Financial Performance - Wells Fargo reported $20.38 billion in revenue for Q4 2024, a year-over-year decline of 0.5% [1] - EPS for the quarter was $1.42, compared to $1.29 a year ago, representing a 10.1% increase [1] - Revenue missed the Zacks Consensus Estimate by -0.85%, while EPS exceeded expectations by +5.97% [1] Key Metrics Analysis - Average Balance - Total interest-earning assets: $1,756.36 billion, slightly above the $1,754.22 billion estimate [4] - Net interest margin on a taxable-equivalent basis: 2.7%, matching analyst estimates [4] - Return on assets (ROA): 1.1%, in line with analyst expectations [4] - Net loan charge-offs as a % of average total loans (annualized): 0.5%, matching estimates [4] - Return on equity (ROE): 11.7%, outperforming the 10.9% estimate [4] - Book value per common share: $48.85, slightly below the $49.65 estimate [4] - Total nonperforming assets: $7.94 billion, better than the $8.66 billion estimate [4] - Efficiency Ratio: 66%, slightly higher than the 65.1% estimate [4] - Net loan charge-offs: $1.21 billion, better than the $1.23 billion estimate [4] - Total nonaccrual loans: $7.73 billion, better than the $8.51 billion estimate [4] - Allowance for loan losses as a percentage of total loans: 1.6%, matching estimates [4] - Common Equity Tier 1 (CET1) - Standardized Approach: 12.4%, significantly higher than the 11.3% estimate [4] Stock Performance and Market Position - Wells Fargo shares returned +0.5% over the past month, outperforming the Zacks S&P 500 composite's -3.3% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Earnings Performance - Wells Fargo reported quarterly earnings of $1.42 per share, beating the Zacks Consensus Estimate of $1.34 per share, representing a 5.97% earnings surprise [1] - This compares to earnings of $1.29 per share a year ago [1] - In the previous quarter, the company delivered a 19.69% earnings surprise with $1.52 per share against an estimate of $1.27 [1] - Over the last four quarters, the company has surpassed consensus EPS estimates four times [2] Revenue Performance - Wells Fargo posted revenues of $20.38 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 0.85% [2] - This compares to year-ago revenues of $20.48 billion [2] - The company has topped consensus revenue estimates two times over the last four quarters [2] Stock Performance and Outlook - Wells Fargo shares have added about 1.4% since the beginning of the year, outperforming the S&P 500's decline of -0.7% [3] - The current consensus EPS estimate is $1.19 on $20.63 billion in revenues for the coming quarter and $5.57 on $83.77 billion in revenues for the current fiscal year [7] - The estimate revisions trend for Wells Fargo is favorable, translating into a Zacks Rank 1 (Strong Buy) [6] Industry Context - Wells Fargo belongs to the Zacks Financial - Investment Bank industry, which is currently in the top 5% of the 250 plus Zacks industries [8] - The top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - Tradeweb Markets (TW), another stock from the same industry, is expected to report quarterly earnings of $0.75 per share, representing a year-over-year change of +17.2% [9] - The consensus EPS estimate for Tradeweb Markets has been revised 1.3% lower over the last 30 days [9] - Tradeweb Markets' revenues are expected to be $456.5 million, up 23.4% from the year-ago quarter [10]

About the Author and Publisher - Oliver Haill has been writing about companies and markets since the early 2000s, with a focus on AIM companies and small caps before transitioning to roles as a section editor and head of research [1] - Proactive provides fast, accessible, and actionable business and finance news content to a global investment audience, produced independently by experienced and qualified news journalists [2] - The company has bureaus and studios in key finance hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Expertise and Coverage - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The team delivers news and unique insights across various sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Use of Technology - Proactive is a forward-looking and enthusiastic adopter of technology, equipping its human content creators with decades of expertise and experience [4] - The company occasionally uses automation and software tools, including generative AI, but all content is edited and authored by humans in line with best practices for content production and SEO [5]

Wells Fargo (WFC) shares climbed in pre-market trading Wednesday after the bank reported fourth-quarter profit and net interest income that topped analysts' estimates. The lender reported $5.08 billion in net income for the quarter, up from $3.45 billion last year and above analysts' expectations. Revenue lagged estimates at $20.38 billion, down from $20.48 billion a year ago. The bank had been expected to post fourth-quarter net income of $4.83 billion and revenue of $20.53 billion, according to consensus ...

