Wells Fargo reports adj. Q3 EPS of $1.12, just in line with forecasts

US bank Wells Fargo unveiled earnings per share for the third quarter that were in line with consensus forecasts and said it continued to see "signs of a steadily improving economy".

The bank's earnings per share of $1.02 was bang in line with expectations and up 3% from $0.99 per share in the same period last year.

“The company’s third quarter results demonstrated strength in the fundamental drivers of our long-term growth,” said chairman and chief executive officer John Stumpf said in a statement.

“Loan and deposit growth was strong and diversified across both commercial and consumer businesses. Capital levels increased even as we returned more capital to shareholders through higher dividends and share repurchases from a year ago."

Total average loans in the period hit $833.2bn, up $31.1bn, or 4%, year-on-year.

"We continue to see signs of a steadily improving economy, and I remain optimistic about the opportunities ahead for Wells Fargo," Stumpf added.