Better Buy: Bank of America vs. Wells Fargo
The big U.S. banks have all now delivered their third-quarter reports, and overall, it was their best period of 2020 so far, mainly due to the fact that they took smaller credit-loss provisions. However, of the six large American banks that reported earnings first, Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) were two of the weaker performers: Bank of America missed consensus estimates on revenue and Wells Fargo missed on total profit.
But which of them would make a better investment from here?
Image source: Bank of America