What's Going On With Wells Fargo Shares

Wells Fargo & Co WFC shares are trading higher by 1.2% to $45.28 Tuesday morning. The stock is trading higher on continued strength after the company last week reported better-than-expected second-quarter results. Wells Fargo shares are also gaining amid earnings results from several peer banks on Tuesday.

What's Going On With Peer Banks?

Bank of America on Tuesday announced a notable year-over-year net income growth of 19% for the second quarter of FY23, reaching $7.4 billion. During the same period, earnings per share (EPS) amounted to 88 cents, surpassing the previous year's figure of 73 cents and exceeding the consensus estimate of 84 cents.

Furthermore, Bank of America's revenue exhibited an 11% year-on-year increase, reaching $25.33 billion, surpassing the analyst consensus estimate of $25.05 billion...Read More

According to data from Benzinga Pro, WFC has a 52-week high of $48.84 and a 52-week low of $35.25.