Can Bank of America (NYSE:BAC), Goldman (NYSE:GS) Match JPMorgan (NYSE:JPM) When They Report Next Week?

With JPMorgan (NYSE:JPM) beating expectations in the last quarter, hopes are when Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) report next week more of the same continues.

It appears it'll be a mixed bag, with Goldman performing relatively well and Bank of America possibly missing expectations, largely because of their deal with Freddie Mac and Fannie Mae.

Under normal conditions JPMorgan usually sets the pace for what the earnings for the sector will be, but that can't be counted on this time around on the continuing pressures from the financial crisis.

There is still the probe in the foreclosure segment weighing on the banks, which Bank of America and JPMorgan may be the first to reach a settlement with the attorneys general from all 50 states.

Earnings for Bank of America, as mentioned, will definitely take a hit from the Fannie Mae and Freddie Mac settlement, which resulted in their EPS estimates to be lowered by a number of analysts; some of them fairly significantly.

Goldman should have a good report, which should offset the Bank of America news, although if BofA exceeds adjusted expectations, it could give a big boost to the financial sector.

Either way, performance last year in the same quarter was so dismal that all the banks will look much better, giving at least a temporary push to the industry.

Bank of America was trading at $15.23, up $0.47, or 3.22 percent. Goldman Sachs was trading at $174.47, up $2.90, or 1.69 percent. JPMorgan was at $45.50, gaining $1.05, or 2.36 percent.