Wells Fargo Hit Harder Than JPMorgan Amid Rising Rates

Citigroup Inc (NYSE:C) maintains its Buy rating on JPMorgan Chase & Co (NYSE:JPM) while retaining its Neutral rating on Wells Fargo & Co (NYSE:WFC), post their third quarter results. JPM’s solid performance despite enhanced litigation charges Keith Horowitz and the team at Citi commend the solid performance posted by J.P. Morgan despite providinga substantial amount towards litigation expenses. Last week, JPMorgan Chase & Co (NYSE:JPM) posted its first quarterly loss after Jamie Dimon took over as CEO. In a surprise announcement, JPMorgan Chase & Co (NYSE:JPM) declared a $380 million loss, entirely the product of $9.2 billion the bank has set…