Chillin' out till it needs to be funded
These numbers hardly ever change for Wells Fargo across quarters, across years and across crises. $21 Bln in revenues:2 1.6, instead of 21.8, $1 in EPS , $1.03 from $1,02
For the year, the bank has an EPS of $4.15 on $23 Bln in Net Income and Revenues have grown another 2% on the play time clock to $86 Billion
Pre tax opre provision profits, i think a good measure of a bank’s profitability is $36 Billion for the year and is no great shakes, concerning this sort of stable revenues should mean a lot more flexibility in cutting expenses on overhead ratios that remain in the high 50s, and the stability in income remains a conscious earnings management exercise for the bank.
The bank’s earning call would thus be key to finding out its prospects after the markets open. Thebank has one of the lowest Tier I equity ratios in its peers.