Rising Commercial Loans At Wells Fargo Augur Well For The Economy

Second quarter earnings per share of $1.01 at Wells Fargo & Co (NYSE:WFC) were in line with market consensus and a whisker ahead of the $1.00 estimated by Credit Suisse analysts Moshe Orenbuch, Jill Glaser Shea and Lesley Robertshaw.

“Net interest income was slightly higher than our forecasts given less NIM pressure than expected (down 5 bps in the quarter) and better growth in earning assets,” observe the analysts in their July 11, 2014 research note.

Following the bank’s earnings report, the analysts have raised their EPS estimates for 2014 to $4.15 (earlier...