Big banks certainly weren't spooked on Friday the 13th.
JPMorgan Chase & Co. (JPM) - Get Report , Citigroup Inc. (C) - Get Report and Wells Fargo & Co. (WFC) - Get Report each reported strong earnings beats Friday, April 13, kicking off what analysts expect to be a solid quarter for the sector.
Analysts at Keefe, Bruyette & Woods estimated the sector could report an average 28% gain in earnings per share for the quarter. The rally in earnings has been driven by stock-trading revenue and tax cuts-related benefits, the brokerage said.
KBW's estimate, coupled with early earnings beats, come on the tails of recent strength among big banks. The PowerShares KBW Bank Portfolio (KBWB) - Get Report has rallied 3.36% this week despite a sharp market drawdown Wednesday.