Research · Sep 3, 2026
Wells Fargo FY2025 revenue ~$84B with net income ~$20B and adj. EPS ~$5.75. Federal Reserve $1.95T asset cap (imposed Feb 2018 post fake-accounts scandal) remains THE strategic constraint — 7-year limit on balance sheet growth that has cost ~$20-40B in foregone NII vs peer megabanks. Consent order resolution progressed: 8 of 14 closed by FY2025 (vs baseline 14 at FY2022 year-end). Charlie Scharf operational rebuild over 6 years includes technology platform modernization + control function strengthening + non-core divestitures. FY2026 thesis: Asset cap removal during FY2026 (Wells Fargo management signaled likely scenario based on regulatory communications) — incremental ~$200-400B balance sheet capacity over 3-5 years, supporting ~$5-12B incremental annual revenue and EPS toward $6.50-7.50 by FY2027; key risks: cap removal delayed beyond FY2026, new regulatory issues emerge.
Research · Jun 11, 2026
BAC dual catalyst: CCAR stress test buffer + May CPI release. 100 bp buffer release would add $20B+ buyback capacity over 2 years.
Research · Jun 10, 2026
Univ of Michigan sentiment hit a 74-year low while JPM Q1 EPS came in at $5.94 with loan growth intact. Bifurcated consumer explains the divergence.
Research · Apr 13, 2026
US regulators' warning on Anthropic Mythos AI cyber threats highlights vulnerabilities at major banks like JPM, BAC, and WFC, while creating tailwinds for cybersecurity leaders CRWD, PANW, and ZS. The article analyzes exposure, financials, and ranks conviction plays amid rising AI-driven risks.
Research · Apr 13, 2026
Hotter CPI has bond markets pricing fewer 2025 Fed cuts, favoring banks like JPM, BAC, and WFC via NIM expansion while hurting REITs (PLD, O) and homebuilders (DHI) with higher costs and weak demand. JPM leads conviction ranking; avoid leveraged real estate. Article analyzes financials, guidance, and exposures.
Research · Apr 13, 2026
The Iran ceasefire sparked a market rally just as NFLX, JPM, BAC, and WFC kick off Q1 earnings, per MarketWatch on April 9, 2026. Strong guidance, EPS beat history, and cheap bank vals position them to extend gains, with NFLX's ad/live momentum leading. Bulls eye 10-15% upside if beats confirm resilience.
Research · Apr 13, 2026
Hotter-than-expected inflation dashed rate cut hopes, favoring banks like JPM and WFC via NIM expansion while pressuring debt-laden REITs (PLD, AMT) and utilities (NEE, DUK). JPM tops conviction ranks with superior scale; REITs lag on cap rate risks. Prolonged high rates could widen these gaps further.
Research · Apr 13, 2026
Resilient U.S. labor data ahead of PPI and Goldman earnings signals fewer Fed cuts, boosting big banks' NII. JPM, BAC, and WFC lead with strong deposits and growth guidance, while GS and COF lag on exposure.
Research · Apr 10, 2026
ADP's 62K March jobs miss boosts Fed cut odds, favoring REITs like PLD and growth stocks MSFT/AMZN over banks JPM/WFC. Analysis ranks exposure with financial metrics, highlighting winners from lower rates.
Research · Apr 10, 2026
Jane Fraser's NY Fed Council appointment spotlights big banks' rotating regulatory influence, with JPM, Citi, and MS best positioned for policy foresight amid flat TTM growth and weak shares. Analysis ranks six majors by exposure, metrics, and conviction. Key: NII guidance and Basel outcomes to track.
Research · Apr 10, 2026
Rising to 6.57%, mortgage rates pressure homebuilders KBH/TOL and lender RKT with falling orders/revenue, while banks like WFC gain NIM and REITs AVB/O hold via occupancy. Ranked picks favor WFC top, avoiding RKT bottom.
Research · Apr 9, 2026
Iran conflict signals stress US short-term credit, benefiting safe Treasuries like SHY and resilient banks like JPM while pressuring leveraged names like WFC and corporate bonds like LQD. Analysis ranks 6 plays by exposure and valuation. Key metrics show banks' liquidity buffers amid recent price weakness.
