Wells Fargo shares gained nearly 15% so far this year ahead of its fourth-quarter earnings, which is expected to enjoy better loan activity and a higher net interest income than that seen in early last year due to favorable industry trends.
The fourth-largest U.S. lender is expected to report its fourth-quarter earnings of $1.11 per share, which represents a year-on-year growth of over 70% from $0.64 per share seen in the same period a year ago.
The San Francisco, California-based multinational financial services company would post revenue growth of more than 4% to $18.8 billion.
Wells Fargo shares rose over 1% to $55.35 on Monday. The stock jumped nearly 15% so far this year after surging nearly 60% in 2021.
Analyst Comments:
“Wells Fargo (WFC) benefit to EPS from rising rates is the highest in the group, with each 50bps increase in FF driving 15% increase in EPS; 50bps in long-end rates drives 7% to EPS. WFC is in a strong.
The fourth-largest U.S. lender is expected to report its fourth-quarter earnings of $1.11 per share, which represents a year-on-year growth of over 70% from $0.64 per share seen in the same period a year ago.
The San Francisco, California-based multinational financial services company would post revenue growth of more than 4% to $18.8 billion.
Wells Fargo shares rose over 1% to $55.35 on Monday. The stock jumped nearly 15% so far this year after surging nearly 60% in 2021.
Analyst Comments:
“Wells Fargo (WFC) benefit to EPS from rising rates is the highest in the group, with each 50bps increase in FF driving 15% increase in EPS; 50bps in long-end rates drives 7% to EPS. WFC is in a strong.