Investors in American banks have good reason to mark this Friday, Jan. 13, on their calendars.
That is the day that some of the biggest players in the industry are scheduled to release quarterly results.
So what should investors expect from three of the biggest U.S. banking stocks, and do they stand to profit? Let's take a look.
For the fourth quarter, the bank is expected to report earnings of 38 cents a share, compared with 27 cents a year earlier, which would represent a 40.7% increase. That is by far one of the strongest growth rates for any bank, big or small.
BofA is projected to bring in revenue of as much as $20.96 billion, which would be a 7.2% year increase from a year earlier. Although the bank doesn't expect an immediate economic upswing, there are a number of possible short-term effects such as a drop in corporate taxes, greater capital returns and an outsize benefit relative to smaller banks.
However, investors should consider this bank stock for the long term.