Wells Fargo Q3 Revenue Hits $21.87B, Topping Expectations
WFC sits 15% above its 52-week low of $72.775.
Summary
Wells Fargo reported third-quarter revenue of $21.87 billion, with net income of $6 billion and EPS of $1.87. Return on assets was 1.05%, return on equity 13.8%, and net interest margin 2.43%. Noninterest income came in at $9.35 billion. The revenue figure is below the $22.6 billion posted in Q2. The HUD investigation announced last week remains a separate overhang. The CET1 ratio slipped to 10.0% from 11.0% a year ago.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Wells Fargo's 8-K includes the Q3 news release and quarterly supplement; CET1 ratio slipped to 10.0% from 11.0% a year ago.
At the time of this announcement, WFC was trading at $83.91 on NYSE in the Finance sector, with a market capitalization of approximately $252B. The 52-week trading range was $72.78 to $97.76. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.