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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The article Wells Fargo's Earnings: 3 Things to Love originally appeared on Fool.com.
Anand Chokkavelu owns shares of both Wells Fargo and Berkshire Hathaway as well as warrants in Wells Fargo. Fool contributor Matt Koppenheffer owns shares of Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway and Wells Fargo. Motley Fool newsletter services recommend Berkshire Hathaway and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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