Wells Fargo Hits 52-Week High: Is WFC Stock Worth Considering? [Yahoo! Finance]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: Yahoo! Finance
The stock has outperformed the industry and its peers like Bank of America Corporation BAC and Citigroup Inc . C in the same time frame. Image Source: Zacks Investment Research A major factor for this upward movement of WFC stock can be attributed to the Federal Reserve's recent interest rate cut, which is expected to drive near-term expansion in net interest income (NII) and net interest margin (NIM), supporting top-line growth. Also, the company's expense management activities are expected to support the bottom-line growth. Now let's find out if WFC stock has more upsides left despite hitting a 52-week high. Fed's Rate Cut to Aid NII : The Federal Reserve has begun reducing interest rates, with a 50-basis-point (bps) cut in September and an additional 25 bps cut on Nov. 7, 2024. These reductions, along with potential future rate cuts in the upcoming months, are expected to support NII as funding costs gradually stabilize and eventually decline. Wells Fargo's NII witnessed
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C
Earnings
- 10/16/24 - Beat
C
Sec Filings
- 11/21/24 - Form 424B2
- 11/21/24 - Form 424B2
- 11/21/24 - Form 424B2
- C's page on the SEC website