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What to Watch in Wells Fargo’s First-Quarter Earnings Report

Wells Fargo (WFC - Get Report) will release first-quarter earnings Thursday before the markets open.

Analysts expect the San Francisco-based bank to report earnings of 98 cents per share on sales of $21.6 billion. During the same quarter last year, the bank posted net income of $1.04 per share with revenue of $21.28 billion.

Morningstar senior equity analyst Jim Sinegal said Wells Fargo may come out unscathed from the spat of markets volatility seen earlier this year.

"Wells Fargo does not have the capital markets exposure that its large bank peers have, and it's not big in investment banking or trading," he said. "Instead, I'll be looking at whether [the volatility] affected their retail...