Отчет Wells Fargo

Wells Fargo & Co Reports Q2 EPS $0.82 vs $0.81 Est
* Wells Fargo Had a $400 Million Pretax Reserve Release
*MW Wells Fargo Q2 revenue $21.3 bln vs. $20.4 bln
*MW Wells Fargo cites housing market 'stabilization'
*MW Wells Fargo says recovery remains 'uneven'
---
Wells Fargo (WFC) reports Q2 EPS of $0.82, up 17% from the year ago period and ahead of the analyst consensus of $0.81 per share on Capital IQ. Revenue was $21.3 bln, up from $20.4 bln a year ago. The analyst view was $21.4 bln.
Price: 32.50, Change: -0.35, Percent Change: -1
---
Wells Fargo & Co.'s  (WFC) second-quarter profit rose 17% as the nation's fourth-largest bank by assets saw mortgage banking income climb and its provision for credit losses fall.
With a smaller capital markets business than its big bank peers, the  West Coast -based bank is more closely watched in the investment community for its mortgage banking results. In May,  Wells Fargo --the nation's largest mortgage originator--turned over hundreds of emails and other documents related to its mortgage-backed securities business to the  Securities and Exchange Commission  after being taken to court.

The  SEC  wanted data on the pools of loans underlying nearly  $60 billion  of securities sold by  Wells Fargo  to investors from  September 2006  through early 2008. The agency said the subpoenas asked for information on the guidelines on loan quality used by the underwriters to vet the loan pools before they were bundled into securities, the outcomes of those due-diligence checks and the prospectuses used to sell the investments.
 Wells Fargo  originated  $131 billion  of mortgages in the second quarter, compared with  $129 billion  in the first quarter and  $64 billion  a year earlier. Mortgage banking non-interest income was up 79% to  $2.89 billion  from a year earlier.
The bank reported a profit of  $4.62 billion, up from a year-earlier profit of  $3.95 billion. Per-share earnings, reflecting the payment of preferred dividends, rose to  82 cents  from  70 cents  a year earlier. Analysts polled by  Thomson Reuters  expected  81 cents .
Revenue increased 4.4% to  $21.29 billion. Analysts were looking for  $21.36 billion .
Credit-loss provisions totaled  $1.8 billion, down slightly from  $1.84 billion  a year earlier and  $2 billion  in the first quarter.
Net charge-offs, or loans lenders don't think are collectible, fell to 1.15% of average loans, compared with 1.52% a year earlier and 1.25% in the first quarter.
Shares were down 1.07% to  $32.50  premarket. Through Thursday's close, the stock is up 19% so far this year.