Wells Fargo is scheduled to report fourth-quarter earnings before the market opens on Tuesday.
Here’s what Wall Street expects:
- Earnings: $1.16 cents per share, forecast by Refinitiv.
- Revenue: $21.73 billion, forecast by Refinitiv.
Wells Fargo is still working through its regulatory issues after the Federal Reserve reportedly rejected its plan to prevent more consumer abuses at the bank. It is also in the midst of a cost cutting plan, including the elimination of up to 10 percent of its headcount.
Investors are listening for what bank executives say about the direction of interest rates this year after four Federal Reserve rate hikes in 2018. They are also likely looking for guidance on 2019 revenue expectations given a probable slow down in U.S. economic growth. Rising short-term rates have narrowed the profits banks make of key activities like lending, and revenue from bond trading was lackluster at the end of last year.
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