We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wells Fargo (WFC) Q4 Earnings Beat on High Interest Income
Read MoreHide Full Article
Have you been eager to see how Wells Fargo & Company (WFC - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based money center bank’s earnings release this morning:
An Earnings Beat
Wells Fargo came out with adjusted earnings per share of $1.03, beating the Zacks Consensus Estimate of $1.00. Higher net interest income was primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Wells Fargo depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has decreased around 1% over the last 7 days.
However, Wells Fargo has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.50% in the trailing four quarters.
ROE (net income applicable to common stock to shareholders’ equity): 10.94%
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Wells Fargo. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Following the earnings release, Wells Fargo shares were down around 1% in the pre-trading session. This is in line to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have not considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Wells Fargo earnings report later!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Wells Fargo (WFC) Q4 Earnings Beat on High Interest Income
Have you been eager to see how Wells Fargo & Company (WFC - Free Report) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based money center bank’s earnings release this morning:
An Earnings Beat
Wells Fargo came out with adjusted earnings per share of $1.03, beating the Zacks Consensus Estimate of $1.00. Higher net interest income was primarily responsible for this earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Wells Fargo depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has decreased around 1% over the last 7 days.
However, Wells Fargo has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.50% in the trailing four quarters.
Wells Fargo & Company Price and EPS Surprise
Wells Fargo & Company Price and EPS Surprise | Wells Fargo & Company Quote
Revenue Came In Lower Than Expected
Wells Fargo posted revenues of $21.6 billion, lagging the Zacks Consensus Estimate of $22.4 billion. However, it was in line with the year-ago number.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Wells Fargo. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank stocks here.
How the Market Reacted So Far
Following the earnings release, Wells Fargo shares were down around 1% in the pre-trading session. This is in line to what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have not considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Wells Fargo earnings report later!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>