- Net Interest Income: Missed estimates, reported $11.92 billion vs. $12.12 billion expected.
- Revenue: Exceeded estimates, reported $20.69 billion vs. $20.28 billion expected.
- Commercial Banking Revenue: Fell short, reported $3.12 billion vs. $3.15 billion expected.
- Corporate and Investment Banking Revenue: Surpassed estimates, reported $4.84 billion vs. $4.62 billion expected.
- Wealth & Investment Management Total Revenue: Slightly better than expected, reported $3.86 billion vs. $3.83 billion expected.
- EPS: Reported at $1.33.
- Total Average Loans: Slightly lower, reported $917.0 billion vs. $924.39 billion expected.
- Efficiency Ratio: Met expectations at 64% vs. 64.3% expected.
- Mortgage Banking Non-Interest Income: Exceeded expectations, reported $243 million vs. $210.4 million expected.
- Net Interest Margin: Slightly below estimates, reported 2.75% vs. 2.77% expected.
- Total Average Deposits: Lower than expected, reported $1.35 trillion vs. $1.36 trillion expected.
- Return on Assets: Reported at 1.03%.
- Return on Equity: Beat estimates, reported 11.5% vs. 11.2% expected.
- Common Equity Tier 1 Ratio: Slightly below estimates, reported 11% vs. 11.1% expected.
- Non-Interest Expenses: Higher than expected, reported $13.29 billion vs. $13.01 billion expected.
- Return on Tangible Common Equity: Beat estimates, reported 13.7% vs. 13.2% expected.
- Consumer Banking and Lending Total Revenue: Met expectations, reported $9.01 billion vs. $9 billion expected.
- Provision for Credit Losses: Lower than expected, reported $1.24 billion vs. $1.28 billion expected.
- Personnel Expenses: Below estimates, reported $8.58 billion vs. $8.72 billion expected.
- Analyst Ratings: 14 buys, 16 holds, and 0 sells.
A look at Wells Fargo & Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 5 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Wells Fargo & Company, a diversified financial services giant, is poised for a bright long-term future based on the Smartkarma Smart Scores. The company excels in areas such as growth and value, boasting scores of 5 and 4 respectively. This indicates a high potential for expansion and solid financial fundamentals. Additionally, with a momentum score of 4, Wells Fargo is showing strong positive market momentum. However, the company faces some challenges in terms of resilience, with a score of 2, suggesting potential vulnerabilities in turbulent times. Its dividend score of 3 indicates a moderate outlook for dividend payments to shareholders.
Despite facing some resilience concerns, Wells Fargo & Company shines with its strong growth prospects and solid value proposition. Operating in various financial sectors such as banking, insurance, and investments, the company’s diversified portfolio positions it well for long-term success. With a strong presence in North America and international markets through various distribution channels, Wells Fargo is poised to capitalize on future opportunities and navigate potential challenges with its robust overall Smart Scores.
*Based on the description provided: Wells Fargo & Company is a diversified financial services company offering a range of services including banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. The company operates through physical stores, the Internet, and other distribution channels across North America and internationally.*
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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