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Wells Fargo Posts Stellar Earnings-Bloomberg

|Includes:JPM, Wells Fargo & Co. (WFC)

Wells Fargo (NYSE:WFC) today released very encouraging earnings numbers today including increasing net interest margins, and strong profits led by mortgage refinancing. The environment is getting better for these large banks and Wells Fargo certainly has the least volatile business structure due to their more vanilla and transparent business model. It's interesting to see bank stocks down after strong earnings from both JP Morgan (NYSE:JPM) and Wells Fargo, but it's a fools errand tying to understand the short term whims of the market.

http://www.bloomberg.com/news/2012-04-13/wells-fargo-profit-rises-as-results-improve-from-mortgage-loans.html

Disclosure: I am long WFC, JPM.

Stocks: WFC, JPM