Wells Fargo Earnings: What to Expect
As usual, Wells Fargo (along with JPMorgan Chase) will kick off big-bank earnings season. Both report on Friday before the market opens. Analysts expect $0.87 a share in earnings for Q3, versus $0.72 last year. That's a healthy 21% gain!
Motley Fool senior analyst Anand Chokkavelu expects Wells to deliver on the expectations based on its domination of the mortgage market these days. Over the first two quarters of 2012, it's taken up 33.1% of mortgage loan activity. Although rates are low, the spreads Wells and others are earning on mortgage-backed securities have been quite good.
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The article Wells Fargo Earnings: What to Expect 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 and has created a covered strangle position in Wells Fargo.Motley Fool newsletter serviceshave recommended buying shares of Goldman Sachs. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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