Wells Fargo & Co.
WFC - Insider Information
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+ FollowMarket Cap$250.52B
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Earnings Call Q3 2026
October 13, 2026 - AI Summary
Q3 results: broad-based growth + higher returns
- EPS $1.87, +13% YoY.
- Revenue +2% YoY; offset by lower venture capital revenue (expected) and lower lease income after the rail car leasing business sale (Q1).
- ROTCE ~16.3% this quarter (vs 14.7% for first 9 months of 2025 and improving trend).
- Expense discipline: expenses declined modestly; efficiency ratio 63% (improved 2 pts YoY). Headcount down 2% QoQ, 8% YoY and down 30% vs Q2 2020 peak.
Top-line drivers by segment (investor “what’s working”)
- Wealth & Investment Management revenue +12% YoY; client assets +11% to $2.5T.
- Commercial Banking revenue +6% YoY; deposit growth +16% YoY and loan growth +10% YoY (client acquisition/deposit initiatives).
- Consumer Banking & Lending revenue +5% YoY; checking momentum: 14th consecutive quarter of YoY growth; 660k+ new accounts in Q3; credit cards opening +61% YoY, auto originations +15% YoY.
- Corporate & Investment Banking revenue +3% YoY with 8% banking growth; M&A +30%, ICM underwriting +33%; equity trading franchise strong (equities revenue +21% YoY).
Net interest income (NII): outlook unchanged for FY 2026; mix/rates matter
- Q3 NII +$567m (+5% YoY), +2% QoQ; NIM stable QoQ.
- Drivers cited: loan/investment balance growth, repricing effects, 1 extra day, better markets balance sheet deployment/optimization.
- Full-year 2026 NII outlook: $50B ± (previously tracked as being built from ~$48B + ~$2B).
- Q4 NII expected ~ $13B; management expects markets NII slightly below ~$2B (around $1.8B) while non-markets NII makes up the balance.
- Key challenge/opportunity: markets NII is liability-sensitive to rate moves, but offset by markets noninterest income.
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$-3.84
104.4% downside
Current Fair Value
104.4% downsideOvervalued by 104.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $250.52 Billion |
|---|---|
| Enterprise Value | $431.01 Billion |
| Annual dividend | $1.85 |
| Dividend yield | 2.22% |
| Earnings per Share | $6.39 |
| Beta | 0.95 |
| Outstanding Shares | 3,015,800,000 |
Return
| Return on Equity | 13.09% |
|---|---|
| Return on Assets | 1.02% |
| Return on Invested Capital | 1.24% |
Valuation & Multiples
| P/E Ratio | 11.55 |
|---|---|
| PEG | 178.39 |
| Price to Sales | 2.03 |
| Price to Book Ratio | 1.51 |
| Enterprise Value to Revenue | 3.3 |
| Enterprise Value to EBIT | 15.66 |
| Enterprise Value to Net Income | 18 |
| Total Debt to Enterprise | 0.51 |
| Debt to Equity | 1.26 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 13, 2026
EPS Estimate
$1.85
Consensus analyst estimateRevenue Estimate
$22.30 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 13, 2027
EPS Estimate
$1.89
Consensus analyst estimateRevenue Estimate
$22.43 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.92, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.9201▲ 50.30% |
|---|---|
| Total Calls | 88,900▼ 99.65% |
| Total Puts | 170,700▼ 99.53% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.11%▼ 74.21% |
|---|---|
| Total Invested | $7.59B▼ 96.10% |
| Investors Holding | 1,237▼ 1751.00% |
About Wells Fargo & Co.
258,700 employees
CEO: Charles Scharf
Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. It provides a diver...