On October 14, Wells Fargo fell 3.05% in Regular Trading, trading at $78.39/share, with turnover of $291 million.

The move followed the bank’s latest quarterly results, which showed third-quarter revenue of $21.87 billion versus a $22.31 billion market expectation and net interest income of $12.52 billion versus a $12.59 billion expectation, even as adjusted EPS of $1.87 slightly beat consensus.

Management also said trading activity slowed significantly in the final weeks of September, pressuring results. Additional commentary indicated that some benefits from the high-rate environment could be partly offset by pressure on market-related net interest income. While management said consumer and business customers remain in good shape and broader industry results pointed to resilient US consumer spending and manageable credit losses, the immediate market focus remained on the revenue miss and softer activity trends.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)