Wells Fargo reported third-quarter earnings of $5.6 billion, or 99 cents a share, increasing from $4.9 billion, or 88 cents a share, in the third quarter of 2012.
Regions Financial (RF) of Birmingham, Ala., is next, with adjusted core revenue, excluding mortgage revenue, increasing to $1.254 billion in the third quarter from $1.245 billion a year earlier. The company's average share count during the third quarter declined to 1.405 billion from 1.423 billion in the third quarter of 2012, so adjusted third-quarter revenue-per-share grew 2.0% to 89 cents from 87 cents a year earlier.
Regions reported third-quarter earnings of $285 million, or 20 cents a share, declining from $301 million, or 22 cents a year earlier. Please see TheStreet's coverage detail on several positive trends for the bank.
The last large-cap showing year-over-year core revenue growth, excluding mortgage revenue, is U.S. Bancorp (USB) of Minneapolis. The company's adjusted third-quarter revenue was $4.566 billion, declining from $4.659 billion a year earlier. But the company's average third-quarter share count declined to 1.843 billion from 1.897 billion in the third quarter of 2012. So adjusted revenue-per-share came to $2.48, increasing from $2.46 a year earlier.U.S. Bancorp reported third-quarter earnings of $1.468 billion, or 74 cents a share, compared to $1.474 billion, or 74 cents a share, a year earlier. The company also reported solid growth of average loans during the third quarter. Mutascio wrote that "over the past 12 months it does
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