Which banks could surprise to the upside according to analyst Gerard Cassidy?

Cassidy sees JPMorgan Chase and Goldman Sachs as the most likely to beat expectations.

What factors support JPMorgan and Goldman Sachs results?

JPMorgan benefits from higher rates and investment banking activity, while Goldman Sachs gains from strong trading and a dealmaking rebound.

Big Bank Earnings Season Begins: JPM, GS Could Surprise

Q: When do major banks report Q2 2026 earnings?

The season starts Tuesday, July 14, 2026, with JPMorgan, Goldman Sachs, Wells Fargo, Bank of America, and Citigroup, followed by Morgan Stanley on Wednesday.

Major US banks report Q2 2026 earnings starting Tuesday, July 14, with JPMorgan, Goldman Sachs, Wells Fargo, Bank of America, and Citigroup, followed by Morgan Stanley on Wednesday. RBC Capital Markets analyst Gerard Cassidy highlights JPMorgan and Goldman Sachs as potential upside surprises.

The second-quarter earnings season for major US banks begins on Tuesday, July 14, 2026, with reports from JPMorgan Chase (JPM), Goldman Sachs (GS), Wells Fargo (WFC), Bank of America (BAC), and Citigroup (C), followed by Morgan Stanley (MS) on Wednesday. RBC Capital Markets analyst Gerard Cassidy believes two banks could outperform market expectations.

Banks Poised for Positive Surprises

According to Cassidy, JPMorgan Chase (JPM) and Goldman Sachs (GS) are the most likely to beat analyst estimates this quarter. He cites strength in investment banking and trading as key drivers.

What's Driving the Optimism?

JPMorgan Chase (JPM)

Expected to benefit from higher interest rates boosting net interest income.
Strong activity in investment banking and advisory.

Goldman Sachs (GS)

Robust performance in trading and markets.
Resurgence in dealmaking and IPOs.

Sector Context

These expectations come amid regulatory pressures and interest rate fluctuations. However, major banks appear well-positioned due to diversified revenue streams.

What It Means for Investors

Investors should closely monitor the reports, especially credit quality indicators and loan growth. Positive surprises could support stock prices in the near term, but forward guidance will be the key factor.