WFC
FY2026 Q2 · Calendar Q3 2026
Wells Fargo & Company
Wells Fargo's Q2 extended Q1's momentum with broad-based beats: EPS of $1.96 (vs. $1.73 estimated) and revenue of $22.62B (vs. $21.86B estimated). NII rose 5% and non-interest income 13% YoY, supported by double-digit loan and deposit growth and an $847M venture capital equity gain. Capital returns remained aggressive at $9.8B in H1. Management reaffirmed $50B full-year NII guidance and confidence in the 17-18% ROTE target. Shares declined 2.7% on the report day with 2.6x baseline volume before recovering 2.3% subsequently. The stock now trades at $87.30, below the lowest analyst price target of $92, suggesting the market remains skeptical about the quality of earnings given the lumpy VC contribution and unresolved NIM timing questions.
EPS surprise+13.3%
Market move-2.7%
