U.S. Large-Cap Banks: Jason Goldberg's Bank Brief | Volume 23, Issue 120 | 7.15.26

Research evidence excerpt

U.S. Large-Cap Banks: Jason Goldberg's Bank Brief | Volume 23, Issue 120 | 7.15.26

Equity Research

15 July 2026

U.S. Large-Cap Banks

Jason Goldberg's Bank Brief |

Volume 23, Issue 120 | 7.15.26

Five of the 6 largest banks posted 2Q EPS yesterday. All beat U.S. Large-Cap Banks

consensus EPS. Generally, fees (market-related) and provision POSITIVE

(NPA, NCO flat to down) were better than expected while NII U.S. Large-Cap Banks

Jason M. Goldberg, CFA

was in-line. Higher than forecasted expenses and tax rate +1 212 526 8580

restrained further improvement while share buyback slowed. jason.goldberg@barclays.com

BCI, US

Research Released

JPM - 2Q26 EPS REVIEW: Robust equities trading and benign credit make it a sweet sixteen

(7/14/26)BAC - 2Q26 EPS REVIEW: Ups 2026 operating leverage guide (7/14/26)

GS - 2Q26 EPS REVIEW: Capitalizing on a constructive operating environment (7/14/26)

WFC - 2Q26 EPS REVIEW: Reiterates 2026 NII expectations though NIM could slip further

(7/14/26)

C - 2Q26 EPS REVIEW: Strong 1H26 results raise questions around unchanged 2026 outlook

(7/14/26) ⇒ Short (EPS Epitomes) and expanded (Earnings Explanations) company summaries

below

Today's Tasks

8:00am – MTB 2Q26 conference call

Webcast: https://edge.media-server.com/mmc/p/jo7ttyep/

Listen only: domestic 800-347-7315; int'l 785-424-1755 passcode MTBQ226

Replay: domestic 800-695-2533; int'l 402-530-9029

8:30am – MS 2Q26 conference call

Webcast: https://morganstanley.webcasts.com/starthere.jsp?ei=1746603&tp_key=86ab90b7fd

Listen only: domestic 844-886-2200; int'l 646-307-1096 passcode 400700

Replay: https://www.morganstanley.com

10:00am – PNC 2Q26 conference call

Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=bVs0cLqc

Listen only: domestic 866-604-1697; int'l 215-268-9875 |