U.S. Large-Cap Banks: Jason Goldberg's Bank Brief | Volume 23, Issue 94 | 5.27.26

Research evidence excerpt

U.S. Large-Cap Banks: Jason Goldberg's Bank Brief | Volume 23, Issue 94 | 5.27.26

Equity Research

27 May 2026

U.S. Large-Cap Banks

Jason Goldberg's Bank Brief |

Volume 23, Issue 94 | 5.27.26

JPM (payments), FCNCA (Bay area), WFC (3D printed home U.S. Large-Cap Banks

mortgages) and BAC (Brazilian IPOs) tout growth POSITIVE

opportunities; Some might not have averaging system for U.S. Large-Cap Banks

Jason M. Goldberg, CFA

GSIB proposal; CD rates sticky; Vanguard puts fee pressure on +1 212 526 8580

active bond funds; CAMELS changes could aid bank M&A; jason.goldberg@barclays.com

BCI, US

QBP, conference today...

Long-term Learnings

• Next week I will serve on the faculty for the 2026 session of the ABA Stonier

Graduate School of Banking, teaching a one-day class entitled “Bank Stock

Outlook, Forecasting & Valuation” at the Wharton School of the University of

Pennsylvania. This marks my tenth consecutive year teaching this four-hour

course.

• In the morning session, we will focus on forecasting bank earnings and their key

drivers, and will review recent results and current developments shaping the

sector, including the regulatory backdrop, private credit and NBFIs, and

technology and AI. In the afternoon, we will discuss our outlook for bank stocks,

explore what differentiates banks, and walk through valuation methodologies

using examples from my super-regional bank coverage universe.

• For those interested, I will also host a condensed webinar version of this class on

Thursday, June 4 at 10:00am. It is designed as an introduction or refresher to

bank analysis and may be particularly helpful for incoming summer interns or

recent graduates. The session will include a formal presentation followed by

Q&A and should last around 2 hours.