Wells Fargo Falls as Revenue Misses Wall Street's Estimates
- CFO cites higher first-quarter ‘personnel-related expenses’
- Bank collects least mortgage revenue in the past two years
Wells Fargo Sees Customers as 'Generally Optimistic' Now
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Wells Fargo & Co. fell after reporting first-quarter revenue that missed analysts’ estimates as the lender’s troubled community bank weighed on results.
Wells Fargo shares slid 3 percent to $51.53 at 1:08 p.m. in New York, the lowest since Nov. 29 and the worst performance in the 65-company S&P 500 Financials Index. The stock has dropped 6.4 percent this year.