Wells Fargo's stock rises, after profit and revenue miss but NII beat [MarketWatch]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: MarketWatch
Shares of Wells Fargo & Co. rose 2.2% in premarket trading Tuesday, after the bank reported first-quarter profit and revenue that missed expectations, hurt by the effects of the COVID-19 pandemic, while net interest income and margin topped forecasts. Net income fell to $653 million, or 1 cent a share, from $5.86 billion, or $1.20 a share, in the year-ago period. Results were impacted by a $3.1 billion build in reserves for loans and debt securities. The FactSet consensus was for earnings per share of 38 cents. Total revenue fell to $17.72 billion from $21.61 billion, below the FactSet consensus of $19.40 billion. Net interest income declined 8% to $11.31 billion, but beat the FactSet consensus of $10.90 billion, as net interest margin fell to 2.58% from 2.91% but topped expectations of 2.48%. Nonperforming assets totaled $6.4 billion, down 13% from a year ago but up 13.4% from the fourth quarter. Community banking revenue declined 19.2% to $9.50 billion, amid net losses from equity s
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WFC
News
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- Cracks begin to appear at the biggest U.S. banks [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Wells Fargo & Company (NYSE:WFC) had its price target lowered by analysts at TD Cowen from $102.00 to $100.00. They now have a "hold" rating on the stock.MarketBeat
- Wells Fargo & Company (NYSE:WFC) had its "outperform" rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $100.00 price target on the stock.MarketBeat
- Wells Fargo & Company (NYSE:WFC) had its price target lowered by analysts at Evercore ISI from $110.00 to $105.00. They now have an "outperform" rating on the stock.MarketBeat
WFC
Earnings
- 1/14/26 - Miss
WFC
Sec Filings
- 1/16/26 - Form 424B2
- 1/16/26 - Form 424B2
- 1/16/26 - Form 424B2
- WFC's page on the SEC website