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Finjitsu Research is a fundamental equity research marketplace where professional investors provide investment write-ups for self-directed investors. Our research coverage is focused on hard-to-find small and mid-cap equity research.
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    Jan 15, 2013 10:44 AM | about stocks: WFC

    Finjitsu Research - Associated Analysts

    CHICAGO, IL - Jan. 11, 2013

    Current Perspective on Wells Fargo & Company NYSE:WFC

    Excluding net capital gains, a one time charge, and a one time tax benefit, operating EPS was $0.81, slightly below our estimate (consensus was $0.89, although, consensus may include capital gains). Another drop in net interest margins--now down (35) basis points over the past two quarters--was largely responsible for the shortfall vs. our estimate. Non-NIM, non-credit related operating trends were strongly positive in the quarter.

    Previous Perspective on Wells Fargo & Company NYSE:WFC

    As WFC's opportunities to reduce high-cost liabilities, such as redeeming trust preferreds, have largely been exploited, relentlessly low interest rates available on investment securities (and some loans) are likely to keep driving WFC's net interest margins lower in 2013. WFC now is engaged in a robust effort to drive its expense ratios lower, despite modest revenue growth.

    For more information on this brief please visit: Wells Fargo & Company WFC | Quick Take on the Quarter.

    For more general financial information about Wells Fargo & Company WFC, and other companies, please visit the Finjitsu Research Portal.

    About Finjitsu Research

    Finjitsu Research makes it easy for self-directed investors to access hard-to-find Wall St. equity research.

    Finjitsu is an exclusive curator of stock research--with many publishers, in one place, all having a small and mid-cap focus. In aggregating the reports of many high quality, niche research firms, Finjitsu is the only platform that makes it easy for individual investors to access hard-to-find investment research. For investors who prefer a more personal interaction, Finjitsu Research can also provide a direct connection to Wall St. Analysts in a phone or online-chat format.

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    Important Disclaimers

    This abstract was prepared by Finjitsu Research for convenience only and does not claim to be a complete description of the information contained in the report. This abstract is intended to be a general sample of the contents of the report. This abstract is qualified in its entirety by the full report, which is not available on this website. This report contains opinions that are inherently biased. In addition, this report was prepared for general circulation and does not provide investment recommendations specific to individual investors. As such, the financial instruments discussed in this report may not be suitable for all investors and investors must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. To review additional important disclosures related to this report, please go to

    Stocks: WFC
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