Wells Fargo & Co.
 (WFC)

- NYSE
What's your position on ?
Bullish
Bearish
Why are you ish?
Skip
Post
You voted ish on Vote again
Posts appear on the My Feed page of subscribers to this ticker
Last vote:
  • Fri, Jan. 15, 8:29 AM
    • Q4 net income of $5.71B or $1.03 per share vs. $5.71B and $1.02 a year ago.
    • ROA of 1.27% down 9 basis points Y/Y; ROE of 12.23% down 61 bps. Efficiency ratio of 57.4% improves from 59%. Net interest margin of 2.92% down four basis points from last quarter, down 12 basis points from a year ago.
    • Net charge-offs as a percent of average loans of 0.36% up from 0.34%. Credit losses in Q4 of $831M up from $703M in Q3 mostly thanks to $90M in higher energy portfolio losses.
    • Conference call at 10 ET
    • Previously: Wells Fargo beats by $0.01, misses on revenue (Jan. 15)
    • WFC -2.25% premarket amid a big slump in equity index futures.
    | Fri, Jan. 15, 8:29 AM | 7 Comments
  • Fri, Jan. 15, 8:08 AM
    • Wells Fargo (NYSE:WFC): Q4 EPS of $1.03 beats by $0.01.
    • Revenue of $21.6B (+0.7% Y/Y) misses by $200M.
    • Press Release
    | Fri, Jan. 15, 8:08 AM | 5 Comments
  • Thu, Jan. 14, 5:30 PM
    | Thu, Jan. 14, 5:30 PM | 6 Comments
  • Oct. 14, 2015, 12:57 PM
    • "Whatever savings we get by being thrifty, we reinvest elsewhere," says Wells Fargo (WFC -0.4%) CFO John Shrewsberry, speaking on the earnings call. "You save on one side and you invest on the other side," says CEO John Stumpf.
    • Money the bank is saving in ares like travel expenses and cutting the real estate footprint is being spent in areas like regulatory compliance and technology. For this reason, management says not to expect efficiency ratio - at 56.7% in Q3 - not to fall a whole lot further as long as the sluggish revenue environment persists.
    • More GE Capital purchases (the bank has already made three this year)? Unlikely, says Stumpf. Most of what GE has left to sell is outside of the U.S. - not an area of focus for Wells.
    • In a tweak to the organizational structure, the asset-management business is being added to the wealth, brokerage, and retirement division, with the whole thing to be renamed Wealth and Investment Management.
    • Jefferies' Ken Usdin says the bank matched estimates thanks to gains from equity investments which helped offset negative trading results. Growth in fees from higher service charges, card fees, and lease income was "more than offset" by drops in other units like mortgage banking and trading.
    • Live Blog at WSJ
    • Webcast and quarterly supplement
    • Previously: Wells Fargo lower after meeting estimates (Oct. 14)
    • Previously: Wells Fargo EPS in-line, beats on revenue (Oct. 14)
    | Oct. 14, 2015, 12:57 PM
  • Oct. 14, 2015, 8:20 AM
    • Q4 income of $5.8B of $1.05 per share vs. $5.7B and $1.02 one year ago.
    • ROA of 1.32% down eight basis points, ROE of 12.62% down 48 bps. Efficiency ratio of 56.7% improved 100 bps. Net interest margin of 2.96% down ten basis points.
    • Noninterest income of $10.4B rose from $10B in Q2, with mortgage banking noninterest income of $1.6B slipping $116M. Residential mortgage originations of $55B slipped $7B.
    • Total loans of $903.2B rose $14.8B during the quarter.
    • Total average deposits of $1.2T rose 5% annualized during the quarter and 6% from a year ago. Average deposit cost of eight basis points slipped two bps from a year ago.
    • Fully phase-in CET 1 ratio of 10.7%. 51.7M shares repurchased during quarter.
    • Conference call at 10 ET
    • Previously: Wells Fargo EPS in-line, beats on revenue (Oct. 14)
    • WFC -0.9% premarket
    | Oct. 14, 2015, 8:20 AM | 6 Comments
  • Oct. 14, 2015, 8:04 AM
    • Wells Fargo (NYSE:WFC): Q3 EPS of $1.05 in-line.
    • Revenue of $21.88B (+3.2% Y/Y) beats by $120M.
    | Oct. 14, 2015, 8:04 AM | 9 Comments
  • Oct. 13, 2015, 5:30 PM
    | Oct. 13, 2015, 5:30 PM | 5 Comments
  • Jul. 14, 2015, 11:16 AM
    • We don't look for higher rates as a justification for investing in anything, says Wells Fargo (WFC +1%) CEO John Stumpf, speaking on the earnings call. If rates do go up, it will be of benefit to the bank, but management wants to stay away from forecasting, and notes higher rates have been on the agenda for about five years now.
    • Webcast and Q2 supplement
    • A portion of the bank's loan growth in Q2 came from its purchase of GE Capital loans, says CFO John Shrewsberry. The loans, he said, came from 145 different customers and give Wells "a meaningful number of new relationships." As the deal was finalized late in Q2, most of the benefits will be seen in Q3.
