What is the company's current stance on returning capital to shareholders?

Wells Fargo continues to actively repurchase its common stock under a significant authorized program, demonstrating a commitment to returning capital to shareholders.

What actions has Wells Fargo taken regarding Iran-related sanctions?

The company blocked and reported consumer bank accounts determined to be linked to the Government of Iran to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Regular consumer activity in these accounts before closure generated de minimis revenue, and the company has no plans for further engagement.

Are there any new executive trading plans in place?

No, during the three months ended September 30, 2024, no director or officer of Wells Fargo adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement.

How much capacity remains in the share repurchase program?

As of September 30, 2024, Wells Fargo had approximately $11.3 billion authorized for future share repurchases.

WELLS FARGO & COMPANY/MN 10-Q Quarterly Report Q3 FY2024

Summary

Wells Fargo & Company's (WFC) Q3 2024 10-Q filing highlights ongoing share repurchase activity and provides disclosure regarding Iran-related sanctions compliance. The company continued to buy back its common stock under a previously authorized $30 billion program, indicating a commitment to returning capital to shareholders. In terms of regulatory compliance, WFC disclosed blocking and reporting consumer bank accounts linked to the Government of Iran, noting minimal gross revenue from these accounts prior to closure and no intention for future engagement.

Financial Highlights

33 data points

Beta

Net Income

$5.11B

EPS (Diluted)

$1.42

Total Assets

$1.92T

Cash & Equivalents

$184.13B

Free Cash Flow

$4.21B

Financial Statements

Beta

Net Income	$5.11B
EPS (Basic)	$1.43
EPS (Diluted)	$1.42
Shares Outstanding (Basic)	3.38B
Shares Outstanding (Diluted)	3.43B

Key Highlights

1Wells Fargo repurchased 61,995,046 shares of common stock during the quarter ended September 30, 2024.
2The total value of shares repurchased in the quarter was approximately $3.4 billion.
3The company has approximately $11.3 billion remaining under its $30 billion share repurchase authorization.
4WFC blocked and reported consumer bank accounts associated with the Government of Iran to OFAC.
5The gross revenue attributable to these Iran-related accounts was de minimis.
6No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during the quarter.

WELLS FARGO & COMPANY/MN Quarterly Report for Q3 Ended Sep 30, 2024

Summary

Financial Highlights

Key Highlights

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