Wells Fargo Reports First Quarter 2024 Financial Results
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Evercore ISI on Wells Fargo (WFC): 'Expenses miss is noteworthy'
April 12, 2024 8:13 AM EDTEvercore ISI analyst John Pancari reiterated an Outperform rating and $67.00 price target on Wells Fargo (NYSE: WFC)
The analyst comments "Core 1Q24 EPS $1.27 vs. EVR $1.10 and cons $1.11. Reported $1.20. Core EPS beat driven by higher non-II (+$0.22) and lower provision (+$0.09), partially offset by higher expenses... More
Goldman Sachs on Wells Fargo (WFC): 'EPS beat on stronger fee income, though focus is on unchanged NII guidance'
April 12, 2024 8:05 AM EDTGoldman Sachs analyst Richard Ramsden reiterated a Buy rating and $65.00 price target on Wells Fargo (NYSE: WFC)
The analyst comments "WFC reported 1Q24 EPS of $1.20, better than Visible Alpha Consensus Data/GSe of $1.01/$1.03, although excluding one-timers, core earnings per share appear to be $1.31, above Street/our like estimates of $1.26/$1.20. Key takeaway: We expect a mixed investor response to results, as the core PPNR of $7.5bn came in 6% above like Street PPNR, but the company guided... More
