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Wells Fargo & Co WFC Stock Quote

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Morningstar‘s Stock Analysis WFC

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Is it the right time to buy or sell?

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Economic Moat

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Revisiting Wells Fargo After Q2 Earnings; Maintaining $58 FVE

Business Strategy and Outlook

| Eric Compton, CFA |

Wells Fargo remains in the middle of a multiyear rebuild. The bank is still under an asset cap imposed by the Federal Reserve, and we don't see this restriction coming off in 2022. Wells Fargo has years of expense savings related projects ahead of it as the bank attempts to get its efficiency ratio back under 60%. We also see a multiyear journey of repositioning and investing in the firm's existing franchises, including growing its capital markets wallet share, bringing an increased focus on cards, and revitalizing an advisory group that has lost advisors for years. We're already starting to see glimpses of the transition to offense from defense, as the bank released two new card products in 2021, the first attempt to do so that we can think of in years. However, we expect the full transition to be a multiyear undertaking.

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Key Statistics WFC

Company Profile WFC

Business Description

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.

Contact
420 Montgomery Street
San Francisco, CA, 94104
T +1 866 249-3302
Industry Banks - Diversified
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 243,674

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