Wells Fargo 8-K: Financial Condition & Reg FD Disclosure

Ticker: WFC-PA · Form: 8-K · Filed: Jan 12, 2024 · CIK: 72971

Wells Fargo & Company/Mn 8-K Filing Summary
FieldDetail
CompanyWells Fargo & Company/Mn (WFC-PA)
Form Type8-K
Filed DateJan 12, 2024
Risk Levellow
Pages3
Reading Time3 min
Key Dollar Amounts$1
Sentimentneutral

Complexity: simple

Sentiment: neutral

Topics: financial-condition, regulation-fd, preferred-stock

TL;DR

**Wells Fargo just dropped an 8-K with updated financials and preferred stock details.**

AI Summary

Wells Fargo & Company filed an 8-K on January 12, 2024, to disclose its results of operations and financial condition, along with Regulation FD disclosure. This filing specifically mentions various preferred stock series, including the 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R. This matters to investors because it provides updated financial information, which can influence the perceived value and stability of the company's stock and preferred shares.

Why It Matters

This filing provides investors with current financial information, which is crucial for evaluating Wells Fargo's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — This 8-K is a routine disclosure of financial information and does not indicate any immediate new risks.

Analyst Insight

A smart investor would review the detailed financial statements that accompany this 8-K to understand the specific results of operations and financial condition, especially concerning the various preferred stock series mentioned, before making any investment decisions.

Key Numbers

  • 6.625% — Fixed-to-Floating Rate (for the Non-Cumulative Perpetual Class A Preferred Stock, Series R)

Key Players & Entities

  • WELLS FARGO & COMPANY (company) — the registrant filing the 8-K
  • Delaware (company) — state of incorporation for Wells Fargo & Company
  • San Francisco (company) — city of Wells Fargo & Company's principal executive office
  • 420 Montgomery Street (company) — address of Wells Fargo & Company's principal executive office
  • 6.625% (dollar_amount) — fixed-to-floating rate for Series R Preferred Stock

Forward-Looking Statements

  • Wells Fargo will continue to issue similar routine financial disclosures. (WELLS FARGO & COMPANY) — high confidence, target: 2024-12-31

FAQ

What is the purpose of this 8-K filing by Wells Fargo & Company?

The purpose of this 8-K filing, dated January 12, 2024, is to disclose information regarding the company's Results of Operations and Financial Condition, as well as Regulation FD Disclosure, as stated in the 'ITEM INFORMATION' section.

What specific types of preferred stock are mentioned in this filing?

The filing specifically mentions several series of preferred stock, including the '6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series R', '7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L', 'Non-Cumulative Perpetual Class A Preferred Stock, Series Y', 'Series Z', 'Series AA', 'Series CC', and 'Series DD'.

What is the date of the earliest event reported in this 8-K?

The date of the earliest event reported in this 8-K is January 12, 2024, as explicitly stated in the 'Date of Report (date of earliest event reported): January 12, 2024' section.

Where is Wells Fargo & Company's principal executive office located?

Wells Fargo & Company's principal executive office is located at 420 Montgomery Street, San Francisco, California 94104, according to the 'BUSINESS ADDRESS' section of the filing.

What is the Commission File Number for Wells Fargo & Company?

The Commission File Number for Wells Fargo & Company is 001-02979, as indicated in the 'Commission File Number' section of the filing.

Filing Stats: 834 words · 3 min read · ~3 pages · Grade level 11.7 · Accepted 2024-01-12 06:45:19

Key Financial Figures

  • $1 — ch Registered Common Stock, par value $1-2/3 WFC New York Stock Exchange ( N

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On January 12, 2024, Wells Fargo & Company (the "Company") issued a news release regarding its results of operations and financial condition for the quarter ended December 31, 2023, and posted on its website its 4Q23 Quarterly Supplement, which contains certain additional information about the Company's financial results for the quarter ended December 31, 2023. The news release is included as Exhibit 99.1 and the 4Q23 Quarterly Supplement is included as Exhibit 99.2 to this report, and each is incorporated by reference into this Item 2.02. The information included in Exhibit 99.1 and Exhibit 99.2 is considered to be "filed" for purposes of Section 18 under the Securities Exchange Act of 1934.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 12, 2024, the Company intends to host a live conference call that will also be available by webcast to discuss the Company's fourth quarter 2023 financial results and other matters relating to the Company. In connection therewith, the Company has posted on its website presentation materials containing certain historical and forward-looking information relating to the Company. The presentation materials are included as Exhibit 99.3 to this report and are incorporated by reference into this Item 7.01. Except for the "2024 net interest income considerations" portion on page 18 of the presentation materials, which portion shall be considered "filed," the rest of Exhibit 99.3 shall not be considered "filed" for purposes of Section 18 under the Securities Exchange Act of 1934 and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description Location 99.1 News Release dated January 12, 2024 Filed herewith 99.2 4Q23 Quarterly Supplement Filed herewith 99.3 Presentation Materials – 4Q23 Financial Results Furnished herewith, except for the "2024 net interest income considerations" portion on page 18, which portion is deemed filed herewith 104 Cover Page Interactive Data File Embedded within the Inline XBRL document SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: January 12, 2024 WELLS FARGO & COMPANY By: /s/ MUNEERA S. CARR Muneera S. Carr Executive Vice President, Chief Accounting Officer and Controller

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