Wells Fargo shares came under pressure Friday after the bank reported shrinking profits, weighed down by a recent settlement and the need to build up reserves amid a deteriorating economy.
The stock fell more than 2% in Friday’s trading.
Here’s how the bank did:
- Earnings: 67 cents a share, compared with $1.38 a share a year ago
- Revenue: $19.66 billion, 5.7% lower than a year earlier and lower than the $19.98 billion expected, according to Refinitiv
