnings to increase significantly year-over-year.
Key Facts
- Mike Mayo, Head of US Large-Cap Bank Research at Wells Fargo, expects overall bank earnings to increase by 15 to 20 percent year-over-year, driven by strong Wall Street trading revenues and robust commercial loan growth.
- The earnings reports are scheduled to be released by five of the six largest US banks, including JPMorgan, Citi, Wells Fargo, Bank of America, and Goldman Sachs, within a few hours of each other.
- According to Mike Mayo, the increase in bank earnings is attributed to a combination of strong Wall Street trading revenues and robust commercial loan growth on Main Street.