# Wells Fargo & Company (WFC)

> Source: Nexqual · https://nexqual.com/WFC · data as of 2026-10-22 20:02 UTC · cite as "Nexqual, Wells Fargo & Company (WFC), nexqual.com/WFC" · informational, not investment advice.

**Price:** USD 83.01 (+0.72% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 82.42 · day 81.02–83.38 · 52w 72.78–97.76 · market cap $249B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $86.8B, net income $22.6B (26.0% margin) (SEC filings).
- Valuation: P/E 11.0x (avg 12.0x at the last 3 fiscal year-ends).
- 15 of 80 tracked superinvestors hold WFC (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 4 added, 7 reduced, 4 unchanged.
- Analysts: Buy (mean 2.11 on a 1–5 scale) (27 analysts), mean target USD 97.27 (range 88–108).
- Total return with dividends: 1Y +0.4% vs S&P 500 +14.9%; 5Y +85.1% vs S&P 500 +80.3%.
- Next earnings: 2027-01-14, EPS estimate USD 1.87, revenue estimate $22.4B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $79.2B | $74.4B | $82.6B | $82.3B | $83.7B | $86.8B |
| Net income | $22.1B | $13.7B | $19.1B | $19.7B | $21.3B | $22.6B |
| EPS (diluted) | $5.08 | $3.27 | $4.83 | $5.37 | $6.26 | — |
| Net margin | 27.9% | 18.4% | 23.2% | 24.0% | 25.5% | 26.0% |
| Revenue growth | +6.6% | -6.1% | +11.1% | -0.4% | +1.7% | — |
| Cash + short-term investments | $234B | $159B | $236B | $202B | $173B | — |
| Total debt | $195B | $226B | $297B | $176B | $193B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 11.0x · P/S 2.9x · P/B 1.4x · Earnings yield 9.07% · Dividend yield (paid, TTM) 2.24% · Buyback yield (TTM) 7.23%
P/E at fiscal year-ends: Dec 2025 14.2x, Dec 2024 12.3x, Dec 2023 9.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
15 of 80 tracked investors hold WFC (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Tweedy Browne |  | 3.11% | $41.1M | Reduced -3.7% | Q2 2026 |
| Christopher Davis | Davis Advisors | 2.84% | $662M | Reduced -2.2% | Q2 2026 |
| Harry Burn | Sound Shore | 2.27% | $73.6M | Reduced -1.3% | Q2 2026 |
| Francis Chou | Chou Associates | 2.27% | $4.9M | Unchanged | Q2 2026 |
| Richard Pzena | Pzena Investment Management | 2.14% | $730M | Added +0.6% | Q2 2026 |
| David Katz | Matrix Asset Advisors | 1.43% | $17.4M | Reduced -0.6% | Q3 2026 |
| Dodge & Cox Funds | Dodge & Cox | 1.36% | $2.59B | Added +0.5% | Q2 2026 |
| Bill Nygren | Oakmark Funds | 1.20% | $900M | Reduced -0.8% | Q2 2026 |
| First Pacific Advisors |  | 0.81% | $64.9M | Reduced -10.1% | Q2 2026 |
| Mairs & Power | Mairs & Power Funds | 0.66% | $72.1M | Reduced -36.1% | Q2 2026 |
| Thomas Gayner | Markel Group | 0.13% | $16.9M | Unchanged | Q2 2026 |
| Yacktman Asset Management |  | 0.11% | $8.7M | Added +4.3% | Q2 2026 |
| First Eagle Investment | First Eagle Investment Management | 0.05% | $29.8M | Unchanged | Q2 2026 |
| Torray Funds |  | 0.03% | $248K | Unchanged | Q2 2026 |
| Thomas Russo | Gardner Russo & Quinn | 0.01% | $616K | Added +0.0% | Q2 2026 |

## Analysts
Consensus Buy (mean 2.11 on a 1–5 scale), 27 analysts; mean target USD 97.27 (low 88, high 108).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Citigroup | Target lowered | Neutral | $90 → $88 |
| 2026-10-14 | Keefe, Bruyette & Woods | Target lowered | Market Perform | $94 → $90 |
| 2026-10-14 | Morgan Stanley | Target lowered | Overweight | $102 → $101 |
| 2026-10-14 | RBC Capital | Target lowered | Outperform | $100 → $92 |
| 2026-10-05 | UBS | Target lowered | Buy | $104 → $102 |
| 2026-10-05 | Goldman Sachs | Target lowered | Buy | $107 → $96 |
| 2026-10-05 | Morgan Stanley | Upgrade | Equal-Weight → Overweight | $102 |
| 2026-10-02 | JP Morgan | Target lowered | Neutral | $95.5 → $91.5 |
| 2026-10-01 | Evercore ISI Group | Target lowered | Outperform | $95 → $90 |
| 2026-10-01 | Truist Securities | Target raised | Buy | $94 → $95 |
| 2026-07-29 | JP Morgan | Target raised | Neutral | $93.5 → $95.5 |
| 2026-07-15 | Baird | Target raised | Neutral | $85 → $92 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +0.4% | +85.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +0.4% | +13.1% |
| Volatility (annualized) | 25.7% | 30.3% |
| Max drawdown | -23.0% (Jan 2026→May 2026) | -36.3% (Feb 2022→Mar 2023) |

## Peers (Banks - Diversified)
MUFG (Mitsubishi UFJ Financial Group,) USD 21.41 -1.65% · RY (Royal Bank Of Canada) USD 202.06 +0.02% · C (Citigroup, Inc.) USD 122.51 -1.08% · TD (Toronto Dominion Bank (The)) USD 125.12 +0.34% · SAN (Banco Santander, S.A. Sponsored) USD 12.9 -2.93% · HSBC (HSBC Holdings, plc.) USD 91.89 -2.14%

## More
Full page: https://nexqual.com/WFC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Investment Advisory Management & Administrative Service | $2.82B | — | +12.9% |
| Credit Card Merchant Discount | $973.0M | — | +0.1% |
| Investment Advice | $939.0M | — | +34.9% |
| Deposit Account | $747.0M | — | +14.4% |
| Commissions & Brokerage Service Fees | $687.0M | — | +12.6% |
| Trailing Commission | $243.0M | — | +9.5% |
| Total revenue | — | 100% | — |

## Company outlook (8-K filed 2026-10-13)

- "For additional information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the SEC, including the discussion under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC and available on its website at www.sec.gov 1 ."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.87 | $1.87 | +0.1% | $22.39B | 19 |
| Next quarter (ends 2027-03-31) | $1.79 | $1.76 | +1.5% | $22.82B | 12 |
| Current fiscal year (ends 2026-12-31) | $7.34 | $7.26 | +1.0% | $88.17B | 21 |
| Next fiscal year (ends 2027-12-31) | $8.06 | $7.95 | +1.3% | $92.95B | 21 |