Summary
Wells Fargo & Company (WFC) filed its quarterly report for the period ending June 29, 2022, on July 31, 2022. While the filing primarily incorporates by reference information from other sections and exhibits, it provides insight into the company's stock repurchase activity during the second quarter of 2022. Investors should note the ongoing authorizations for share repurchases, indicating a potential return of capital to shareholders. The report also references "Legal Actions" and "Risk Factors" which are crucial for understanding the company's operational environment and potential liabilities. The specific details within these referenced sections would be critical for a comprehensive investor analysis, but based on the provided extract, the focus is on corporate governance and capital management through share buybacks.
Financial Highlights
34 data points| Interest Expense | $1.36B |
| Net Income | $3.14B |
| EPS (Basic) | $0.75 |
| EPS (Diluted) | $0.75 |
| Shares Outstanding (Basic) | 3.79B |
| Shares Outstanding (Diluted) | 3.82B |
Key Highlights
- 1The company repurchased a total of 88,786 shares of its common stock during the quarter ended June 30, 2022.
- 2Share repurchases were conducted under an existing authorization of up to 500 million shares approved in January 2021, which has no expiration date.
- 3The weighted average price paid per share for repurchases varied by month, ranging from $42.45 in June to $47.54 in April.
- 4As of June 30, 2022, approximately 250,636,129 shares could still be repurchased under the current authorization.
- 5The filing incorporates by reference detailed information on "Legal Actions" and "Risk Factors" from other sections of the report, which are key areas for investor due diligence.
- 6Various exhibits are listed, including the company's Restated Certificate of Incorporation, By-Laws, and long-term incentive plans, providing insights into corporate governance and compensation structures.