Wells Fargo's growth is restricted by an asset cap. The bank must enhance its practices and demonstrate consistent progress in quarterly reports, a process that could take years. Earnings per share growth is possible through share repurchases and improving operating results.
Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11).
The market liked what it saw in the quarterly releases from JPMorgan JPM and Wells Fargo WFC, even though Wells Fargo came up short on the top-line while JPMorgan beat both top- and bottom-line expectations.
Wells Fargo's Q3 earnings exceeded expectations, and management is doing a great job despite regulatory constraints. Despite impressive Q3 results, I don't see much additional upside over the next 6-12 months. Falling interest rates have a significant negative impact on profitability.
Gabelli Funds Portfolio Manager Macrae Sykes reacts to JPMorgan's and Wells Fargo's earnings and discusses the outlook for bank earnings on "Bloomberg The Close." Sign up for Matt Levine's Money Stuff, a newsletter about Wall Street, finance and other stuff: Click Here -------- More on Bloomberg Television and Markets Like this video?
As big banks are set to report their third quarter earnings, Gabelli Funds portfolio manager Macrae Sykes joins Catalysts to discuss his top picks in the sector. Sykes points to Wells Fargo (WFC) as one of his top holdings, explaining that the bank has underperformed since it became subject to an asset cap in 2018.
Higher non-interest income and a decline in non-interest expenses support WFC's third-quarter 2024 results. A decline in NII is a spoilsport.
U.S. stocks traded higher midway through trading, with the Dow Jones index gaining around 250 points on Friday.
Wells Fargo & Company (WFC) Q3 2024 Earnings Call Transcript
Michael Santomassimo, Wells Fargo CFO, joins 'Money Movers' to discuss the story with the company's quarter, how the company is gaining market share, and much more.
Banking giant Wells Fargo & Co (NYSE:WFC) is one of several big finance firms that are fresh off an early morning earnings report.
Wells Fargo (WFC) shares rose roughly 6% Friday morning after the bank reported better-than-expected third-quarter revenue and profit.