Bank stocks rose broadly on Wednesday after JPMorgan Chase reported better-than-expected quarterly results.
Shares of Goldman Sachs, Citigroup, Wells Fargo, Morgan Stanley and Bank of America all rose more than 2.5 percent, while JPMorgan saw its stock gain over 4 percent.
The Dow component said first-quarter earnings per share came in at $1.35, while revenue totaled $24.08 billion. Analysts had expected JPMorgan to report earnings of about $1.26 a share on $23.39 billion in revenue, according to a consensus estimate from Thomson Reuters.
Still, these totals mark a 6.7 percent year-over-year fall in EPS and a 3 percent drop in revenue.
2016 has not been a kind to bank stocks thus far. The SPDR S&P Bank ETF (KBE) has fallen more than 6 percent this year.
KBE year to date
