Wells Fargo & Co Stock Research

Market Summary

USD37.380.00

Delayed

0.00%

WFC Alerts

1 major insider sales recently.
Big jump in Revenue (Y/Y)
Big fall in earnings (Y/Y)

WFC Stock Price

WFC RSI Chart

WFC Valuation

Market Cap

141.9B

Price/Earnings (Trailing)

10.77

Price/Sales (Trailing)

2.63

EV/EBITDA

2.36

Price/Free Cashflow

5.25

WFC Price/Sales (Trailing)

WFC Profitability

EBT Margin

27.71%

Return on Equity

7.33%

Return on Assets

0.7%

Free Cashflow Yield

19.06%

WFC Fundamentals

WFC Revenue

Revenue (TTM)

54.0B

Revenue Y/Y

75.8%

Revenue Q/Q

22.76%

WFC Earnings

Earnings (TTM)

13.2B

Earnings Y/Y

-50.19%

Earnings Q/Q

-18.82%

Price Action

52 Week Range

35.2549.26

(Low)(High)

Last 7 days

3.2%

Last 30 days

-19.9%

Last 90 days

-9.5%

Trailing 12 Months

-21.4%

WFC Financial Health

Debt/Equity

0.97

Debt/Cashflow

0.15

WFC Investor Care

Dividend Yield

1.94%

Dividend/Share (TTM)

0.9

Buy Backs (1Y)

6.40%

Diluted EPS (TTM)

3.14

Peers (Alternatives to Wells Fargo)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JPM	385.9B	128.7B	-8.59%	-1.98%	10.24	3	5.79%	-22.05%
BAC	228.7B	95.0B	-15.68%	-28.89%	8.31	2.41	6.55%	-13.92%
WFC	141.9B	54.0B	-19.92%	-21.41%	10.77	2.63	36.10%	-38.82%
USB	54.1B	17.9B	-23.80%	-30.70%	9.28	3.01	33.05%	-26.85%
PNC	52.1B	21.1B	-18.11%	-29.17%	8.52	2.47	9.94%	6.78%
FHN	9.5B	2.7B	-18.92%	-22.09%	10.59	3.55	24.33%	-9.91%
MID-CAP
CFR	6.8B	1.5B	-20.80%	-23.89%	11.7	4.59	46.29%	30.71%
BOKF	6.5B	1.4B	-18.94%	-8.61%	12.4	4.63	17.98%	-15.83%
ZION	4.4B	2.7B	-40.66%	-52.96%	4.91	1.64	19.32%	-19.66%
PNFP	4.2B	1.4B	-25.31%	-39.60%	7.52	3.07	33.23%	6.34%
SMALL-CAP
PRK	1.9B	378.2M	-7.30%	-7.29%	12.99	5.1	19.24%	-3.63%
TRMK	1.5B	541.8M	-15.61%	-18.72%	20.95	2.78	22.45%	-51.22%
WABC	1.2B	221.8M	-19.59%	-25.20%	9.77	5.38	27.86%	41.07%
HOPE	1.2B	716.1M	-22.62%	-37.11%	5.38	1.64	26.40%	6.70%

