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An earnings beat by JPMorgan doesn't always bode well for its stock

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On Thursday morning, investors got a read on the health of the big financials after three of the largest U.S. banks, JPMorgan Chase, Wells Fargo and Citigroup reported first quarter earnings reports.

Higher costs and weaker mortgage revenue were to blame for Wells Fargo's mixed report as the nation's third-largest bank by assets is still struggling with the fallout over its sales scandal revealed last year.

Citigroup easily topped Wall Street's estimates, reporting earnings of $1.35 on revenue of $18.12 billion. The beat was driven by strong growth in the bank's consumer and institutional businesses.

Finally, JPMorgan reported earnings of $1.65 on revenue of $25.58 billion. The firm's trading revenue reached $6.52 billion, soaring past forecasts.

Since the end of the financial crisis, JPMorgan has topped first-quarter earnings estimates 88 percent of the time, with 2014 the only earnings miss - excluding this morning's report.

This is a great track record on paper, but in the short-term, it doesn't necessarily bode well for the stock.

Using hedge fund analytics tool Kensho, CNBC ran a study to see how JPMorgan performs in the week following its first quarter results.

Despite the high batting average for beats, JPMorgan has actually traded negatively 88 percent of the time in the following week, with an average loss of 1.43 percent—2016 logged the only positive return in that period.

The Financial SPDR (XLF) also tends to head lower in this period, trading negatively 63 percent of the time, with an average loss of 0.5 percent.

Disclosure: NBCUniversal, the parent of CNBC, is a minority investor in Kensho.