Benzinga | Oct 15, 2021 10:17AM EDT

Why Wells Fargo Shares Are Rising

Wells Fargo & Co (NYSE:WFC) shares are trading higher amid strength in bank stocks. The company on Thursday reported better-than-expected third-quarter results.

Wells Fargo reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of earnings of 99 cents per share by 18%. The company also reported quarterly sales of $18.83 billion which beat the analyst consensus estimate of $18.37 billion by 2.5%.

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking and wealth and investment management. It is almost entirely focused on the U.S.

Wells Fargo has a 52-week high of $51.41 and a 52-week low of $20.76.