Analyst Consensus ?
ConsensusHold41 ratings
Bullish2048.8%
Neutral1843.9%
Bearish37.3%
Wells Fargo & Company · WFC-PY · FY2026 Q1 · Calendar Q2 2026
Wells Fargo reports solid Q1 as growth offsets NIM pressure
The supplied analysis supports a constructive but qualified view: Wells Fargo’s loan, deposit, consumer and fee-growth initiatives provide operating momentum, while NIM compression, capital-rule uncertainty and credit risks could limit returns.
Reported Before market openNYSEFinancial Services
$190.09B 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
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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-PY FY2026 Q1
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How did the market react to WFC-PY FY2026 Q1 earnings, and why?What changed in WFC-PY's guidance and outlook in FY2026 Q1?Give me the bull and bear case for WFC-PY after FY2026 Q1 earnings.
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Transcript intelligence
What changed
The current analysis emphasizes Q1 growth and strategic simplification, including the railcar leasing sale and final consent-order closure. Compared with the prior quarter, management’s priorities now more explicitly include Fargo and digital investment, new travel cards, wealth-adviser expansion, and navigating proposed capital rules.
Guidance delta
Maintained. Management remained confident in its 17–18% ROTCE objective despite anticipated NIM compression.
Key takeaways
- Management described Q1 growth across loans, deposits, consumer banking, commercial banking, CIB and wealth.
- Strategic progress included the railcar leasing sale and closure of the final outstanding consent order.
- Consumer momentum included new travel cards, doubled auto originations, and growth in credit-card and checking accounts.
- The main tension is continued growth and technology investment alongside NIM compression and evolving capital rules.
Management priorities
- Expand consumer products, including travel-reward cards and auto financing.
- Enhance digital engagement through Fargo and other technology investments.
- Grow wealth advisory and markets and investment-banking pipelines.
- Maintain capital returns while managing capital-rule changes and the CET1 position.
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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 |
Named analyst price targets
Upside is unavailable because neither a positive current snapshot nor previous close is persisted. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $62 | $24.41 | - | Jul 18, 2022 |
| Credit Suisse | Analyst unavailable | $55 | $24.49 | - | Jul 18, 2022 |
| Barclays | Analyst unavailable | $58 | $24.41 | - | Jul 18, 2022 |
| Raymond James | Analyst unavailable | $52 | $24.41 | - | Jul 18, 2022 |
| Citigroup | Analyst unavailable | $47 | $24.4 | - | Jul 12, 2022 |
| Morgan Stanley | Analyst unavailable | $59 | $24.3 | - | Jul 12, 2022 |
| RBC Capital | Analyst unavailable | $45 | $23.77 | - | Jul 1, 2022 |
| Raymond James | Analyst unavailable | $50 | $23.65 | - | Jun 24, 2022 |
Track every rating change on WFC-PY the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWells Fargo & Company stands as a major diversified financial services entity, delivering a comprehensive suite of banking, investment, mortgage, and both consumer and commercial financing solutions across the United States and internationally. Its extensive operations are structured across four distinct segments: 1. Consumer Banking and Lending: This division targets individual consumers and small enterprises, providing a broad spectrum of financial offerings. Key among these are deposit accounts (checking and savings), payment card facilities (credit and debit), and various lending options such as home, automobile, personal, and small business loans. 2. Commercial Banking: For private, family-owned, and specific public corporations, this segment crafts tailored financial strategies.…
Historical context
All WFC-PY 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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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-15T03:06:01.232055+00:00
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.