WELLS FARGO & COMPANY/MN (WFC) Company Report

Whitestone REIT (NYSE: WSR) acquired the 90,391 sqft restaurant-anchored World Cup Plaza in Frisco, TX, adjacent to Toyota Stadium (21,000 seats) undergoing a $182 million renovation and drawing 1.4 million annual visitors.
The center sits at the intersection north of State Highway 121 and the North Dallas Tollway, with traffic of approximately 135,000 vehicles per day, opposite Frisco Square’s 147-acre mixed-use development.
Developed in 2007, World Cup Plaza hosts retailers and restaurants such as Blue Goose Cantina and Wells Fargo, serving 293,951 people within a 5-mile radius with an average household income of $149,335.
Whitestone plans to leverage expected 2026 World Cup traffic and its leasing platform to drive rent growth and enhance cash flow durability in the affluent Frisco submarket.

Nov 7, 2025, 12:00 PM

Press Release

Wells Fargo raises ROTC target and outlines strategic priorities at BancAnalysts Conference

WFC

Wells Fargo raised its ROTCE target from 15% to 17%–18%, signaling ambition for best-in-class returns now that the asset cap has been lifted.
In the consumer bank, Wells Fargo has replatformed its card products with new vintages maturing, is right-sizing its mortgage business, has reduced servicing expenses by about one-third, and is rolling out branch incentives and P&L reporting—efforts that drove a pickup in direct card originations; its VW/Audi auto lending partnership became operational in May/June with strong, consistent credit performance.
The commercial bank is focused on growth, having added roughly 200 bankers across 15–20 priority markets to gain share, while the commercial investment bank will expand fee-based businesses (investment banking, markets, CRE) and protect returns through improved mix and pricing.
Wealth management attrition has stabilized and recruiting is improving across three channels: Wells Fargo Premier (affluent clients with ≥ $250K, drawing deposit and lending flows), the core private client channel (adding high-quality advisors and alternatives), and the independent channel—all aimed at boosting lending, margins, and alternative product penetration.
Wells Fargo reduced headcount to ~210K and achieved ~$15 B of gross expense saves (reinvested into the business), is deploying technology and AI to lower its efficiency ratio, and targets a CET1 ratio of 10%–10.5% (versus ~11% today) to balance client growth and capital returns amid pending regulatory relief.

Nov 6, 2025, 1:10 PM

Transcript

Wells Fargo outlines strategic reset and targets at BancAnalysts Association conference

WFC

Guidance Update

Wells Fargo has reached its 15% ROE goal following the asset cap removal and will reset longer-term targets, aiming for best-in-class returns across all segments.
Consumer banking improvements include maturing the card business, rightsizing mortgage servicing, and boosting branch productivity and sales culture, driving strong Q3 credit card originations.
In commercial banking, the focus is on market share expansion by adding roughly 200 commercial bankers across 15–20 key markets to grow the franchise despite already leading returns.
Wealth management has stabilized after past advisor attrition; growth initiatives include the affluent Premier channel, renewed recruiting in the core advisor network, and margin expansion via lending and alternatives.
The firm targets a lower efficiency ratio through technology, workforce cuts (275,000 → 210,000 employees), real estate and third-party savings, and AI automation, while maintaining a ~11% CET1 ratio with flexibility to grow and return capital.

Nov 6, 2025, 1:10 PM

Transcript

GATX reports 2025 Q3 results

WFC

Earnings

Guidance Update

M&A

GATX posted Q3 net income of $82.2 million, or $2.25 per diluted share, down from $89.0 million, or $2.43 per share, in Q3 2024.
Year to date, net income was $236.3 million (or $6.46 per diluted share), up from $207.7 million (or $5.68 per share) in the prior year period.
Rail North America fleet utilization was 98.9% at quarter end, with a 22.8% renewal lease rate increase and an 87.1% renewal success rate in Q3 2025.
The company reiterated full-year 2025 EPS guidance of $8.50–$8.90 and remains on track to close the acquisition of Wells Fargo’s rail operating lease assets in Q1 2026.

Oct 21, 2025, 12:30 PM

Press Release

National Fuel Gas to acquire CenterPoint’s Ohio gas utility

WFC

M&A

National Fuel Gas Company entered into a definitive agreement to acquire CenterPoint Energy’s Ohio natural gas utility for $2.62 billion (cash-free, debt-free), representing ~1.6× estimated 2026 rate base of $1.6 billion.
The deal will double National Fuel’s regulated gas utility rate base to ~$3.2 billion and add ~335,000 customers across 5,900 miles of pipeline in Ohio, bringing total customers to ~1.1 million in New York, Pennsylvania, and Ohio.
Financing includes a fully committed bridge facility, a $1.2 billion promissory note at 6.5% interest, and planned permanent financing of $300–400 million in equity plus debt and free cash flow to maintain investment grade.
Closing is expected in Q4 2026, subject to Ohio PUC approval, HSR review, and other customary conditions.