Wells Fargo shares climbed Wednesday after the bank reported better-than-expected earnings and issued strong guidance on net interest income for 2025.Here's what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Adjusted earnings per share: $1.42 vs. $1.35 expectedRevenue: $20.38 billion versus $20.59 billion expectedNet income of $5.1 billion, or $1.43 per diluted common share, came in 47% higher than the figure from the fourth quarter in the year prior.T ...

Financial Performance - Total revenue for Q4 2024 was $20,378 million, showing no significant change from Q3 2024 and a slight decrease of 0.5% from Q4 2023[4] - Wells Fargo's net income for Q4 2024 was $5,079 million, a decrease of 1% from Q3 2024 and an increase of 47% from Q4 2023[4] - Diluted earnings per common share rose to $1.43, reflecting a 1% increase from Q3 2024 and a 66% increase from Q4 2023[4] - Net income for Q4 2024 was $5,079 million, a 3% increase compared to the previous year[11] - The company reported a total revenue of $82,296 million for the year 2024, a slight decrease from $82,597 million in 2023[11] - Net income for the year ended December 31, 2024, was $19,722 million, down from $19,142 million in 2023, showing a decline in profitability[23] - The company reported a 3% increase in net income applicable to common stock for the year ended December 31, 2024, totaling $18,606 million[61] Income and Expenses - Noninterest expense increased by 6% from Q3 2024 to $13,900 million, and decreased by 12% compared to Q4 2023[4] - Total noninterest expense for 2024 was $54,598 million, a slight decrease of 2% from 2023[11] - Noninterest income for the quarter was $8,542 million, a decrease from $8,676 million in the previous quarter[19] - Total noninterest income for the Consumer Banking and Lending segment was $7,898 million in 2024, a 2% increase from $7,734 million in 2023[27] - Noninterest income in the Wealth and Investment Management segment rose by 12% year-over-year to $11.963 billion, compared to $10.725 billion in 2023[40] Loans and Credit Losses - The provision for credit losses was $1,095 million, a 3% increase from Q3 2024 and a 15% decrease from Q4 2023[4] - Provision for credit losses decreased by 20% year-over-year to $4,334 million[11] - The company reported a net charge-off of $3,546 million for the year ended December 31, 2024, an increase of 27% from $2,784 million in 2023[27] - Total net loan charge-offs for the quarter ended December 31, 2024, were $1,211 million, representing an increase of $100 million from the previous quarter[44] - The allowance for loan losses slightly increased by 1% to $14,183 million from $14,330 million[14] Assets and Liabilities - Total assets as of December 31, 2024, were $1,929,845 million, showing no percentage change from the previous quarter[14] - Total liabilities increased by 1% to $1,748,779 million from $1,737,114 million in the previous quarter[14] - Total equity decreased by 2% to $181,066 million from $185,011 million in the previous quarter[14] - The tangible common equity as of December 31, 2024, was $135.628 billion, down 3% from the previous quarter and down 4% year-over-year[59] Deposits - Average deposits increased by 1% from Q3 2024 to $1,353,836 million, and remained stable compared to Q4 2023[8] - Total deposits increased by 2% quarter-over-quarter to $1,371,804 million, compared to $1,349,646 million[14] - Total deposits increased by 18% year-over-year to $205.077 billion, up from $173.117 billion[39] Capital Ratios - Common Equity Tier 1 (CET1) ratio under the Standardized Approach was 11.1%, down from 11.3% in Q3 2024[8] - Common Equity Tier 1 (CET1) ratio under the Standardized Approach was 11.1% as of December 31, 2024, compared to 11.4% a year prior[63] - Total risk-weighted assets (RWAs) under the Standardized Approach were $1,215.8 billion as of December 31, 2024, slightly down from $1,231.7 billion a year earlier[63] Segment Performance - Consumer Banking and Lending segment reported a net interest income of $28,303 million for the year ended December 31, 2024, down 6% from $30,185 million in 2023[27] - Net interest income in the Commercial Banking segment decreased to $2,248 million, down 11% from $2,525 million year-over-year[34] - Total revenue for the Commercial Banking segment declined to $12,778 million, a 5% decrease from $13,449 million year-over-year[34] - Net income for the Corporate and Investment Banking segment was $1.580 billion, a decrease of 21% from the previous quarter but an increase of 14% year-over-year[37] Customer Metrics - Digital active customers increased to 36.0 million, a 3% increase from 34.8 million year-over-year[29] - Debit card purchase volume increased to $131.0 billion, a 3% increase from $126.1 billion year-over-year[29] Trading and Investment - Investment banking fees surged by 62% year-over-year, reaching $2,665 million in 2024[11] - Net gains from trading activities for the quarter ended December 31, 2024, were $950 million, reflecting a 34% decrease from the previous quarter, but a 10% increase year-over-year[56]

