5 Most Profitable Banks in the US in 2024

3. Wells Fargo & Company (NYSE:WFC)

Trailing Twelve Month Net Income: $17.9 billion

Wells Fargo & Company (NYSE:WFC) is the mega American bank with more than two hundred thousand employees. Like other banks, it also faced a favorable investment management environment during Q1 but had to struggle with predictability on the net interest income front.

During the previous quarter, 72 out of the 933 hedge funds part of Insider Monkey’s database had bought and owned Wells Fargo & Company (NYSE:WFC)’s shares. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital  owned the biggest stake which was worth $1.5 billion.