Summary
Wells Fargo & Company (WFC) filed its quarterly report for the period ending March 30, 2021, on May 4, 2021. This filing primarily details ongoing legal proceedings and risk factors, with specific attention to the company's stock repurchase activities during the first quarter of 2021. Investors should note the substantial volume of share repurchases, indicating a commitment to returning capital to shareholders, alongside the significant remaining authorization for future buybacks. The report also references incorporated information regarding legal actions and risk factors from other sections of the filing, suggesting that these remain key areas of focus for the company. The continuation of these legal proceedings and the evolving risk landscape are critical considerations for any investor evaluating Wells Fargo's current financial health and future prospects. The company's robust share repurchase program, however, signals confidence from management in its valuation and financial stability.
Financial Highlights
35 data points| Interest Expense | $1.24B |
| Net Income | $4.64B |
| EPS (Basic) | $1.03 |
| EPS (Diluted) | $1.02 |
| Shares Outstanding (Basic) | 4.14B |
| Shares Outstanding (Diluted) | 4.17B |
Key Highlights
- 1Wells Fargo repurchased a total of 17,211,145 shares of common stock during the first quarter of 2021.
- 2The total value of shares repurchased in Q1 2021 was approximately $481.8 million, based on the weighted average prices.
- 3As of March 31, 2021, the company had a remaining authorization to repurchase up to 650,030,114 shares of common stock.
- 4An additional authorization for 500 million shares of common stock was announced on January 15, 2021, indicating continued capital return plans.
- 5The company's filings incorporate by reference detailed information on "Legal Actions" and "Risk Factors" from other sections, highlighting their importance.
- 6The primary disclosures in this 10-Q filing pertain to stock repurchases, legal proceedings, and risk factors.