Wells Fargo

Q2 Results Q/Q Comparison:

  • Revenue increased 4% to $22.2B
  • Diluted EPS decreased 2% to $1.01
  • Net income decreased 3% to $5.6B
  • Net interest margin 2.86%, down from 2.97%
  • Return on equity (ROE) of 11.7%, down from 12.7%
  • Return on average assets (ROA) of 1.20%, down from 1.33%
  • Total average loans of $950.8B, up 9%
  • Total average deposits of $1.2T, up 4%
    • Total deposit costs were 11 basis points, up 3 basis points
  • Net charge-offs of $924M, up $274M (0.39% of total loans, annualized)
  • Nonperforming assets totaled $13.1B, down $433M (1.37% of total loans)
  • Reserve build of $150M, versus a reserve release of $350M prior year quarter
  • Residential mortgage originations of $63B, up $19B from Q1
    • Noninterest mortgage banking income was $1.4B, down $184M from Q1
  • Tier 1 common equity ratio under Basel III of 10.6%
  • Book value per share of $35.38, increase of 7%

Stock Price: $48
Market Capitalization: $242 billion

July 15, 2016

 

 

 


 


 

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