October 17, 2012
In this video, Fool analysts Anand Chokkavelu and Matt Koppenheffer point out the positive highlights of Wells Fargo's strong third quarter.
1. Earnings per share came in at $0.88, a penny better than expected and 22% better than last year. Adding to that strength, return on equity for the quarter was a healthy 13.4%.
2. Average loans (up 3% over last year) and deposits (up 7%) both rose.
3. Even with a one-time item weighing it down, Wells' credit profile is strengthening, with charge-offs down to 1.21% from 1.37% last year.
See more in the following video.
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