Revenue within Wells Fargo's Wealth, Brokerage and Retirement segment grew to $3.307 billion in the third quarter from $3.261 billion the previous quarter and $3.033 billion a year earlier.
Jefferies analyst Ken Usdin rates Wells Fargo a "buy," with a price target of $48, and in a note on Friday wrote "the core looks touch soft with net interest income flat," and that the company's expenses were "a bit higher-than-expected."
Wells Fargo's third-quarter net interest margin -- the spread between the average yield on loans and investments and the average cost for deposits and borrowings -- narrowed to 3.38% during the third quarter from 3.46% in the second quarter.
Wells Fargo's shares were down one cent to close at $41.43.
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