5 Most Profitable Bank Stocks To Invest In

4. Wells Fargo & Company (NYSE:WFC)

Net Income (TTM) as of December 31, 2022: $13.18 billion

Wells Fargo & Company (NYSE:WFC) is one of the big four American banks with net income of $13.18 billion for 2022. In Q4, the company’s net income fell 50% to $2.86 billion given lower mortgage banking on fewer originations. Given substantially higher interest rates, however, Wells Fargo & Company (NYSE:WFC)’s net interest margin has increased from 2.16% in Q1 2022 to 2.39% in Q2 2022, 2.83% in Q3 2022, and 3.14% in Q4 2022. For 2023, Wells Fargo & Company (NYSE:WFC) believes its net interest income could be ~10% higher than the full year 2022 level.