Wells Fargo Trades Lower On Q4 Earnings Miss

Wells Fargo WFC reported adjusted fourth-quarter earnings of 93 per cents share, which missed the analyst consensus estimate of $1.12 by 16.96 %. This is a 23.14% decrease over earnings of $1.21 per share from the same period last year.

The company reported fourth-quarter sales of $19.9 billion, which missed the analyst consensus estimate of $20.12 billion by 1.09%. This is a 5.15% decrease over sales of $20.98 billion the same period last year.

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Wells Fargo shares were trading down 2.9% at $50.56 in Tuesday’s pre-market session. The stock has a 52-week high of $54.75 and a 52-week low of $43.34.