Wells Fargo & Co

WFC: XNYS (USA)
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Wells Fargo Earnings: Shares Up 7% as Bank Improves ROTE Guidance to 17%-18% After Asset Cap Removal

Wells Fargo reported a good set of numbers, resulting in third-quarter earnings of $1.66 per share, equating to an annualized return on total equity of 15.2%. While earnings were strong, the main highlight was the discussion around the updated medium-term return target.

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