Wells Fargo Reports Earnings Friday. It's All About Rates and Yields.

Wells Fargo is scheduled to report earnings Friday morning, providing insight on how interest rates and rising Treasury yields have impacted banks.

Net interest income for the quarter is also expected to increase. Analysts are expecting it to clock in at $12.73 billion, higher than last year’s $12.1 billion. Higher interest rates fatten a bank’s spread between what it pays depositors for their money and what it can charge for loans. The Federal Reserve has increased interest rates 11 times in an effort to fight historically high inflation.

“The prospects of interest rates remaining higher for longer has recently pushed Treasury yields higher and bank stocks lower,” Keefe, Bruyette & Woods analyst Christopher McGratty wrote in a research note last week. Wells Fargo stock has declined 4.3% this year.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bank earnings kick off with JPMorgan, Wells Fargo amid concerns about rising rates, bad loansHigher rates are expected to lead to a jump in losses on banks’ bond portfolios and contribute to funding pressures.
La source: nbcsandiego - 🏆 524. / 51 Lire la suite »

Bank earnings kick off with JPMorgan, Wells Fargo amid concerns about rising rates, bad loansHigher rates are expected to lead to a jump in losses on banks’ bond portfolios and contribute to funding pressures.
La source: nbcchicago - 🏆 545. / 51 Lire la suite »

Are High Rates Taking a Toll on Consumers? Bank Earnings Will Provide a ClueJPMorgan, Wells Fargo and Citigroup are set to kick off third-quarter bank results Friday
La source: WSJ - 🏆 98. / 63 Lire la suite »

Walgreens Reports Earnings Thursday. What to Expect.Wall Street analysts expect the company to report fourth quarter earnings of $0.69 per share, down from $0.80 in the same quarter last year.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

These 3 bank stocks are Wall Street's favorites heading into earnings reports for the industryBanks have been feeling the pressure against the backdrop of higher interest rates, but these three names could emerge as winners this earnings season.
La source: CNBC - 🏆 12. / 72 Lire la suite »