JPMorgan Chase & Co. (JPM), Wells Fargo & Co (WFC): Setting the Record Straight About Big Bank Earnings

Finally, what about mortgage origination volumes? These were down at Wells Fargo & Co (NYSE:WFC). And they were down a lot, coming in at $109 billion. In the same quarter last year, they were $129 billion. Yet JPMorgan’s volume came in nearly $15 billion higher on a year-over-year basis. What matters, then, is whether the other large lenders replicate Wells Fargo’s performance or JPMorgan’s. And it’s simply too early to say.

Over the past 12 months, both JPMorgan Chase & Co. (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC) have underperformed the S&P 500 . That and the headlines I cited aside, these banks had great quarters. Whether the rest of earnings season will play out the same way remains to be seen.

The article Setting the Record Straight About Big Bank Earnings originally appeared on Fool.com.

John Maxfield has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo and owns shares of JPMorgan Chase and Wells Fargo.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.