Core earnings reflected growth in portfolio net interest income from continued capital deployment and solid mortgage banking results, which were partially offset by lower core gains relative to.
Net income gained 2.7% to $5.7 billion while earnings per share were up 3 cents to $1.02, both keeping with Street expectations. Wells Fargo shares opened down 1.5% at $49.46, before slipping lower.
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MILL VALLEY, Calif., May 7, 2018 /PRNewswire/ — Redwood Trust, Inc. RWT, +1.50% today reported net income for the first quarter of 2018 of $47 million, or $0.50 per fully diluted share.
Redwood Trust, Inc. (NYSE: RWT) is a specialty finance company focused on making credit-sensitive investments in residential mortgages and related assets and engaging in mortgage banking activities. Our goal is to provide attractive returns to shareholders through a stable and growing stream of earnings and dividends, as well as through capital.
Quarterly Financial Highlights Business Highlights A further discussion of Redwood’s business, financial results, core earnings and taxable income, as well as a discussion of management’s 2018 outlook.
Residential mortgage banking volumes for the first quarter totaled $1 billion, and during the quarter, we executed one select and one choice securitization.
Redwood does not directly originate or service loans (1) includes $1.2bn of equity capital and $0.6bn of debt on our consolidated balance sheet that is recourse to RWT. (2) Through June 30, 2017. represents total net income before Corporate/Other of ($41mn). Total YTD 2017 Contribution to Net Income by Segment: $114 million(2) Investments in
These were partially offset by a decrease in net. mortgage income and investment banking and debt placement fees. Non-interest expense fell 3.0% from $734 million in the prior-year quarter to $712.
BOK financial (bokf) stock Slips 3% Despite Q2 Earnings Beat. July 27, Net income attributable to common shareholders came in at $88.1 million, up 33.9% from $65.8 million in the year-ago.
Redwood Trust, Inc. had lower mortgage banking gains, although core earnings was negatively impacted by timing differences on jumbo pipeline hedges. Book value decreased to $15.03 from $15.14 on the dividend in excess of earnings, as well as a higher share count. Redwood had lower mortgage banking income, along with slightly higher expenses.
Core earnings was supported by solid mortgage banking results and measured progress in economic net interest income growth, but declined quarter-over-quarter primarily due to higher variable.
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Increased interest income aided BOK Financial’s (BOKF) Q2 earnings growth. But, lower fee income and higher nonperforming assets might have disappointed investors. BOK Financial (BOKF) Stock Slips.