Wells Fargo Reports $5.3 Billion in Quarterly Net Income
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FBR Capital Reiterates Market Perfrm on Wells Fargo (WFC) Following 4Q Miss
January 17, 2017 7:21 AM ESTFBR Capital reiterated a Market Perform rating and $55.00 price target on Wells Fargo (NYSE: WFC) following the company's 4Q earnings report. WFC reported EPS of $0.96, missing FBR's estimate of $1.01 and the Street estimate of $1.00. The miss was largely driven by non-interest revenue dipping 11.5% quarter over quarter. As a result, the efficiency ratio spiked to 61.2%, up 180 bps from the third quarter.
Analyst Paul... More
