Wells Fargo Earnings Rise 4 Percent On Loan And Deposit Growth In 3rd-Quarter

Shares of Wells Fargo & Company are down after the San Francisco bank posted an increase in quarterly earnings, but fell a little short of expectations.

Before the markets opened, Wells Fargo posted net income for its third quarter of 2.28 billion dollars, or 68 cents per share.

That was an improvement of four percent over the 2.19 billion dollars, or 64 cents per share the bank earned during the same quarter last year.

But it missed by two cents the 70 cents per share analysts were expecting.

At last check, shares of Wells Fargo were down about four percent in heavy trading.

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