Wells Fargo shares jump after earnings beat, strong 2025 guidance
Published On Jan 15, 2025, 7:07 AM
Wells Fargo reported better-than-expected earnings for Q4 2024, with an adjusted earnings per share (EPS) of $1.58, compared to the expected $1.35. The bank's net income rose 47% to $5.1 billion. Although revenue decreased slightly to $20.38 billion, it was still expected to be around $20.59 billion. Looking ahead, Wells Fargo forecasts a 1% to 3% increase in net interest income for 2025. Following the release of this positive news, Wells Fargo's stock rose over 5%.
Stock Forecasts
WFC
Positive
Wells Fargo's strong earnings and optimistic guidance for 2025 suggest a healthy growth trajectory for the bank. The significant increase in net income and the bank's plan to return capital to shareholders indicates robust performance. Investors may find the stock attractive as it shows foundational strength and potential for further growth.
Related News
9 questions we want answered when our 3 financial names report earnings Wednesday
Jan 14, 2025, 3:23 PM
Wells Fargo, Goldman Sachs and BlackRock will all post Q4 results before the bell.
CFPB Sues Big Banks Over Rampant Fraud on Zelle
Dec 20, 2024, 12:34 PM
Action against Bank of America, JPMorgan Chase and Wells Fargo may not survive President-elect Donald J. Trump’s return to office.
CFPB sues JPMorgan Chase, Bank of America and Wells Fargo over Zelle payment fraud
Dec 20, 2024, 10:04 AM