EARNINGS ANALYSIS: Wells Fargo&Co. Posts Good Third-Quarter Results In Line With Standard&Poor's Expectations - S&P Global Ratings’ Credit Research

EARNINGS ANALYSIS: Wells Fargo&Co. Posts Good Third-Quarter Results In Line With Standard&Poor's Expectations

EARNINGS ANALYSIS: Wells Fargo&Co. Posts Good Third-Quarter Results In Line With Standard&Poor's Expectations - S&P Global Ratings’ Credit Research
EARNINGS ANALYSIS: Wells Fargo&Co. Posts Good Third-Quarter Results In Line With Standard&Poor's Expectations
Published Oct 11, 2013
Published Oct 11, 2013
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (Standard&Poor's) Oct. 11, 2013--Standard&Poor's Ratings Services today said Wells Fargo&Co. (WFC) posted good third-quarter results, which were broadly in line with our expectations. In general, substantial credit reserve releases, reflecting improved asset quality, helped to partly offset sharply lower mortgage banking revenue from reduced mortgage refinancing volumes. Overall, the third-quarter trends of further asset quality improvement, capital retention, and continued highly diversified revenue streams support our ratings on WFC (A+/Negative/A-1) and they remain unchanged. The company posted $5.6 billion in net income (a robust 1.53% return on average assets), up 13% from the year-ago quarter and up about 1% from the previous quarter. While we recognize WFC's good inherent earnings power, we

  
Report Type:

News

Ticker
WFC
Issuer
Wells Fargo&Co.
GICS
Diversified Banks (40101010)
Sector
Global Issuers , Public Finance , Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "EARNINGS ANALYSIS: Wells Fargo&Co. Posts Good Third-Quarter Results In Line With Standard&Poor's Expectations" Oct 11, 2013. Alacra Store. May 11, 2025. <http://www.alacrastore.com/s-and-p-credit-research/EARNINGS-ANALYSIS-Wells-Fargo-Co-Posts-Good-Third-Quarter-Results-In-Line-With-Standard-Poor-s-Expectations-1202946>
  
APA:
S&P Global Ratings’ Credit Research. (). EARNINGS ANALYSIS: Wells Fargo&Co. Posts Good Third-Quarter Results In Line With Standard&Poor's Expectations Oct 11, 2013. New York, NY: Alacra Store. Retrieved May 11, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/EARNINGS-ANALYSIS-Wells-Fargo-Co-Posts-Good-Third-Quarter-Results-In-Line-With-Standard-Poor-s-Expectations-1202946>
  
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