JPMorgan Vs. Wells Fargo: Which Bank Stock Is More Bullish Ahead Of Q3 Earnings?

Analysts and investors are keenly observing the stock performance of JPMorgan Chase & Co JPM and Wells Fargo & Co WFC ahead of their third-quarter earnings reports on Oct. 11.

Both banks are showcasing strong technical indicators, but which stock charts a more bullish path?

JPMorgan Chase: Strong Bullish Signals

JPMorgan is expected to report earnings of $4.01 per share on revenues of $41.66 billion. The stock is currently priced at $213.42, slightly above its analyst consensus target price of $207.17. Consensus analysts rating for JPMorgan stock stands at Overweight.

Recent ratings from Oppenheimer, Morgan Stanley, and Deutsche Bank have set an average price target of $229.67, suggesting a potential upside of 7.53%.

Chart created using Benzinga Pro

Technical analysis paints a positive picture for JPMorgan stock. The share price is comfortably above its eight, 20 and 50-day simple moving averages (SMAs), indicating strong bullish momentum.

Additionally, with the stock trading above its 200-day simple moving average (SMA) of $195.79, multiple indicators point towards a bullish signal.

Wells Fargo: Promising Yet Cautious Outlook

In comparison, Wall Street expects Wells Fargo to deliver earnings of $1.28 per share and revenues of $20.4 billion. The current share price stands at $57.54, lower than the consensus target of $59.80. Consensus analysts rating for Wells Fargo stock stands at a Neutral.

However, recent ratings from Wolfe Research, Evercore ISI Group, and Morgan Stanley project an average target of $66.67, hinting at a more substantial upside of 15.86%.

Chart created using Benzinga Pro

Wells Fargo stock’s technical indicators are also encouraging. The stock price is comfortably above its eight, 20 and 50-day SMAs, with bullish signals confirmed across these indicators.

The current price exceeds its 200-day SMA of $55.85, reinforcing the bullish sentiment in the short term.

Read Also: How To Earn $500 A Month From Wells Fargo Stock Ahead Of Q3 Earnings

The Verdict

Both JPMorgan and Wells Fargo display bullish characteristics in their stock charts. New York-based JPMorgan appears to have a stronger technical edge with better analyst ratings and a higher current stock price relative to its moving averages.

Though consensus price target appears to show more upside with San Francisco-based Wells Fargo.

As both companies prepare to release their earnings, investors will be watching closely to see if these bullish trends translate into positive results.

Indeed, Wells Fargo offers a compelling upside potential. But JPMorgan’s current strength in both technical and analyst perspectives may position it as the more bullish financial stock ahead of earnings.

Read Next:

• Marjorie Taylor Greene Boosts Stock Portfolio With AI Exposure, Buys JPMorgan And This Hot Magnificent 7 Stock: Here’re Congresswoman’s Latest Trades