Financials for Wells Fargo

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	16.6%	54,024	46,352	41,692	39,829	39,694
EBITDA	-2.4%	66,751	68,410	67,980	64,880	-
EBITDA Margin	-16.3%	1.24*	1.48*	1.63*	1.63*	-
Earnings Before Taxes	-27.3%	14,969	20,578	23,110	27,734	28,816
EBT Margin	-37.6%	0.28*	0.44*	0.55*	0.70*	-
Interest Expenses	10.2%	44,950	40,779	37,590	36,192	35,779
Net Income	-18.0%	13,182	16,068	17,662	20,583	21,548
Net Income Margin	-29.6%	0.24*	0.35*	0.42*	0.52*	-
Free Cahsflow	9.9%	27,048	24,620	7,794	-7,856	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	0.2%	1,881,016	1,877,745	1,881,142	1,939,709	1,948,068
Cash Equivalents	-3.8%	159,157	165,455	155,140	201,895	234,230
Goodwill	0.0%	25,173	25,172	25,178	25,181	25,180
Liabilities	0.0%	1,699,141	1,699,336	1,701,349	1,758,020	1,757,958
. Short Term Borrowings	5.7%	51,145	48,382	37,075	33,601	34,409
Long Term Debt	11.8%	174,870	156,412	150,291	153,337	160,689
Shareholder's Equity	2.1%	179,889	176,189	179,793	181,689	187,606
Retained Earnings	0.6%	187,649	186,551	184,475	182,623	180,322
Additional Paid-In Capital	0.2%	60,319	60,216	60,024	59,899	60,196
Shares Outstanding	0.1%	3,797	3,794	3,831	-	-
Minority Interest	-10.5%	1,986	2,220	2,261	2,446	2,504

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	9.9%	27,048	24,620	7,794	-7,856	-11,525
Cashflow From Investing	26.7%	-42,476	-57,952	-65,892	-46,108	-7,619
Cashflow From Financing	12.2%	-59,645	-67,900	-60,935	-30,874	-11,238
Dividend Payments	8.3%	4,178	3,859	3,531	2,997	2,422
Buy Backs	-53.7%	6,033	13,039	18,325	19,886	14,464

Risks for WFC

What is the probability of a big loss on WFC?

73.1%

Probability that Wells Fargo stock will be more than 20% underwater in next one year

38.9%

Probability that Wells Fargo stock will be more than 30% underwater in next one year.

19.6%

Probability that Wells Fargo stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does WFC drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Wells Fargo was unfortunately bought at previous high price.

Drawdowns

Returns for WFC

Cumulative Returns on WFC

3.0%

10-Year Cumulative Returns

-0.9%

7-Year Cumulative Returns

-3.9%

5-Year Cumulative Returns

11.6%

3-Year Cumulative Returns

What are the long-term rolling returns for WFC?

FIve years rolling returns for Wells Fargo.

Annualized Returns

Which funds bought or sold WFC recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-28	SEIZERT CAPITAL PARTNERS, LLC	reduced	-2.17	160,365	37,381,400	1.99%
2023-03-27	Neo Ivy Capital Management	added	177	442,000	681,000	0.46%
2023-03-24	Freemont Management S.A.	unchanged	-	303,199	11,689,200	1.83%
2023-03-24	PALISADE CAPITAL MANAGEMENT, LP	added	5.45	666,335	12,858,300	0.34%
2023-03-23	ETF MANAGERS GROUP, LLC	sold off	-100	-300,000	-	-%
2023-03-23	MetLife Investment Management, LLC	reduced	-1.19	581,062	41,076,400	0.33%
2023-03-22	Campion Asset Management	reduced	-6.47	-14,616	364,384	0.36%
2023-03-17	American Portfolios Advisors	unchanged	-	-69.00	7,224	-%
2023-03-17	American Portfolios Advisors	reduced	-13.34	-355,952	2,875,590	0.12%
2023-03-15	B. Riley Wealth Advisors, Inc.	added	12.1	483,843	3,695,840	0.10%

Latest Funds Activity

Are funds buying WFC calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own WFC

No. of Funds

Wells Fargo News

Schedule 13G FIlings of Wells Fargo

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.70%	331,546,750	SC 13G/A
Feb 07, 2023	blackrock inc.	7.0%	268,358,243	SC 13G/A
Feb 09, 2022	vanguard group inc	8.16%	325,460,566	SC 13G/A
Feb 08, 2022	blackrock inc.	7.1%	282,952,036	SC 13G/A
Feb 10, 2021	vanguard group inc	7.65%	316,366,883	SC 13G/A
Feb 05, 2021	blackrock inc.	6.9%	285,295,599	SC 13G/A
Sep 04, 2020	berkshire hathaway inc	3.3%	137,557,302	SC 13G/A
Feb 14, 2020	berkshire hathaway inc	8.4%	347,604,686	SC 13G/A
Feb 14, 2020	berkshire hathaway inc	8.4%	347,604,686	SC 13G/A
Feb 12, 2020	vanguard group inc	7.37%	311,751,138	SC 13G/A

