Overview

* Wells Fargo ( WFC ) Q3 revenue of $21.4 bln beats analyst expectations

* Reports Q3 EPS of $1.66

* Company repurchased $6.1 bln of common stock in Q3

Outlook

* Wells Fargo ( WFC ) cites U.S. economic resilience as a positive factor for future performance

* Company highlights continued growth in debit and credit card spending

* Wells Fargo ( WFC ) optimistic about long-term growth leveraging its strong franchise

Result Drivers

* NET INTEREST INCOME - Higher net interest income and broad-based growth in fee-based income drove revenue growth

* LOAN GROWTH - Highest linked-quarter loan growth in over three years contributed to balance sheet expansion

* CREDIT PERFORMANCE - Improved credit performance supported financial results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $21.43 $21.15

Revenue bln bln (18

Analysts

)

Q3 EPS Beat $1.66 $1.54

(20

Analysts

)

Q3 Net $5.58

Income bln

Q3 Net $11.95

Interest bln

Income

Q3 CET1 11%

Capital

Ratio

Q3 $681 mln

Credit

Loss

Provisio

n

Q3 ROE 12.80%

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 10 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Wells Fargo & Co ( WFC ) is $90.00, about 12.3% above its October 13 closing price of $78.92

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)