Wells Fargo reported
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.
(RF - Get Report)
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
coverage detail on
several positive trends
for the bank.
The last large-cap showing year-over-year core revenue growth, excluding mortgage revenue, is
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
of average loans during the third quarter.
Mutascio wrote that "over the past 12 months it does [not] appear that revenue per share generation is a good predictor of stock outperformance," but added that "At some point when the loan loss reserves are bled dry and cost cutting has run its course, we think revenue per share growth may be a better predictor of share price gains."
-- Written by Philip van Doorn in Jupiter, Fla.