# Wells Fargo & Company/Mn Moat

Status: stale. Policy: company-analysis-1.

Wells Fargo demonstrates realized deposit-fee repricing, growing customer engagement and improved earnings through September 2026. These results support local pricing discretion and execution, but do not establish durable switching costs, a relative funding-cost advantage or another structural moat. Funding mix and net interest margin remain under pressure despite wider consumer deposit spreads. The evidence is insufficient to establish a moat, rather than sufficient to establish its absence.

- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000133/wfc-20251231_d2.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000133/wfc-20251231_d2.htm) · 2026-02-24
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000302/wfc-20260630.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000302/wfc-20260630.htm) · 2026-07-28
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000200/wfc-20260318.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000200/wfc-20260318.htm) · 2026-03-18
- [https://www.sec.gov/Archives/edgar/data/72971/000007297125000066/wfc-20241231.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297125000066/wfc-20241231.htm) · 2025-02-25
- [https://www.sec.gov/Archives/edgar/data/72971/000007297124000064/wfc-20231231.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297124000064/wfc-20231231.htm) · 2024-02-20
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000217/wfc-20260331.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000217/wfc-20260331.htm) · 2026-04-29
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000318/wfc3qer10-13x26ex991xrelea.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000318/wfc3qer10-13x26ex991xrelea.htm) · 2026-10-13
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000318/wfc3qer10-13x26ex992xsuppl.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000318/wfc3qer10-13x26ex992xsuppl.htm) · 2026-10-13
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000288/wfc2qer07-14x26ex991xrelea.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000288/wfc2qer07-14x26ex991xrelea.htm) · 2026-07-14
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000288/wfc2qer07-14x26ex992xsuppl.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000288/wfc2qer07-14x26ex992xsuppl.htm) · 2026-07-14
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000213/wfc1qer04-14x26ex991xrelea.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000213/wfc1qer04-14x26ex991xrelea.htm) · 2026-04-14
- [https://www.sec.gov/Archives/edgar/data/72971/000007297126000213/wfc1qer04-14x26ex992xsuppl.htm](https://www.sec.gov/Archives/edgar/data/72971/000007297126000213/wfc1qer04-14x26ex992xsuppl.htm) · 2026-04-14

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