Oct 21, 2025, 10:30 AM

Press Release

Wells Fargo reports Q3 2025 results

WFC

Earnings

Share Buyback

Dividends

Wells Fargo delivered net income of $5.6 billion, or $1.66 per diluted common share in Q3 2025, driving a 12.8% ROE and 15.2% ROTCE on an efficiency ratio of 65%.
Total revenue rose 5% year-over-year to $21.4 billion, with net interest income of $12.0 billion (+2%) and noninterest income of $9.5 billion (+9%).
Average loans totaled $928.7 billion (+2% YoY) and average deposits were $1.34 trillion, supporting a net interest margin of 2.61%.
Capital strength remained solid with a CET1 ratio of 11.0%, LCR of 121%, and TLAC at 24.6%; the bank repurchased $6.1 billion of stock and raised its quarterly dividend to $0.45 per share.

Oct 14, 2025, 2:00 PM

Presentation

Wells Fargo reports Q3 2025 earnings

WFC

Earnings

Share Buyback

Dividends

Wells Fargo earned $5.6 billion net income in Q3 2025, up 9% YoY, with EPS of $1.66 and ROTCE of 15.2%.
Revenue rose 5% YoY driven by net interest income growth and fee-based revenue, including a 25% increase in investment banking fees.
Average loans grew by $18.4 billion YoY, marking the strongest quarterly loan growth in over three years, while average deposits declined by $1.8 billion due to reduced corporate treasury balances.
Following the lifting of the asset cap, total assets exceeded $2 trillion for the first time, and trading-related assets in Corporate & Investment Banking rose 50% since end-2023.
The bank repurchased $6.1 billion of common stock, raised its dividend, and ended the quarter with over $30 billion of capital above regulatory minimums, targeting a medium-term ROTCE of 17–18%.

Oct 14, 2025, 2:00 PM

Transcript

Wells Fargo posts strong Q3 2025 results after asset cap lift

WFC

Earnings

Guidance Update

Wells Fargo’s Q3 2025 net income was $5.6 billion with EPS of $1.66, surpassing Wall Street expectations.
The Federal Reserve’s June removal of the $1.95 trillion asset cap drove a 2% increase in net interest income and a 9% rise in noninterest income.
Noninterest expenses rose 6% due to higher severance and technology costs, though efficiency initiatives and improved credit performance underpinned profitability.
The bank raised its medium-term ROTCE target to 17–18% (from 15%), underscoring confidence in its growth trajectory.

Oct 14, 2025, 10:43 AM

Bloomberg

Wells Fargo Reports Q3 2025 Financial Results

WFC

Earnings

Share Buyback

Wells Fargo posted Q3 2025 net income of $5.589 billion, or $1.66 per diluted share, up from $5.114 billion, $1.42 in Q3 2024.
Total revenue reached $21.436 billion, with noninterest expense of $13.846 billion and a provision for credit losses of $1.681 billion.
Average loans grew to $928.7 billion (+2% year-over-year) and average deposits were $1.3399 trillion.
Key performance metrics included ROE of 12.8%, ROTCE of 15.2%, and a CET1 ratio of 11.0%.
In Q3, the bank repurchased 74.6 million shares for $6.1 billion.

Oct 14, 2025, 10:28 AM

8-K

Wells Fargo downgrades Western Alliance and Bank of N.T. Butterfield

WFC

Wells Fargo analyst Timur Braziler downgraded Western Alliance Bancorporation from “Equal-Weight” to Underweight and raised the price target to $90.00 from $85.00, reflecting caution amid higher valuation.
He also downgraded Bank of N.T. Butterfield from Overweight to “Equal-Weight” and lowered its price target to $50.00 from $54.00, citing concerns over potential interest rate cuts and an inflated balance sheet.
Bank of N.T. Butterfield operates in Bermuda, the Cayman Islands, and the UK, providing retail and corporate banking and wealth management, with 3-year revenue growth of 8.4% and a strong net margin.
Other analysts remain optimistic on Western Alliance, with TD Cowen initiating a Buy rating (PT $118.00), Citigroup Buy (PT $104.00), and Piper Sandler Overweight (PT $105.00).

Sep 29, 2025, 10:45 AM

CNBC

Earnings Transcripts

Quarterly earnings call transcripts for WELLS FARGO & COMPANY/MN.

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