Wells Fargo & Co (NYSE:WFCpL.PFD)
$ 1178.8699 2.0099 (0.17%) Market Cap: - Enterprise Value: 191.75 Bil PE Ratio: 14.67 PB Ratio: 1.43 GF Score: 72/100

Wells Fargo & Co at Barclays Global Financial Services Conference Transcript

Sep 13, 2022 / 12:15PM GMT
Release Date Price: $1240 (-0.48%)
Jason Michael Goldberg
Barclays Bank PLC, Research Division - MD & Senior Equity Analyst

Moving right along, very pleased to have Wells Fargo up next. From the company, Mike Santomassimo, the Chief Financial Officer. Mike, welcome.

Michael P. Santomassimo
Wells Fargo & Company - Senior EVP & CFO

Thanks, Jason.

Questions & Answers

Jason Michael Goldberg;Michael P. Santomassimo
Barclays Bank PLC, Research Division - MD & Senior Equity Analyst;Wells Fargo & Company -

Maybe just jump right in. Obviously, you have a very broad consumer customer base. On the earnings calls, you guys noted that certain cohorts of customers have seen average balances that have declined to pre-pandemic levels as kind of stimulus payments came to an end. You also kind of talked about potentially debit card spend also declining, while inflation appears to be impacting certain categories of spending. Maybe just kind of update us in terms of kind of your current lay of the land.

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