Wells Fargo (WFC - Get Report) reported earnings this morning, missed on the top, but beat on the bottom line. However, the most important thing for the company moving forward may be there new CEO, Charls Scharf, taking over next Monday, October 21st.
Jeff Marks, Senior Portfolio Analyst at ActionAlertsPLUS, broke down what to expect from Scharf:
"It takes a lot of time for a new CEO to come in and sort of shake things up, especially with an institution like a banking institution like Wells Fargo. But I think you'll have a good story to tell. I think he'll lay out a good vision, when he does. You know, , Charlie Scharf, he won't be associated with some of the, you know, some of the transgressions that occurred at Wells Fargo previously, brand new face. So yeah, I think he'll have a good story to tell down the line."
Watch the video above to see what else Marks had to say about Well Fargo and the other banks that reported earnings this morning.
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