Wells Fargo first-quarter earnings fell to $3.67 billion, or 88 cents a share, from $4.64 billion, or $1.02 a share, in the year-ago quarter. However, the figure was higher than the 81 cents expected by analysts.
Revenue fell to $17.59 billion from $18.53 billion in the year-ago quarter, missing the expectations of $17.78 billion (according to FactSet).
Average loans were $898 billion, were up +3% year-over-year, and about +3% quarter-over-quarter.
Mortgage banking income of the bank came in at $693 million in the first quarter, - $1.3 billion lower from a year ago. Analysts polled by StreetAccount expected $880 million in mortgage banking income.
WFC moved above its 50-day moving average on October 04, 2024 date and that indicates a change from a downward trend to an upward trend. In of 38 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on October 04, 2024. You may want to consider a long position or call options on WFC as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for WFC just turned positive on September 20, 2024. Looking at past instances where WFC's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
The 10-day moving average for WFC crossed bullishly above the 50-day moving average on October 02, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The 50-day moving average for WFC moved above the 200-day moving average on October 15, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where WFC advanced for three days, in of 318 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 244 cases where WFC Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 12 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WFC declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
WFC broke above its upper Bollinger Band on October 11, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. WFC’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 46, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.227) is normal, around the industry mean (0.958). P/E Ratio (11.928) is within average values for comparable stocks, (8.937). WFC's Projected Growth (PEG Ratio) (24.155) is very high in comparison to the industry average of (2.643). WFC has a moderately low Dividend Yield (0.023) as compared to the industry average of (0.054). P/S Ratio (2.595) is also within normal values, averaging (2.460).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a major bank
Industry MajorBanks