ES (S&P 500) S&P 500 correction is over. We not only managed to make ...
The American bank Wells Fargo, which occupies one of the leading positions in the US banking sector, has published its results in the fourth quarter of 2022.
Probably, we will have to mention every time that the data could have been worse, because the period turned out to be problematic. However, it is worth admitting that Wells Fargo has done well:
The mortgage lending sector was expected to be weak: business revenues from this side fell by 57.4% and amounted to $786 million. At the same time, the areas of corporate and consumer lending have revived, which have leveled this negative.
It is noteworthy that Wells Fargo has a good segment of commercial banking (+37.9%).
The volume of assets under management decreased by 14.8% to $1.86 trillion. But this is also expected and not surprising.
The bank has a sufficient amount of reserves in case of complications of the conjuncture, the parameters of the volume of assets and the loan portfolio do not scare.
The consensus forecast for Wells Fargo shares in the 6-month perspective is $48.
The MACD indicator on the daily trading chart of Wells Fargo shares is growing in the negative zone and signals a purchase. The Stochastic oscillator rises in the overbought area and confirms the buy signal.