Analyst Consensus ?
ConsensusHold41 ratings
Bullish2048.8%
Neutral1843.9%
Bearish37.3%
Wells Fargo & Company · WFC-PL · FY2026 Q1 · Calendar Q2 2026
Wells Fargo Q1 2026: Growth Continues as Margins Compress
The supplied analysis supports a constructive operating picture: broad loan, deposit, and revenue growth is continuing, while margin compression, capital-rule uncertainty, and credit risks constrain the outlook.
Reported Before market openNYSEFinancial Services
$209.12B 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
—
Up to 20 sessions
Price and volume data were unavailable at publication time.
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How did the market react to WFC-PL FY2026 Q1 earnings, and why?What changed in WFC-PL's guidance and outlook in FY2026 Q1?Give me the bull and bear case for WFC-PL after FY2026 Q1 earnings.
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Transcript intelligence
What changed
The analysis highlights closure of the final outstanding consent order, completion of the railcar-leasing exit, and Fargo surpassing 1 billion customer interactions. Guidance remained unchanged; technology, AI, and marketing investment continued.
Guidance delta
Full-year guidance was maintained; the analysis does not identify a quantitative change.
Key takeaways
- Revenue rose 6% year over year and diluted EPS rose 15%, according to the supplied analysis.
- Loans grew 11% and deposits 7%; net interest income increased 5% despite margin compression.
- CET1 was 10.3%, with $5.4 billion returned to shareholders; technology, AI, and marketing investment continued.
Management priorities
- Continue organic growth across consumer, commercial, and wealth franchises.
- Expand AI and digital tools, including the Fargo virtual assistant.
- Grow Markets and investment banking while targeting 17%-18% medium-term ROTCE.
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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 |
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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-PL 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.