Please check your download folder. For the year, Wells Fargo generated a 10.2% return on equity (ROE) and 1.02% return on assets (ROA). While these numbers are above the generally accepted industry benchmarks of 10% and 1%, respectively, they are significantly lower than the 11.5% ROE and 1.19% ROA the bank generated in 2018. Tuesday, July 16, 2019 . The top-line revenue and bottom-line earnings figures rarely tell the full story of how any company is doing, but it's certainly a discouraging sign when these numbers are disappointing. John Shrewsberry, Senior EVP & CFO February 12, 2019. Wells Fargo 2018 annual EPS was $4.28, a 4.39% increase from 2017. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. If you use our datasets on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Wells Fargo stock rebounded to its 52-week high of $54.75 on Nov. 29 as a turnaround story. To be clear, this was largely expected given the declining interest rate environment and is likely a big driver of Wells Fargo's lower profitability. It's still early in earnings season, but this is likely to be among the worst in the sector. This is certainly understandable, given the bank's massive fake-accounts scandal and numerous other regulatory and legal issues that have taken place. And that appears to be the case with Wells Fargo in the fourth quarter. @themotleyfool #stocks $WFC, JPMorgan Has Grown Deposits Faster Than Any Large Retail Bank, The Fed Unveils Details About 2nd Round of Bank Stress Tests, Bank of America's Credit Quality Continues to Stand Out, 3 Bargain-Bin Buffett Stocks to Buy Right Now, Copyright, Trademark and Patent Information. Revenue of $19.86 billion failed to live up to estimates as well, and was a significant decline from $21 billion in the same quarter a year ago. 41733 0 obj <> endobj Headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, the internet ( and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. Wells Fargo annual net income for 2018 was $20.689B, a 0.66% increase from 2017. See you at the top! Wells Fargo (NYSE:WFC) has dramatically underperformed the financial sector in recent years. Cumulative Growth of a $10,000 Investment in Stock Advisor, Wells Fargo Earnings: How Did the Bank Do With a New CEO? Wells Fargo 2019 annual EPS was $4.05, a 5.37% decline from 2018. Wells Fargo annual net income for 2019 was $17.938B, a 13.3% decline from 2018. Wells Fargo repurchased 141.1 million shares of stock during the fourth quarter. However, a new CEO was finally brought in this past October, a move that many experts said was necessary for the bank to truly move forward. The Federal Reserve's penalty limiting the bank's growth efforts is still in effect for the time being, so it's not an apples-to-apples comparison with other bank stocks that can largely grow unrestricted. John R. Shrewsberry — Senior Executive Vice President and Chief Financial Officer. Matt specializes in writing about bank stocks, REITs, and personal finance, but he loves any investment at the right price. Wells Fargo & Company is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo posts a deeper-than-expected second-quarter loss and slashes its dividend by a wider-than-expected margin as the coronavirus pandemic slams earnings. Charles W. Scharf — Chief Executive Officer and President. If Scharf succeeds in turning the bank around, the current valuation of just 12.5 times trailing 12-month earnings could end up looking very cheap. 12, 2019 Wells Fargo & Co. (WFC) CEO Tim Sloan on Q4 2018 Results - Earnings Call Transcript We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Digging a little deeper, here are some of the highlights that investors should know: Take these numbers with a big grain of salt. Follow him on Twitter to keep up with his latest work! The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Title: Wells Fargo Reports Fourth Quarter 2019 Net Income of $2.9 Billion Author: Wells Fargo Subject: Wells Fargo Reports Fourth Quarter 2019 Net Income of $2.9 Billion Wells Fargo net income for the twelve months ending June 30, 2020 was $3.931B, a 82.54% decline year-over-year. For the full year 2019, Wells Fargo generated $4.05 in earnings per share, a decline of 5.4% from 2018. 0 What's more, this is the adjusted earnings figure; if you include the bank's litigation expenses, EPS drops to just $0.60. 41756 0 obj <>/Filter/FlateDecode/ID[<6E5C37DD2DC45F449A370A62CC3E70F0><2E042AD58769974D952AF908D09E3B70>]/Index[41733 163]/Info 41732 0 R/Length 129/Prev 1387608/Root 41734 0 R/Size 41896/Type/XRef/W[1 3 1]>>stream