Wells Fargo reports a 9.0% annualised growth in Q4 net income

Wells Fargo & Co (NYSE: WFC), on January 12th, reported a 9.0% increase in its fourth-quarter net income on the back of a 17% jump in noninterest income.Why is Wells Fargo stock trending down?Copy link to sectionThe financial services behemoth saw its net income come in at $3.44 billion – down 40% versus the previous quarter. On a per-share basis, Wells Fargo earned 86 cents in its Q4. Charlie Scharf – its chief executive said in a press release today: We continue to execute on our strategic priorities. We ...