What to Expect From Wells Fargo's Upcoming Earnings Report
Wells Fargo (NYSE: WFC) stock had a great year in 2021, climbing nearly 59%, which not only outperformed the market but also the broader banking sector. The stock had been quite beaten down in 2020, so a rebound looked like all but a certainty.
Wells Fargo has gotten off to a nice start in 2022, and now the next potential catalyst could be earnings results for the fourth quarter of 2021 as well as full-year results, which are set to be released on Jan. 14. Analysts on average expect the bank to generate $1.09 in earnings per share (EPS) on total revenue of about $18.7 billion. For the full year, analysts on average expect $4.67 EPS on total revenue of $76.2 billion.
Wells Fargo, one of the largest commercial lenders in the country, has been ravaged for nearly two years by low interest rates and weak loan demand. The bank does not have the same kind of investment banking and capital market operations as JPMorgan Chase, Citigroup, and Bank of America, so it has felt the sting more than its competitors.
Source Fool.com