As both JPMorgan Chase & Co JPM and Wells Fargo & Co WFC prepare to release their fourth quarter earnings on Wednesday before the market opens, the spotlight's on their technicals. Investors are betting big on both, but only one can come out on top when the numbers drop. Let's take a quick spin through the charts and see who's in the driver's seat ahead of the big reveal.JPM Stock: Strong Bullish MomentumJPM stock is cruising, and it's not just the bull market that's pushing it. Chart created using Benzing ...

In its upcoming report, Wells Fargo (WFC) is predicted by Wall Street analysts to post quarterly earnings of $1.34 per share, reflecting an increase of 3.9% compared to the same period last year. Revenues are forecasted to be $20.49 billion, representing a year-over-year increase of 0.1%.Over the last 30 days, there has been an upward revision of 0.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial ...

Wells Fargo & Company (WFC) is slated to report fourth-quarter 2024 results on Jan. 15, 2025, before market open. Among Wells Fargo’s close peers, JPMorgan (JPM) and Citigroup Inc. (C) are also slated to announce quarterly numbers on Jan. 15. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.WFC’s third-quarter performance benefited from higher non-interest income.  However, the decrease in net interest income (NII) was spoilsport. This time, we believe the company’s performance will ...

Key Appointments and Leadership Changes - Wells Fargo has hired Ed Olebe, former head of JPMorgan Chase's branded credit card business, to lead its credit card business [1] - Olebe will replace Ray Fischer, who is retiring [1] - Fischer was previously tasked by CEO Charlie Scharf to revamp and expand Wells Fargo's credit card business after Scharf became CEO in 2019 [2] Credit Card Business Strategy - Growing the credit card business has been a key focus for Wells Fargo CEO Charlie Scharf [2] - The bank has added more of its own credit cards under Fischer's leadership [2] - Wells Fargo's credit card business has been less affected by regulatory control improvements compared to other businesses [2] Co-Branded Credit Card Partnerships - Wells Fargo and Bilt denied reports of trouble in their co-branded credit card relationship [3] - The partnership, launched in 2022, allows users to pay rent while earning rewards points [3] - The Wall Street Journal reported in June that Wells Fargo was losing up to $10 million monthly on the program due to incorrect revenue projections [4] - Wells Fargo was negotiating its arrangement with Bilt and reportedly did not plan to renew the contract set to end in 2029 [4] New Product Launches - In May, Wells Fargo launched the Signify Business Cash Worldwide Elite Mastercard, a business credit card offering unlimited 2% cash rewards on business purchases [5] - The card has no annual fee, no caps, and no categories to track, addressing business owners' concerns about the complexity of cash rewards programs [5]