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More on Wells Fargo (WFC) Q4 earnings: The bank's share of this week's foreclosure settlement is...

More on Wells Fargo (WFC) Q4 earnings: The bank's share of this week's foreclosure settlement is $766M, mostly reserved for in Q4. The settlement will save the bank $125M/quarter going forward as it ends a foreclosure review program. The conference call is underway, with the Q&A about to begin. Earnings supplement.
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  • rjp2020
    , contributor
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    Records across the board, a 60% improvement in net margin % qtr/qtr. foreclosure settlement basically paid for, and a strengthening balance sheet...what more can you ask for in terms of improvement during a quarter. Yet some are still focused on a 10 basis point net margin decline (25 basis points down last qtr.) As rates begin to improve WFC will rally nicely over the year and should, in the short term, improve as other banks report. Keep in mind WFC is only about 16% over book value. This appears to be an excellent buying opportunity
    11 Jan 2013, 02:48 PM Reply Like
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