we have a 'sell on the news' panic right now. interesting. no position.
next quarters numbers will be even better. Next quarter loan losses will improve $500m and their revenue from mortgage banking is set to improve $200m .
Their efficiency ratio of about 57% was noticeably good.
I thought the numbers were good, and probably earnings could have been reported a penny or two higher.
Mgmt seems to want to appear pc, imo, and not show blowout earnings.
As opposed to JPM who has something to prove, about the whale trade.
Mr. S, I thought it was a pretty good quarter considering all the economic uncertainty out there.
WFC has the management team capable of managing thru this environment.