What to Expect When Wells Fargo (WFC) Reports Q2 Results Friday

Wells Fargo (WFC) is scheduled to report its 2016 second quarter results before the opening bell on Friday.
By Kaya Yurieff ,

NEW YORK (TheStreet) -- Shares of Wells Fargo (WFC) - Get Report are decreasing 0.48% to $48.12 midday Wednesday ahead of the bank holding company's 2016 second quarter results due out before Friday's market open.

Wall Street is expecting the San Francisco-based firm to post earnings of $1.01 per share on revenue of $22.2 billion.

During the same quarter last year, Wells Fargo reported earnings of $1.03 per diluted share on revenue of $21.3 billion.

After yesterday's market close, the company said head of community banking Carrie Tolstedt has decided to retire at the end of July.

Tolstedt will be succeeded by Mary Mack, who currently is the president and head of Wells Fargo Advisors.

(Wells Fargo is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trialhere.)

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, expanding profit margins and attractive valuation levels. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: WFC

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