    • With an operation just a fraction the size of its peers, Wells doesn't often enter the conversation for investment banking, but the unit was a sore spot in Q2, with earnings lower by 8% Y/Y, notes Peter Rudegeair. Its market share of U.S. investment banking fees of 4.7% slipped 10 basis points from last year.
    • Previously: Wells Fargo slips after top-line miss (July 14)
    • Previously: Wells Fargo EPS in-line, misses on revenue (July 14)
    | Jul. 14, 2015, 11:16 AM
  • Jul. 14, 2015, 8:18 AM
    • Q2 net income of $5.7B flat from one year ago. EPS of $1.03 up from $1.01.
    • Net interest income of $11.3B up $284M from Q1. Net interest margin of 2.97% up two basis points.
    • Noninterest income of $10B slips $300M from Q1. Mortgage banking noninterest income of $1.7B up $158M. Originations of $62B up $13B, with gain on sale ratio of 1.88% down 18 basis points.
    • Noninterest expense of $12.5B down $38M. Efficiency ratio of 58.5% improves from 58.8%. The bank expects the range to remain at 55-59% for all 2015.
    • Total loans of $888.5B up $27.2B from Q1. Core loans of $832.1B up from $802.7B.
    • Credit losses of $708M in Q2, an improvement of 8%. Net loan charge-offs of $650M or 0.30% of average loans vs. $708M and 0.33% in Q1.
    • CET 1 ratio of 10.5%. 36.3M shares repurchased during quarter.
    • Conference call at 10 ET
    • Previously: Wells Fargo EPS in-line, misses on revenue (July 14)
    • WFC -1.3% premarket
    | Jul. 14, 2015, 8:18 AM | 1 Comment
  • Jul. 14, 2015, 8:05 AM
    • Wells Fargo (NYSE:WFC): Q2 EPS of $1.03 in-line.
    • Revenue of $21.3B (+1.1% Y/Y) misses by $390M.
    | Jul. 14, 2015, 8:05 AM | 1 Comment
  • Jul. 14, 2015, 4:49 AM
    • The nation's largest banks report their second-quarter results this week, beginning with JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) today.
    • Bank of America (NYSE:BAC) and Goldman Sachs (NYSE:GS) are due to report later in the week, along with private equity firm Blackstone (NYSE:BX) and asset manager BlackRock (NYSE:BLK).
    • Despite the stable economy in the U.S., analysts are expecting relatively ho-hum results.
    | Jul. 14, 2015, 4:49 AM
  • Jul. 13, 2015, 5:30 PM
    | Jul. 13, 2015, 5:30 PM | 3 Comments
  • Apr. 14, 2015, 10:51 AM
    • It starts with the customer, says Wells Fargo (WFC -1.7%) management on the earnings call, and customers tell us they want branches. Responding to a question about whether investments in technology are going to be a negative if they're not offset with branch closings, management says all channels are important, and both branches and mobile help link them. "We're as much an information provider as we are financial services."
    • Webcast and earnings supplement
    • Credit cards are one of the bank's biggest opportunities, says CEO John Stumpf, noting 729K new accounts in Q1, 19% more than a year ago. Outstanding balances are up 15%, in part thanks to the Dillard's purchase.
    • The country's largest auto lender, Wells backed away a bit in Q1, making $7.1B in auto loans in Q1, down 10% Y/Y. The loan-loss rate slipped to 0.73% from 0.81% a year ago.
    • Live blog on WSJ
    • Previously: Wells Fargo beats by $0.06, beats on revenue (April 14)
    • Previously: Wells Fargo slips early despite topping views (April 14)
    | Apr. 14, 2015, 10:51 AM | 2 Comments
  • Apr. 14, 2015, 8:13 AM
    • Q1 net income of $5.8B or $1.04 per share vs. $5.9B and $1.05 one year ago. ROE of 13.17% vs. 14.35%.
    • Net interest income of $10.986B up 3% Y/Y, with net interest margin slipping to 2.95% from 3.20%. Efficiency ratio of 58.8% vs. 57.9%.
    • Community Banking net income of $3.665B vs. $3.844B one year ago. Provisions of $617M vs. $419M. Noninterest expense of $7.064B vs. $6.774B.
    • Wholesale Banking net income of $1.797B vs. $1.742B a year ago on revenue of $5.912B vs. $5.580B.
    • Wealth, Brokerage and Retirement net income of $561M vs. $475M. Retail brokerage client assets of $1.4T up 4% Y/Y. Wealth Management client assets of $226B up 4%. Retirement IRA assets of $365B up 6%.
    • CET 1 ratio of 10.53%. Common share float down 7.4M since Q4.
    • Conference call at 10 ET.
    • WFC -0.7% premarket.
    • Previously: Wells Fargo beats by $0.06, beats on revenue (April 14)
    | Apr. 14, 2015, 8:13 AM
  • Apr. 14, 2015, 8:02 AM
    • Wells Fargo (NYSE:WFC): Q1 EPS of $1.04 beats by $0.06.
    • Revenue of $21.3B (+3.3% Y/Y) beats by $60M.
    | Apr. 14, 2015, 8:02 AM
Company Description
Wells Fargo & Co is a diversified financial services company. It provides retail, corporate and commercial banking services through banking stores and offices, the internet and other distribution channels to individuals, businesses and institutions.
Sector: Financial
Country: United States