Wells Fargo Stock (WFC) Earnings Slip – Trade Alert – July 15 2016

Wells Fargo announced disappointing earnings this morning which dropped the stock 2% after the opening.

Wells Fargo Results

Second-Quarter earnings fell to $5.56 billion down from $5.72 billion for the same period last year.

This brought earnings down by 3 percent to $1.01 per share down from $1.03.

While the results met most analysts estimates Wells Fargo conceded that low-interest rates continue to hamper the bank’s growth.

Meanwhile they continue to pursue aggressive growth and have expanded lending with total loans up 8 percent to $957.2 billion.

Wells Fargo Net Interest Income Up 4 Percent

Meanwhile Wells Fargo’s net interest income was up 4 percent to $11.73 billion. Net interest margin which is how much Wells Fargo made from its lending business, fell again by 2.86 percent.

Wells Fargo Stock Trade Alert On Disappointing Earnings – July 15 2016

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