“Wells Fargo continues to post steadily improving credit statistics, including lower mortgage delinquency levels and lower problem asset inflows,” said Sterne Agee & Leach analysts in a note Thursday. “In addition, mortgage repurchase requests continue to steadily trend lower and associated costs remain manageable—easing fears surrounding the company’s repurchase exposure.”
Yet market-sensitive revenue is beginning to slow, “exacerbated by mounting pressure tied to ongoing regulatory changes,” they added.
SPDR KBW Bank ETF
