Stock Movers: Citigroup, JPMorgan Chase, Wells Fargo

Scott Peters
15 Jul, 2025
New York City

Wells Fargo & Co. dropped 5.5% to $78.86 after the California-based bank reported fiscal second quarter results ending in June.

Consolidated revenue in the quarter edged up to $20.8 billion from $20.7 billion, net income advanced to $5.5 billion from $4.9 billion, and diluted earnings per share rose to $1.60 from $1.30 a year ago.

Chief Executive Officer Charlie Scharf commented, “As we have been investing to drive organic growth and improve the earnings capacity in each of our businesses, we have also been returning excess capital to shareholders." 

During the first half of this year, the company repurchased over $6 billion of common stock, and the company plans to increase third-quarter common stock dividend by 12.5% to 45 cents from 40 cents per share. 

Citigroup Inc. gained 3.7% to $90.72 after the New York-based bank reported results for the second quarter of 2025.

Revenue decreased 7% to $20 billion from $21.7 billion, net income declined 20% to $3.2 billion from $4 billion, and diluted earnings per share fell to $1.50 from $1.96 a year ago. 

The company’s operating expenses were down 2% to $13.2 billion compared to the prior year.

The company guided full-year revenue to be near the upper end of its previous guidance of $84 billion, and the company raised its dividend to 60 cents per share from 56 cents after the completion of the stress test on July 2.

JPMorgan Chase & Co. fell 0.7% to $286.55 after the New York-based bank reported an 18% decline in profit in the second quarter.

Consolidated revenue in the quarter decreased to $44.9 billion from $50.2 billion, net income dropped to $15 billion from $18.1 billion, and diluted earnings per share fell to $5.24 from $6.12 a year ago.

Fixed-income trading increased 14% to $5.7 billion, equities trading revenue rose 15% to $3.2 billion, and investment banking fees advanced 7% to $2.5 billion. 

The bank said provision for credit losses was $2.8 billion, lower than the $3.1 billion estimated by analysts. 

“Earlier this month, we announced that the Board intends to increase our common dividend for the second time this year, resulting in a 20% cumulative increase compared with the fourth quarter of 2024. 

We also repurchased $7 billion of common stock. 

We ended the quarter with a 15% CET1 ratio, which remains far in excess of our required capital levels. In addition, we have an extraordinary amount of liquidity, with $1.5 trillion of cash and marketable securities,” the company said in a statement to investors.