Wells Fargo & Co.
WFC
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+ FollowMarket Cap$247.31B
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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 $1.8B) while non-markets NII makes up the balance.
- Key challenge/opportunity: markets NII is liability-sensitive to rate moves, but offset by markets noninterest income.
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$-4.30
105.2% downside
Current Fair Value
105.2% downsideOvervalued by 105.2% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $247.31 Billion |
|---|---|
| Enterprise Value | $427.79 Billion |
| Dividend Yield | $1.85 (2.25%) |
| 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 | 11.41 |
|---|---|
| PEG | 176.18 |
| Price to Sales | 1.92 |
| Price to Book Ratio | 1.42 |
| Enterprise Value to Revenue | 3.28 |
| Enterprise Value to EBIT | 15.54 |
| Enterprise Value to Net Income | 18 |
| Total Debt to Enterprise | 0.52 |
| Debt to Equity | 1.26 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
October 13, 2026
EPS Estimate
$1.85
Average shareholder expectationRevenue Estimate
$22.30 B
Average shareholder expectationNext Earnings Call
Expected Date
January 13, 2027
EPS Estimate
$1.89
Average shareholder expectationRevenue Estimate
$22.43 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 5.7958▲ 437.87% |
|---|---|
| Total Calls | 28,900▼ 99.89% |
| Total Puts | 167,500▼ 99.54% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.49%▼ 75.84% |
|---|---|
| Total Invested | $3.63B▼ 98.14% |
| Investors Holding | 872▼ 2116.00% |
ESG Score
No data
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...