JPMorgan, Bank of America, Wells Fargo and Citi: the four biggest U.S. banks side by side

JPMorgan Chase, Bank of America, Wells Fargo and Citigroup are the four largest U.S. banks. At the October 27, 2026 close, JPMorgan was worth $891.7 billion — more than the other three combined: $350.7 billion for Bank of America, $248.1 billion for Wells Fargo and $203.1 billion for Citigroup. Bank revenue is reported net of interest expense: net interest income plus fees and other income.

Wells Fargo is the only one of the four with lower revenue in 2025 than in 2016. Its 2025 10-K mentions the removal of its asset cap in 2025. JPMorgan’s 2024 revenue included a $7.9 billion net gain related to Visa shares, which is why its 2025 revenue grew only 2.8%.

Where the money comes from

In 2025, JPMorgan’s Commercial & Investment Bank produced 43% of its segment revenue and its consumer bank 42%. Bank of America is more of a retail bank: Consumer Banking was 38%, with wealth management, global banking and markets at about 21–22% each. Consumer Banking and Lending was 45% of Wells Fargo’s revenue. Citi is split roughly in quarters among Services, Markets and U.S. Personal Banking, with Wealth and Banking near 10% each.

Measured by noninterest expense as a share of revenue — lower is better — JPMorgan was the most efficient in 2025 at 52.4%, followed by Bank of America at 61.7%, Citi at 64.7% and Wells Fargo at 65.5%.

The third quarter of 2026

Bank of America’s profit included a $1.2 billion regulatory settlement charge that is not tax deductible; excluding it, earnings would have been $1.08 a share, against $1.04 a year earlier. The release does not name the regulator. Citi’s comparison is flattered by its 2025 base, which included a $726 million goodwill impairment tied to the sale of a 25% stake in Banamex; excluding that, its earnings per share rose 27%. JPMorgan’s quarter included $658 million of investment securities losses.

Valuation

Citi trades closest to its tangible book value, 1.21 times, while investors pay almost three times tangible book for JPMorgan. Both JPMorgan and Bank of America hit their record closes on August 12, 2026; Bank of America is 21.8% below that level. Citi’s highest close in the Yahoo Finance series, adjusted for its 2011 one-for-ten reverse split, dates from August 2000, and the stock is 79% below it.

Dividends and $1,000 over 20 years

The four paid far smaller dividends in 2009 than in 2007. Bank of America went from $2.40 a share in 2007 to $0.04 in 2009, and stayed at that level until 2013. Citi’s dividend went from $2.16 a share in 2007 (as paid at the time, before the reverse split) to nearly zero. JPMorgan’s went from $1.44 to $0.53; it paid $5.55 in 2025.

Over ten years the picture is closer: JPMorgan turned $1,000 into $6,295, Bank of America into $3,746, Citi into $3,323 and Wells Fargo into $2,345, against $4,231 for the S&P 500.

Who owns them, and who traded

Warren Buffett’s Berkshire Hathaway held 483.4 million Bank of America shares at the end of June, worth $27.5 billion, after cutting the stake by 5.9% in the quarter. In JPMorgan, the largest positions among the 38 managers this site tracks belonged to Two Sigma, Andreas Halvorsen’s Viking and Cliff Asness’s AQR, each with about $0.9 billion.

No insider at any of the four banks bought shares in the open market in the twelve months to October 27, 2026. JPMorgan insiders sold $126.4 million, all marked as 10b5-1 plan sales, including $61.4 million by chief executive Jamie Dimon. Executives sold without a plan at Bank of America ($31.1 million), Citi ($23.0 million) and Wells Fargo ($10.1 million).

The figures come from the banks’ 10-K filings and XBRL data, their third-quarter 2026 earnings releases, and the 13F, Form 4 and Form 144 filings; prices are Yahoo Finance closes. They describe what happened; they are not a forecast and not investment advice.