10-QPeriod: Q1 FY2022

WELLS FARGO & COMPANY/MN Quarterly Report for Q1 Ended Mar 31, 2022

Filed May 3, 2022For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

Wells Fargo & Company (WFC) filed its quarterly report for the period ending March 30, 2022. While the provided excerpt primarily focuses on supplemental information like legal proceedings, risk factors, unregistered sales of equity securities, and exhibits, it highlights the company's ongoing share repurchase program. In the first quarter of 2022, WFC repurchased approximately 110.1 million shares of its common stock, indicating a commitment to returning capital to shareholders. The filings also point to various plan amendments and compensation program descriptions, suggesting internal corporate governance and employee benefit adjustments. Investors should note that this excerpt does not contain detailed financial performance metrics such as revenue, net income, or changes in key balance sheet items. Therefore, a comprehensive assessment of WFC's financial health and operational performance for the quarter would require a review of the full 10-Q filing, including the financial statements and management's discussion and analysis.

Financial Highlights

34 data points
Beta

Net Income

$3.79B

EPS (Diluted)

$0.91

Total Assets

$1.94T

Cash & Equivalents

$201.90B

Free Cash Flow

$199.00M

Financial Statements
Beta
Interest Expense$960.00M
Net Income$3.79B
EPS (Basic)$0.92
EPS (Diluted)$0.91
Shares Outstanding (Basic)3.83B
Shares Outstanding (Diluted)3.87B

Key Highlights

  • 1Wells Fargo repurchased a significant number of shares (110,093,352) in Q1 2022 under an existing authorization.
  • 2The share repurchase program has substantial remaining capacity, with over 250 million shares authorized for repurchase.
  • 3The filing references incorporated information regarding legal proceedings and risk factors, suggesting these areas are being actively managed and disclosed.
  • 4Several amendments to employee compensation and deferred compensation plans were filed, indicating updates to benefit structures.
  • 5New director compensation programs for 2022 were also filed, reflecting adjustments in executive and director remuneration.
  • 6The company continues to reference prior filings for foundational corporate documents like its Restated Certificate of Incorporation and By-Laws.

Frequently Asked Questions

In the quarter ended March 31, 2022, Wells Fargo repurchased a total of 110,093,352 shares of its common stock. The weighted average price paid per share varied by month, ranging from $49.07 in March to $56.79 in February.

Yes, the company has a substantial remaining authorization to repurchase shares. As of the end of March 2022, there were 250,724,915 shares that could yet be repurchased under the Board's authorization.

This particular excerpt of the 10-Q filing does not include detailed financial statements or performance metrics. For information on Wells Fargo's revenue, net income, asset quality, and other key financial indicators for the quarter ending March 30, 2022, investors should refer to the full 10-Q report, specifically the financial statements and the Management's Discussion and Analysis section.

This filing includes references to incorporated documents such as the Restated Certificate of Incorporation and By-Laws. It also lists several exhibits pertaining to amendments to deferred compensation and incentive plans, as well as new non-employee director compensation programs, indicating ongoing corporate governance and compensation structure updates.