- Wells Fargo’s net interest income for Q3 was $11.69 billion, slightly below the estimate of $11.88 billion.
- The company’s total revenue came in at $20.37 billion, marginally under the projected $20.41 billion.
- Earnings per share (EPS) were reported at $1.42.
- Total average loans amounted to $910.3 billion.
- Average deposits for the period totaled $1.34 trillion, just shy of the estimated $1.35 trillion.
- Return on equity was strong at 11.7%, surpassing the anticipated 10.8%.
- The Common Equity Tier 1 ratio was 11.3%, slightly above the estimate of 11.2%.
- Non-interest expenses were lower than expected, at $13.07 billion compared to the estimate of $13.19 billion.
- Return on tangible common equity was 13.9%, beating the forecast of 12.9%.
- Provisions for credit losses were $1.07 billion, notably below the expected $1.34 billion.
- Analyst recommendations include 15 buy ratings, 12 hold ratings, and no sell ratings.
A look at Wells Fargo & Co Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
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 company offering a range of products, including banking, insurance, investments, and more, faces a mixed long-term outlook based on the Smartkarma Smart Scores. While the company scores high in Value and Growth, indicating solid fundamentals and potential for expansion, it lags in Resilience. This suggests some vulnerability to economic downturns or market uncertainties. With a moderate score in Dividend and Momentum, Wells Fargo seems to offer a stable dividend but may lack significant short-term price momentum.
Overall, Wells Fargo & Co‘s Smart Scores paint a picture of a company with strong underlying value and growth prospects but with some notable areas of concern regarding resilience and momentum. As the company navigates the evolving financial landscape, investors may need to consider both the positive attributes and potential challenges highlighted by these scores when assessing their long-term investment strategy.
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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