CNBC Televisionยท2025-10-28 20:02Company Focus & Stock Performance - Wells Fargo Securities highlights Citigroup as its dominant number one pick, citing a potential "once in a generation restructuring" [2] - Citigroup's stock is up approximately 43-44% year-to-date [4] - JP Morgan's market cap is over 800 billion, with expectations of becoming a trillion-dollar market cap bank [6] - Bank of America is having its first investor day in 15 years, anticipating an increased return target [8] - Bank of America's stock has underperformed compared to peers year-to-date [11] Financials & Operations - Citigroup possesses "worst-in-class returns, efficiency, and stock market valuation" but also a "best-in-class global payments business" moving $5 trillion daily [3] - JP Morgan spends $18 billion annually on technology, equivalent to the entire expense base of the fifth-largest bank [7] - Bank of America has had 14% returns this decade, with a new target expected between 16-18% [8][9] Strategic Outlook - The analyst's theme is "Goliath is winning," favoring large-scale banks like JP Morgan and Bank of America [6][7] - Bank of America's investor day aims to showcase growth potential and better monetization of its franchise [9] - Investors perceive Bank of America as the "forgotten Goliath," prompting the investor day to highlight its strengths in US consumer banking and global investment banking [12]