secwatch.observer — SEC 8-K summary
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Issuer:     WELLS FARGO & COMPANY/MN (WFC)
CIK:        0000072971
Form:       8-K
Filed at:   2024-10-11T23:59:59+00:00
Accession:  0000072971-24-000218
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wells Fargo Q3 net income $5.1B ($1.42 EPS), down 11% YoY; revenue $20.4B
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- Net income fell to $5.114B from $5.767B YoY; diluted EPS $1.42 vs $1.48.
- Total revenue $20.37B, down from $20.86B; net interest income pressured, fee revenue up 16% YTD.
- Average loans $910.3B (-3.5% YoY); average deposits $1.34T, flat YoY.
- Repurchased 62M shares for $3.5B in Q3; quarterly dividend increased 14%.
- Includes $447M net losses on debt securities from investment portfolio repositioning.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72971/000007297124000218/0000072971-24-000218-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72971/000007297124000218/wfc-20241011.htm
  HTML page:      https://secwatch.observer/filing/0000072971-24-000218

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer