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BUZZ-PREVIEW: Wells Fargo seen reporting rev rise, net interest income drop in results Wed

ReutersJan 14, 2025 8:12 PM

** Shares of Wells Fargo & Co WFC.N are up 0.5% in afternoon trading Tues, with the bank expected to report slightly higher qrtly rev when it releases results before the bell Wed but a drop in net interest income

** Analysts expect qrtly rev of $20.59 bln vs $20.48 bln in the yr-ago qtr, while they estimate EPS of $1.35/shr vs $1.29 a yr ago, according to LSEG

** They forecast a roughly 8% fall in net interest income for Q4 2024 vs yr ago

** On Tues, a U.S. banking regulator announced it had fined three former executives at Wells Fargo for their roles in the bank's long-running fake accounts scandal

** Analyst recommendations on Wells Fargo's stock include 16 "strong buy" or "buy" ratings, 11 "hold" ratings and no "sell" or "strong sell" ratings, based on LSEG data

** The median PT on the stock is $81; the stock was last at $70.87

** U.S. bank shares have risen in the wake of U.S. President elect Donald Trump's Nov. 5 election win amid expectations of a looser regulatory environment

** For 2025 so far, WFC is up 0.9% while the S&P 500 .SPX is down 1.1% for that period

(Reporting by Caroline Valetkevitch)

((caroline.valetkevitch@thomsonreuters.com))

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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