Wells Fargo Earnings: What to Watch for
Today, Anand discusses the upcoming earnings report for Wells Fargo (Friday before market). Analysts expect an EPS of $0.90, a good improvement over last Q2's $0.81 a share. And really good considering that JPMorgan and Citigroup are expected to lose ground and Bank of America's report last year was a loss.
As competitors have faltered, Wells Fargo's made huge market share leaps in mortgage lending, making up a whopping third of the market. Anand's hunch is that we'll see good news this quarter from Wells, regardless of what its competition reports. Anand explains in the video below.
For contrarians, the financial sector's downfall could be a ripe area to pick winners. And no fallen angel is bigger than Bank of America. To get our senior bank analyst's thoughts on the sector, click here for Bank of America's premium investment report.
The article Wells Fargo Earnings: What to Watch for originally appeared on Fool.com.Anand Chokkaveluowns shares of Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase. He also owns long-dated options on Bank of America and warrants on Citigroup, Wells Fargo, and JPMorgan Chase. The Motley Fool owns shares of JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup. The Fool owns shares of and has created a covered strangle position in Wells Fargo.Motley Fool newsletter serviceshave recommended buying shares of The Goldman Sachs Group. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.