Wells Fargo & Co Q3 2021 Earnings Call Summary - Thomson StreetEvents

Wells Fargo & Co Q3 2021 Earnings Call Summary

Wells Fargo & Co Q3 2021 Earnings Call Summary - Thomson StreetEvents
Wells Fargo & Co Q3 2021 Earnings Call Summary
Published Oct 14, 2021
22 pages (13060 words) — Published Oct 14, 2021
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Brief of WFC.N earnings conference call or presentation 14-Oct-21 3:30pm GMT

  
Brief Excerpt:

...A. Highlights: Earned $5.1b or $1.17 per common share. 1. Included $1.7b decrease in allowance for credit losses, as credit quality continued to improve. a. 2. Revenue declined on lower gains from equity securities, which were elevated in 2Q21, though still strong. 3. Expenses continue to decline, reflecting progress on Co.'s efficiency initiatives and included $250m associated with Sept. OCC enforcement action. 4. For first time since 1Q20, Co. grew both period-end loans and deposits in 3Q. 5. Continues to see that customers have significant liquidity and consumers are continuing to spend. 6. While lower than peak in March, [ consumer/customers' ] median deposit balances continued to remain above pre-pandemic levels: Up 48% for customers who received federal stimulus. a. b. Up 40% for those who did not receive federal aid. 7. Weekly debit card spend during 3Q21 was up every week vs. 2019. Week ending 10/01/21: a. Up 14% vs. 2020. i. ii. Up 26% vs. 2019. b. Areas hardest hit by pandemic...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Co
Ticker
WFC.N
Time
3:30pm GMT
Format:
PDF Adobe Acrobat
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Wells Fargo & Co Q2 2021 Earnings Call Transcript – 2021-07-14 – US$ 54.00 – Edited Transcript of WFC.N earnings conference call or presentation 14-Jul-21 3:30pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Wells Fargo & Co Q3 2021 Earnings Call Summary" Oct 14, 2021. Alacra Store. May 25, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Wells-Fargo-Co-Earnings-Call-B13217983>
  
APA:
Thomson StreetEvents. (2021). Wells Fargo & Co Q3 2021 Earnings Call Summary Oct 14, 2021. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2021-Wells-Fargo-Co-Earnings-Call-B13217983>
  
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