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.
Wells Fargo & Co (NYSE:WFC, ETR:NWT) shares added more than 6% after the bank's third quarter earnings exceeded Wall Street's expectations. Adjusted earnings per share of $1.42 handily beat estimates of $1.28 but were down from $1.48 in the year-ago quarter.
The headline numbers for Wells Fargo (WFC) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Wells Fargo (WFC) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.27 per share. This compares to earnings of $1.39 per share a year ago.
CNBC's Leslie Picker reports on the bank's quarterly earnings results.
The San Francisco-based lender posted $11.69 billion in net interest income, a 11% decrease from the same quarter last year.