NEW YORK (TheStreet) -- Wells Fargo and Co. (WFC) reported 2014 second quarter earnings of $5.7 billion in net income, or $1.01 per share, up 3% from the prior year's second quarter, and matching the consensus estimated EPS.
The bank reported a slight decline in revenue to $21.1 billion, from $21.4 billion for the 2013 second quarter.
Analysts were expecting Wells Fargo to report revenue of $20.8 billion as the bank's revenue have been decreasing consecutively for the past two quarters, Value Walk reports.
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Shares of Wells Fargo are lower by -0.60% to $51.81 in pre-market trading on Friday.
Separately, TheStreet Ratings team rates WELLS FARGO & CO as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate WELLS FARGO & CO (WFC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, increase in net income, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."WFC data by YCharts