August 08, 2012 at 08:20 AM EDT
Wells Fargo and U.S. Bancorp Showing Strong Despite a Global Economic Slowdown
The Paragon Report Provides Stock Research on Wells Fargo and U.S. Bancorp

NEW YORK, NY -- (Marketwire) -- 08/08/12 -- Banking stocks have performed admirably despite facing growing concerns of a major global economic slowdown. The Financial Select Sector SPDR Fund (XLF) is up more than 14 percent year-to-date -- showing renewed investor optimism in the sector. The Paragon Report examines investing opportunities in the Banking Industry and provides equity research on Wells Fargo & Company (NYSE: WFC) and U.S. Bancorp (NYSE: USB).

Access to the full company reports can be found at:

www.ParagonReport.com/WFC

www.ParagonReport.com/USB

Results from a Federal Reserve survey, released earlier this week, have shown that U.S. banks have relaxed their lending standards on credit cards and lending for autos and commercial real estate in the second quarter. Despite facing an economy with 8.3 percent unemployment, U.S. banks are lending the most since the end of the recession.

There have been banks that have "reported that their business had increased due to decreased competition from European banks and that they remain willing to accommodate additional such business," the Fed said.

Paragon Report releases regular market updates on the Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.ParagonReport.com and get exclusive access to our numerous stock reports and industry newsletters.

Wells Fargo reported record net income of $4.6 billion, or $0.82 per diluted common share, for second quarter 2012, up from $3.9 billion, or $0.70 per share, for second quarter 2011, and up from $4.2 billion, or $0.75 per share, for first quarter 2012. Shares of the company have gained over 23 percent for the year.

U.S. Bancorp, with $353 billion in assets as of June 30, 2012, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. Net income attributable to U.S. Bancorp was $1,415 million for the second quarter of 2012, 17.6 percent higher than the $1,203 million for the second quarter of 2011 and 5.8 percent higher than the $1,338 million for the first quarter of 2012. Shares of the company are up over 20 percent for the year.

The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:

http://www.paragonreport.com/disclaimer

Add to Digg Bookmark with del.icio.us Add to Newsvine

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here