Wells Fargo & Company Stock Earnings Reports

Wells Fargo reported a strong third quarter with net income of $5.6 billion and diluted EPS of $1.66, driven by revenue growth (+5% year-over-year), improving credit metrics, and accelerating loan growth. Management highlighted that the lifting of the Federal Reserve asset cap is enabling measured balance-sheet expansion (total assets > $2 trillion) and accelerated growth in markets, investment banking and card portfolios. Fee-based revenue and investment banking fees were notable positives. The company repurchased $6.1 billion of stock in Q3, raised its dividend, and ended the quarter with a CET1 ratio of ~11% and more than $30 billion of capital above regulatory minimums. Management set a new medium‑term target ROTCE of 17%–18% while managing to a CET1 range of ~10%–10.5%, and reiterated that achievement depends on rates, macro and regulatory developments. Full‑year net interest income is expected to be roughly in line with 2024 ($47.7B); Q4 NII is expected at ~$12.4–12.5B. Full‑year non‑interest expense guidance was revised slightly up to ~$54.6B (Q4 ~ $13.5B) reflecting higher-than-expected severance and revenue-related compensation. Key strategic priorities for investors: reaccelerating consumer deposit/checking growth, growing credit card and auto lending, scaling investment banking and markets, expanding wealth management (Wells Fargo Premier), continuing a multi‑year efficiency program, and actively deploying excess capital to buybacks/dividends. Main risks/caveats: execution on organic investments, interest rate and macro paths, potential future regulatory changes, and timing of expense savings versus investment spend.