Wells Fargo & Co Q4 2021 Earnings Call Summary - Thomson StreetEvents

Wells Fargo & Co Q4 2021 Earnings Call Summary

Wells Fargo & Co Q4 2021 Earnings Call Summary - Thomson StreetEvents
Wells Fargo & Co Q4 2021 Earnings Call Summary
Published Jan 14, 2022
24 pages (14507 words) — Published Jan 14, 2022
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About This Report

  
Abstract:

Edited Brief of WFC.N earnings conference call or presentation 14-Jan-22 3:00pm GMT

  
Brief Excerpt:

...A. 2021: Earned $21.5b or $4.95 per common share. 1. 2. Expenses declined 7% YoverY, reflecting: Lower operating losses. a. b. Progress on efficiency initiatives. 3. Revenue increased 6%. Benefited from: a. Strong gains from equity securities. i. ii. Gain from sales of student lending, asset management and Corporate Trust businesses. b. Broad-based revenue growth across businesses, including: i. Home lending. ii. Consumer and small business banking (CSBB). iii. Credit card. iv. Auto. v. Commercial real estate. vi. Banking. vii. Wealth and investment management. 4. Credit quality improved significantly, as economy improved and customers had high levels of liquidity. 5. Loan charge-off ratio 18 BP. Declined from 35 BP in 2020. a. 6. Allowance for credit losses (ACL) declined $5.7b. 7. Deposits increased $78b or 6%. 8. Loans grew 1%. Declines in 1H21 offset by 5% increase in 2H21. a. 9. Returned a significant amount of capital to shareholders, including: a. Increasing common stock dividend...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Co
Ticker
WFC.N
Time
3:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Mike, my first question is for you. Could you give us a sense of what deposit growth or runoff assumption you have in your 2022 NII simulation? And similarly, what kind of deposit repricing you presume?

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : And just to clarify, so the betas in the last cycle, if I remember, were driven by a handful of CIB deposits, right? Clearly, that has been pushed out, given assets -- some of that has been pushed out, given asset cap restrictions. So embedded in this NII number is the experience of the last cycle that included the betas contributed by those deposits, whereas as we actually look out today, you have a much better and less rate-sensitive deposit base. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2022 / 3:00PM, WFC.N - Q4 2021 Wells Fargo & Co Earnings Call

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Understood. And my last question is for Charlie. I think your investors are receiving very warmly what you and Mike have said about you're trying to change how this bank is thinking by constantly identifying cost saves to fund future investments. And as we look out in what looks like a more favorable rate backdrop and revenue backdrop, from a growth perspective for banks, do you see yourself reinvesting more of the identified savings as we enter a more favorable revenue backdrop?

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Got it. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2022 / 3:00PM, WFC.N - Q4 2021 Wells Fargo & Co Earnings Call

Table Of Contents

Wells Fargo & Co Q1 2022 Earnings Call Summary – 2022-04-14 – US$ 54.00 – Edited Brief of WFC.N earnings conference call or presentation 14-Apr-22 2:00pm GMT

Radius Health Inc Virtual Fireside Chat Hosted by Wells Fargo Transcript – 2022-03-11 – US$ 54.00 – Edited Transcript of WFC.N brokerage analyst conference call 11-Mar-22 4:00pm GMT

Wells Fargo & Co at RBC Capital Markets Financial Institutions Conference (Virtual) Transcript – 2022-03-09 – US$ 54.00 – Edited Transcript of WFC.N presentation 9-Mar-22 3:40pm GMT

Wells Fargo & Co at Credit Suisse Financial Services Forum Transcript – 2022-02-17 – US$ 54.00 – Edited Transcript of WFC.N presentation 17-Feb-22 1:50pm GMT

Wells Fargo & Co Q4 2021 Earnings Call Transcript – 2022-01-14 – US$ 54.00 – Edited Transcript of WFC.N earnings conference call or presentation 14-Jan-22 3:00pm GMT

Wells Fargo & Co at Goldman Sachs US Financial Services Conference Transcript – 2021-12-07 – US$ 54.00 – Edited Transcript of WFC.N presentation 7-Dec-21 1:00pm GMT

Wells Fargo & Co at BancAnalysts Association of Boston Conference Transcript – 2021-11-05 – US$ 54.00 – Edited Transcript of WFC.N presentation 5-Nov-21 1:40pm GMT

Wells Fargo & Co Q3 2021 Earnings Call Summary – 2021-10-14 – US$ 54.00 – Edited Brief of WFC.N earnings conference call or presentation 14-Oct-21 3:30pm GMT

Wells Fargo & Co Q3 2021 Earnings Call Transcript – 2021-10-14 – US$ 54.00 – Edited Transcript of WFC.N earnings conference call or presentation 14-Oct-21 3:30pm GMT

Levi Strauss & Co Fireside Chat Hosted by Wells Fargo Transcript – 2021-10-13 – US$ 54.00 – Edited Transcript of WFC.N brokerage analyst conference call 13-Oct-21 10:59am GMT

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MLA:
Thomson StreetEvents. "Wells Fargo & Co Q4 2021 Earnings Call Summary" Jan 14, 2022. Alacra Store. May 25, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q4-2021-Wells-Fargo-Co-Earnings-Call-B13217986>
  
APA:
Thomson StreetEvents. (2022). Wells Fargo & Co Q4 2021 Earnings Call Summary Jan 14, 2022. New York, NY: Alacra Store. Retrieved May 25, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q4-2021-Wells-Fargo-Co-Earnings-Call-B13217986>
  
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