WFC Fair Value

Wells Fargo fair value in different scenarios

The table shows the Fair Value estimates for Wells Fargo for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	- -	- -	- -	- -	- -
Current Inflation	4.34 -88.39%	8.75 -76.59%	17.48 -53.24%	27.69 -25.92%	34.23 -8.43%
Very High Inflation	- -	- -	- -	- -	- -

Historical Wells Fargo Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Wells Fargo

View All Filings

Date Filed	Form Type	Document
Mar 31, 2023	SC 13D/A	13D - Major Acquisition
Mar 31, 2023	4	Insider Trading
Mar 27, 2023	PX14A6G	PX14A6G
Mar 23, 2023	SC 13D/A	13D - Major Acquisition
Mar 23, 2023	SC 13D/A	13D - Major Acquisition
Mar 22, 2023	PX14A6G	PX14A6G
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading
Mar 17, 2023	4	Insider Trading

Latest Insider Trading transactions for WFC

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-15	Powell Scott	sold (taxes)	-105,513	38.85	-2,715	sevp & chief operating officer
2023-03-15	Powell Scott	acquired	-	-	5,316	sevp & chief operating officer
2023-03-15	Mack Mary T	sold (taxes)	-1,117,170	38.85	-28,755	sr. executive vice president
2023-03-15	Weiss Jonathan G.	acquired	-	-	45,672	sr. executive vice president
2023-03-15	Hranicky Kyle G	acquired	-	-	15,465	sr. executive vice president
2023-03-15	Patterson Ellen R	sold (taxes)	-538,629	38.85	-13,864	sr. evp and general counsel
2023-03-15	Patterson Ellen R	acquired	-	-	27,157	sr. evp and general counsel
2023-03-15	Hranicky Kyle G	sold (taxes)	-231,776	38.85	-5,965	sr. executive vice president
2023-03-15	Flowers Derek A.	acquired	-	-	19,139	sr. evp and chief risk officer
2023-03-15	DALEY WILLIAM M	sold (taxes)	-85,384	38.5105	-2,217	vice chairman - public affairs

About Wells Fargo

Charles W. Scharf

www.wellsfargo.com

65535

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services. The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government, and institutional clients. Its products and services comprise corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary products and services to affluent, high-net worth, and ultra-high-net worth clients. It also operates through financial advisors. Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California.

