Another earnings season unofficially began before the bell today, with Citigroup Inc (NYSE:C) and Wells Fargo & Co (NYSE:WFC) kicking the floodgates open.
Wells Fargo (WFC) on Tuesday lowered its outlook for net interest income, a key measure of profitability, sending shares lower in premarket trading.
Wells Fargo (WFC) came out with quarterly earnings of $1.54 per share, beating the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $1.33 per share a year ago.
Wells Fargo (NYSE:WFC) is scheduled to disclose its earnings on July 15, which will be the first earnings report since the Federal Reserve removed the bank's long-standing $1.95 trillion asset cap in late May. Although the removal of the asset cap is a substantial long-term benefit, its effect on Q2 results is expected to be minimal, as it will require time for Wells Fargo to increase lending, deposit acquisition, and other asset-generating activities.
Wells Fargo reportedly sees signs of an economic slowdown, with job creation slowing and inflation expected to rise.
With WFC asset cap lifted and Q2 earnings due, it may be poised for growth, but should investors wait to act? Let us find out.
Looking beyond Wall Street's top-and-bottom-line estimate forecasts for Wells Fargo (WFC), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2025.
JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) will kick-start the June-quarter reporting cycle for the Finance sector on July 15th. These banks comfortably passed the Fed's stress tests, opening the way for increased capital returns to shareholders through share buybacks and dividend hikes.
JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) will kick-start the June-quarter reporting cycle for the Finance sector on July 15th. These banks comfortably passed the Fed's stress tests, opening the way for increased capital returns to shareholders through share buybacks and dividend hikes.
Wells Fargo (WFC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Wells Fargo (WFC) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Wells Fargo hit an all-time high after passing the Fed stress test and raising its dividend by 12.5%, signaling renewed growth momentum. The removal of consent orders allows Wells Fargo to accelerate efficiency initiatives, expand wealth management, and reintroduce growth-focused incentive plans. Management is right-sizing the mortgage business while investing in commercial banking, positioning for profitability and market share gains.