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.
Portugal Últimas Notícias, Portugal Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Fonte: nbcsandiego - 🏆 524. / 51 Consulte Mais informação »
Fonte: nbcchicago - 🏆 545. / 51 Consulte Mais informação »
Fonte: WSJ - 🏆 98. / 63 Consulte Mais informação »
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »
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.
Fonte: CNBC - 🏆 12. / 72 Consulte Mais informação »