Wells Fargo

Q3 Results Q/Q Comparison:

  • Revenue decreased 2% to $21.9B
  • Diluted EPS decreased 18% to $0.84 (reflects $0.20 charge for a mortgage-related litigation charge)
  • Net income decreased 18% to $4.6B (reflects a $1B charge for a mortgage-related litigation charge)
  • Net interest margin of 2.87%, up from 2.82%
  • Return on equity (ROE) of 9.06%, down from 11.60%
  • Return on average assets (ROA) of 0.94%, down from 1.17%
  • Total average loans of $952.3B, down 1%
  • Total average deposits of $1.3T, up 4%
    • Total deposit costs were 26 basis points, up 15 basis points from prior year quarter
  • Net charge-offs of $717M, down $88M (0.30% of total loans, annualized)
  • Nonperforming assets totaled $9.3B, down $512M (0.98% of total loans)
  • No reserve build or release, same as last year quarter
  • Residential mortgage originations of $59B, up from $56B in Q2
    • Noninterest mortgage banking income was $1.0B, down from $1.1B in Q2
  • Tier 1 common equity ratio under Basel III of 11.8%
  • Book value per share of $36.96, an increase of 3%

Stock Price: $54
Market Capitalization: $267 billion

October 13, 2017

 

 

 


 


 

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