WFC Income Statement

2022-12-31

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest income
Debt securities	$ 11,781	$ 9,253	$ 11,234
Loans held for sale	513	865	947
Loans	37,715	28,634	34,230
Equity securities	707	608	554
Other interest income	3,308	334	954
Total interest income	54,024	39,694	47,919
Interest expense
Deposits	2,349	388	2,804
Short-term borrowings	582	(41)	250
Long-term debt	5,505	3,173	4,471
Other interest expense	638	395	438
Total interest expense	9,074	3,915	7,963
Net interest income	44,950	35,779	39,956
Noninterest income
Deposit and lending-related fees	6,713	6,920	6,602
Card fees	4,355	4,175	3,544
Mortgage banking	1,383	4,956	3,493
Net gains from trading and securities	1,461	7,264	2,710
Other	2,238	3,734	3,847
Total noninterest income	28,835	42,713	34,308
Total revenue	73,785	78,492	74,264
Provision for credit losses	1,534	(4,155)	14,129
Noninterest expense
Personnel	34,340	35,541	34,811
Technology, telecommunications and equipment	3,375	3,227	3,099
Occupancy	2,881	2,968	3,263
Operating losses	6,984	1,568	3,523
Professional and outside services	5,188	5,723	6,706
Advertising and promotion	505	600	600
Restructuring charges	5	76	1,499
Other	4,004	4,128	4,129
Total noninterest expense	57,282	53,831	57,630
Income before income tax expense	14,969	28,816	2,505
Income tax expense (benefit)	2,087	5,578	(1,157)
Net income before noncontrolling interests	12,882	23,238	3,662
Less: Net income (loss) from noncontrolling interests	(300)	1,690	285
Wells Fargo net income	13,182	21,548	3,377
Less: Preferred stock dividends and other	1,115	1,292	1,591
Wells Fargo net income applicable to common stock	$ 12,067	$ 20,256	$ 1,786
Per share information
Earnings per common share (in dollars per share)	$ 3.17	$ 4.99	$ 0.43
Diluted earnings per common share (in dollars per share)	$ 3.14	$ 4.95	$ 0.43
Average common shares outstanding (in shares)	3,805.2	4,061.9	4,118.0
Diluted average common shares outstanding (in shares)	3,837.0	4,096.2	4,134.2
Investment advisory and other asset-based fees [Member]
Noninterest income
Fee income	$ 9,004	$ 11,011	$ 9,863
Commissions and brokerage services fees [Member]
Noninterest income
Fee income	2,242	2,299	2,384
Investment banking fees [Member]
Noninterest income
Fee income	$ 1,439	$ 2,354	$ 1,865

WFC Balance Sheet

2022-12-31

Consolidated Balance Sheet - USD ($)
$ in Millions

Dec. 31, 2022

Dec. 31, 2021

Assets

Cash and due from banks

$ 34,596

$ 24,616

Interest-earning deposits with banks

124,561

209,614

Total cash, cash equivalents, and restricted cash

159,157

234,230

Federal funds sold and securities purchased under resale agreements

68,036

66,223

Trading, at fair value

86,155

88,265

Available-for-sale, at fair value

113,594

177,244

Held-to-maturity, at amortized cost, net of allowance for credit losses

297,059

272,022

Loans held for sale

7,104

23,617

Total loans

955,871

895,394

Allowance for loan losses

(12,985)

(12,490)

Net loans

942,886

882,904

Mortgage servicing rights

10,480

8,189

Premises and equipment, net

8,350

8,571

Goodwill

25,173

25,180

Derivative assets

22,774

21,478

Equity securities

64,414

72,886

Other assets

75,834

67,259

Total assets

^[1]

1,881,016

1,948,068

Liabilities

Noninterest-bearing deposits

458,010

527,748

Interest-bearing deposits

925,975

954,731

Total deposits

1,383,985

1,482,479

Short-term borrowings

51,145

34,409

Derivative liabilities

20,085

9,424

Accrued expenses and other liabilities

69,056

70,957

Long-term debt

174,870

160,689

Total liabilities

^[2]

1,699,141

1,757,958

Wells Fargo stockholders’ equity:

Preferred stock

19,448

20,057

Common stock

9,136

Additional paid-in capital

60,319

60,196

Retained earnings

187,649

180,322

Accumulated other comprehensive loss

(13,381)

(1,702)

Treasury stock, at cost

(82,853)

(79,757)

Unearned ESOP shares

(429)

(646)

Total Wells Fargo stockholders’ equity

179,889

187,606

Noncontrolling interests

1,986

2,504

Total equity

181,875

190,110

Total liabilities and equity

$ 1,881,016

$ 1,948,068

[1]	Our consolidated assets at December 31, 2022 and 2021, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Debt securities, $71 million and $71 million; Loans, $4.8 billion and $4.5 billion; All other assets, $191 million and $234 million; and Total assets, $5.1 billion and $4.8 billion, respectively.
[2]	Our consolidated liabilities at December 31, 2022 and 2021, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Long-term debt, $0 million and $149 million; All other liabilities, $201 million and $259 million; and Total liabilities, $201 million and $408 million, respectively.