Analyst Consensus ?
ConsensusHold41 ratings
Bullish2048.8%
Neutral1843.9%
Bearish37.3%
Wells Fargo & Company · WFC-PA · FY2026 Q1 · Calendar Q2 2026
Wells Fargo: Growth Broadens as NIM and Capital Rules Remain Risks
The current analysis supports a constructive but qualified view: broad loan, deposit, markets and wealth growth remains supportive, while margin compression, capital-rule changes and credit risks could constrain returns.
Reported Before market openNYSEFinancial Services
$209.74B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.60
Consensus $1.58
EPS surprise
+1.3%
Reported versus consensus
Reported revenue
$21.45B
Consensus $21.79B
Revenue surprise
-1.6%
Reported versus consensus
Market reaction
unavailable
Stock move
—
Event window
SPY move
—
Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
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Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about WFC-PA FY2026 Q1
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How did the market react to WFC-PA FY2026 Q1 earnings, and why?What changed in WFC-PA's guidance and outlook in FY2026 Q1?Give me the bull and bear case for WFC-PA after FY2026 Q1 earnings.
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Transcript intelligence
What changed
Relative to the prior-quarter analysis, Wells Fargo reported Q1 2026 broad-based growth, maintained its 2026 net-interest-income guidance, and highlighted the closure of its final consent order. The current analysis also identified proposed capital rules, modest NIM compression and an isolated fraud loss as notable developments.
Guidance delta
Maintained 2026 net-interest-income guidance and the 17%–18% medium-term ROTCE target; the supplied analysis does not quantify a change from the prior quarter.
Key takeaways
- Management described broad-based Q1 growth, with revenue up 6% year over year and EPS up 15% year over year.
- Loan and deposit growth supported net interest income despite modest margin compression; markets revenue and wealth inflows also strengthened.
- Capital remained solid, while management highlighted technology, AI, wealth, cards, markets and investment-banking initiatives.
Management priorities
- Invest in technology and AI, including the Fargo virtual assistant
- Expand wealth advisory capacity and travel-reward cards for Premier and Private Wealth clients
- Accelerate markets and investment-banking growth while maintaining expense discipline
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 15, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 21, 2023 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 31, 2023 |
| Atlantic Equities | Overweight | Overweight | Maintain | Jul 31, 2023 |
| Raymond James | Strong Buy | Strong Buy | Maintain | Jul 16, 2023 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 16, 2023 |
| Odeon Capital | Hold | Buy | Downgrade | Jul 16, 2023 |
| Citigroup | Buy | Buy | Maintain | Jul 16, 2023 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2023 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Jul 6, 2023 |
| JP Morgan | Neutral | Neutral | Maintain | Jun 26, 2023 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jun 13, 2023 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Apr 16, 2023 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 13, 2023 |
| Barclays | Overweight | Overweight | Maintain | Apr 11, 2023 |
| Baird | Outperform | Outperform | Maintain | Apr 4, 2023 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jan 16, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 17, 2022 |
| Argus Research | Buy | Buy | Maintain | Jan 17, 2022 |
| B of A Securities | Buy | Neutral | Upgrade | Jun 3, 2021 |
| UBS | Neutral | Buy | Downgrade | May 18, 2021 |
| Seaport Global | Buy | Neutral | Upgrade | Jan 18, 2021 |
| Compass Point | Neutral | Neutral | Maintain | May 12, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 6, 2020 |
| CFRA | Hold | Sell | Upgrade | Mar 3, 2020 |
| Buckingham Research | Neutral | Neutral | Maintain | Jul 16, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Oct 14, 2018 |
| Bernstein | Outperform | Market Perform | Upgrade | Jan 2, 2018 |
| Berenberg | Sell | Hold | Downgrade | Jul 20, 2017 |
| Guggenheim | Neutral | Sell | Upgrade | Apr 24, 2017 |
| Rafferty Capital | Sell | Hold | Downgrade | Apr 11, 2017 |
| Susquehanna | Neutral | Positive | Downgrade | Nov 30, 2016 |
| FBR Capital | Market Perform | Outperform | Downgrade | Oct 18, 2016 |
| Keefe, Bruyette& Woods | Perform | Outperform | Downgrade | Oct 16, 2016 |
| Societe Generale | Sell | Hold | Downgrade | Mar 8, 2015 |
| Miller Tabak | Buy | Hold | Upgrade | Mar 8, 2015 |
| S&P Capital IQ | Hold | Buy | Downgrade | Jan 13, 2014 |
| Sterne Agee | Neutral | Buy | Downgrade | Jun 13, 2013 |
| Stifel | Buy | Hold | Upgrade | Feb 10, 2013 |
| Oppenheimer | Perform | Outperform | Downgrade | Jan 13, 2013 |
| ISI Group | Buy | Buy | Maintain | Jul 12, 2012 |
Track every rating change on WFC-PA the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies.…
Historical context
All WFC-PA earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MS-PO Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Wealth flows and equities lead a strong Q3 |
| MS-PE Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Wealth flows and AI financing drive a strong Q3 |
| MS-PL Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Record Q3, strong wealth flows and AI ambitions |
| MS-PA Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Record Q3, strong flows, higher AI investment |
| BAC-PS Bank of America Corporation | FY2026 Q3 · Calendar Q4 2026 | — | — | Bank of America pairs loan growth with higher technology investment |
| BAC-PP Bank of America Corporation | FY2026 Q3 · Calendar Q4 2026 | — | — | BofA: Core Banking Growth Offsets Markets Weakness and Settlement Charge |
Latest beats and misses
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Missed on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-15. For educational purposes only; not investment advice.