|Bid||13.34 x 900|
|Ask||0.00 x 900|
|Day's Range||26.66 - 26.66|
|52 Week Range||22.76 - 27.15|
|Beta (3Y Monthly)||1.11|
|PE Ratio (TTM)||5.50|
|Forward Dividend & Yield||1.41 (5.28%)|
|1y Target Est||N/A|
Wells Fargo & Co.'s third-quarter earnings were lower than expected as the San Francisco-based bank continues to grapple with the fallout from a three-year-old fake accounts scandal.
JPMorgan earnings easily beat Q3 views, while Goldman Sachs earnings missed. Citigroup and Wells Fargo earnings were mixed. JPMorgan stock and Citigroup stock rose into a buy zone.
Quarterly results from four of the largest U.S. banks on Tuesday showed that American consumers are helping to prop up the economy, even as recession fears have led businesses to pull back on spending and borrowing. JPMorgan Chase & Co posted strength across all but one of its segments, and executives offered optimistic comments about the financial health of individuals. Citigroup beat estimates thanks to its global consumer business.
Investing.com – Wells Fargo (NYSE:WFC) posted third-quarter earnings that fell short of expectations, but sentiment on the bank received a boost after management in a post-earnings call delivered a more somber outlook on net interest income.
Wells Fargo stock dipped in early morning trading after the bank’s earnings came in below expectations, but its revenue was slightly higher than consensus. (WFC) stock (ticker: WFC) slipped 0.8% in Tuesday morning trading. Wells’ per-share earnings took a net hit of 15 cents when accounting for litigation costs and the sale of its retirement and trust business.
Earnings from JPMorgan, J&J; and United Health lifted the Dow Jones today, as stocks powered into the start of the Q3 reporting season.
If you’re wondering whether environmental, social and governance (ESG) investing is taking off, consider this: the term ESG was used during 100% more S&P 500 corporate earnings calls in the second quarter of 2019 compared with the first quarter, according to FactSet. And while the actual number of mentions was only 24 (compared with 12 in the prior quarter), if the pace of change continues, by mid-2020 roughly 20% of calls will proactively cite nonfinancial, ESG data. Bank of America Merrill Lynch recently predicted that up to another $20 trillion could be invested in ESG funds over the next three decades.
Stocks rose Tuesday as some of the first major corporate names began delivering third-quarter results. Meanwhile, investors continued to monitor signs that President Donald Trump’s “phase one” trade deal with China would materialize.
JPMorgan Chase & Co. (NYSE: JPM ) shares were trading higher Tuesday after the bank posted third-quarter EPS of $2.68, beating the $2.45 Street estimate, and sales of $29.3 billion, which topped the analyst ...
Low interest rates and the reputational impact of the fake accounts scandal continue to constrain growth at the bank. Its large lending portfolio is particularly sensitive to falling rates, and net interest income fell by almost $1bn from last year’s third quarter, to $11.6 billion — short of analysts target of $11.8bn. The bank newly appointed chief executive, former Bank of New York Mellon chief executive Charles Scharf, has not yet assumed the role.
Wells Fargo & Co.'s earnings took a hit in the third quarter, as net income dropped by 23% year over year.
Shares of Wells Fargo & Co. lost 0.6% in premarket trading Tuesday, after the bank reported third-quarter profit that missed expectations, while revenue surprisingly rose. Net income fell to $4.61 billion, or 92 cents a share, from $6.01 billion, or $1.13 1 share, in the same period a year ago. The latest quarter's earnings per share included a 35-cent litigation accrual and a 20-cent gain on the sale of assets. The FactSet EPS consensus was $1.24. Total revenue rose to $22.01 from $21.94 billion, while the FactSet consensus was for a decline to $21.09 billion. Net interest income fell 7.5% to $11.6 billion, to miss the FactSet consensus of $11.7 billion, while noninterest income rose 11% to $10.4 billion to beat expectations of $9.6 billion. Net interest margin declined to 2.66% from 2.94%, missing expectations of 2.68%. The stock has rallied 5.5% over the past three months through Monday, while the SPDR Financial Select Sector ETF has slipped 1.7% and the S&P 500 has eased 1.6%.
This is the third former market president Pinnacle has snagged from one of its competitors in as many years.
Wells Fargo & Company released its third-quarter results Tuesday morning. In the daily bar chart of WFC, below, we can see that prices have been in a sideways trading range since December. The daily On-Balance-Volume (OBV) line has been moving sideways since April and is turning to the upside and very close to a new high for the move up.
Stocks finish near record highs Tuesday as strong earnings reports from JPMorgan Chase, UnitedHealth and Johnson & Johnson override investors' lingering questions about the fate of U.S.-China trade talks.
Investing.com - Wells Fargo &Co; (NYSE:WFC) reported third quarter earnings that missed analysts' expectations on Tuesday and revenue that topped forecasts.