Can Wells do it again on earnings?

|About: Wells Fargo & Co. (WFC)|By:, SA News Editor

"At some point all streaks come to an end," says Macquarie's David Konrad, noting Wells Fargo (WFC -0.2%) is at risk of ending its 17-quarter run of rising per share profits. One-time jolts from reserve releases or investment gains have helped plug holes left by declining mortgage banking income, but it may not be enough this quarter. Such items accounted for 26% of per share profit in Q1, up from 7% a year earlier.

The bank would need to report $1.06 in EPS on Friday morning to keep the string going, but analysts are estimating a $1.01 print. Revenue is expected to decline by 3%.

Previously: Wells downgraded at Macquarie