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The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Citigroup and the rest of the diversified banks stocks fared in Q4.

At their core, diversified banks take in deposits and engage in various forms of lending, which means revenue is generated through interest rate spreads (difference between loan and deposit rates) and fees. Other revenue comes from adjacent services such as wealth management, card and account fees, and products such as annuities. These institutions benefit from rising interest rates that improve NIMs (net interest margins), digital transformation reducing operational costs, and expanding wealth management services as populations age. However, they face headwinds including fintech competition disrupting traditional models (how disruptive is crypto?), stringent regulatory requirements increasing compliance costs, and cybersecurity threats requiring substantial technology investments. Economic downturns also pose risks through potential loan defaults and compressed margins during accommodative monetary policy periods.

The 7 diversified banks stocks we track reported a mixed Q4. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Weakest Q4: Citigroup

With operations in nearly 160 countries and a history dating back to 1812, Citigroup is a global financial services company that provides banking, investment, wealth management, and payment solutions to consumers, corporations, and governments.

Citigroup reported revenues of $19.9 billion, up 2.1% year on year. This print fell short of analysts’ expectations by 2.7%. Overall, it was a slower quarter for the company with a significant miss of analysts’ revenue and EPS estimates.

Citigroup delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. Unsurprisingly, the stock is down 1.2% since reporting and currently trades at $114.94.

Read our full report on Citigroup here, it’s free.

Best Q4: PNC Financial Services Group

Tracing its roots back to 1852 when Pittsburgh's industrial boom demanded stronger financial institutions, PNC is a diversified financial institution that provides retail banking, corporate banking, and asset management services through a coast-to-coast branch network.

PNC Financial Services Group reported revenues of $6.10 billion, up 9% year on year, outperforming analysts’ expectations by 2.2%. The business had a very strong quarter with a solid beat of analysts’ tangible book value per share estimates and a beat of analysts’ EPS estimates.

PNC Financial Services Group pulled off the fastest revenue growth among its peers. The market seems content with the results as the stock is up 3.3% since reporting. It currently trades at $222.09.

JPMorgan Chase

Tracing its roots back to 1799 when its earliest predecessor was founded by Aaron Burr, JPMorgan Chase is a leading financial services company offering investment banking, consumer banking, commercial banking, and asset management services globally.

JPMorgan Chase reported revenues of $46.77 billion, up 6.9% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and tangible book value per share in line with analysts’ estimates.

As expected, the stock is down 5.8% since the results and currently trades at $305.75.

Read our full analysis of JPMorgan Chase’s results here.

Wells Fargo

Founded during the California Gold Rush in 1852 to provide banking and express delivery services to miners and merchants, Wells Fargo is a diversified financial services company that provides banking, lending, investment, and wealth management services to individuals and businesses.

Wells Fargo reported revenues of $21.37 billion, up 4.4% year on year. This print lagged analysts' expectations by 1.3%. It was a slower quarter as it also recorded a slight miss of analysts’ revenue estimates and a slight miss of analysts’ net interest income estimates.

The stock is down 3.4% since reporting and currently trades at $90.35.

Read our full, actionable report on Wells Fargo here, it’s free.

U.S. Bancorp

With roots dating back to 1863 and a presence across 26 states primarily in the Midwest and West, U.S. Bancorp is one of America's largest banks providing lending, deposit services, wealth management, payment processing, and merchant services to individuals and businesses.

U.S. Bancorp reported revenues of $7.36 billion, up 5% year on year. This number topped analysts’ expectations by 0.5%. Taking a step back, it was a mixed quarter as it also produced a narrow beat of analysts’ net interest income estimates but a slight miss of analysts’ tangible book value per share estimates.

The stock is up 3.1% since reporting and currently trades at $56.11.

Read our full, actionable report on U.S. Bancorp here, it’s free.