Wells Fargo & Company (NYSE:WFC) announced its earnings for the first quarter of 2012 today. The report showed the company collected revenue of $2.6 billion in Q1 and had an earnings pershare of $0.75 in the period. Consensus growth figures settled on earnings of around 73 cents per share in analyst forecasts. The company had huge growth 2011 but 2012 seems to be the year of full recovery and stability in the company’s business. The company posted earnings of $2.82 per share for the full year last year. In last years first quarter the company reported earnings of $.061 per share. Today’s figures put the company well ahead of where they were just one year ago.
Wells Fargo looks to remain on stable growth pattern for the year ahead. The company has risen in value by a great deal, having increased bu 1.19% on Thursday in anticipation of positive results in today’s figures. Wells Fargo was one of the banks that managed to have a solid 2011 and has continued its run into 2012. The company is doing a great job of minimizing its exposure to weaknesses in the market should be able to maintain a reasonable rate of growth throughout 2012.
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Wells Fargo looks to be a good one to invest in as the company recovers its value and the entire banking sector regains its pricing that it has been left bereft of since the financial crisis. At least for the short term the company is looking to increase in value and could be a good solid earner in future. As long as the US economy continues to recover at any rate at all the banking sector should maintain its growth. A stalll in the recovery would probably stymie the growth of the banks too and that is Wells Fargo’s greatest downside risk. Like last year Bank stocks are to be invested in with the US economy in mind.