Wells Fargo & Company · WFC-PZ · FY2026 Q1 · Calendar Q2 2026

Wells Fargo posts strong Q1 growth while maintaining outlook

The current analysis supports a constructive operating trajectory: broad loan, deposit, wealth and markets growth, solid credit, and maintained guidance. The main counterweights are margin compression, regulatory-capital uncertainty, and exposure risks; market reaction is unavailable.

Reported Before market openNYSEFinancial Services $58.91B 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-PZ FY2026 Q1 earnings, and why?What changed in WFC-PZ's guidance and outlook in FY2026 Q1?Give me the bull and bear case for WFC-PZ after FY2026 Q1 earnings.

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Transcript intelligence

What changed

Compared with the prior-quarter analysis, Wells Fargo reported continued broad-based growth, loans above $1 trillion, stronger card and auto activity, 11% growth in wealth assets, and a 19% increase in markets revenue. It also closed its final outstanding consent order and completed the railcar-leasing sale.

Guidance delta

Management maintained its 2026 net interest income outlook and 17–18% medium-term ROTCE target.

Key takeaways

  • Management described broad-based growth across consumer, commercial, corporate and investment banking, and wealth businesses.
  • Loan balances exceeded $1 trillion for the first time since 2020; credit performance remained solid with a 45-basis-point net charge-off ratio.
  • Capital remained strong at a 10.3% CET1 ratio, with $5.4 billion returned to shareholders.
  • Management cited margin compression but left net interest income guidance unchanged.
  • The bank closed its final outstanding consent order and continued simplifying the business.

Management priorities

  • Expand travel-reward credit cards for Premier and Private Wealth clients
  • Scale the AI-driven virtual assistant and digital banking experience
  • Grow checking-account openings and branch productivity
  • Expand wealth advisory through the Premier platform
  • Invest in AI, digital channels and targeted advertising while maintaining expense discipline

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Earnings History

Estimate Beat Miss Match
WFC-PZ EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 actual $0.94, None Q1 '24 actual $1.28, None Q2 '24 actual $1.36, None Q2 '25 actual $1.68, None Q3 '25 actual $1.71, None Q4 '25 actual $1.64, None Q1 '26 estimate $1.58 Q1 '26 actual $1.60, beat Q2 '26 estimate $1.72 Q2 '26 actual $2.00, beat Q3 '26 estimate $1.85 Q3 '26 actual $1.87, beat Q4 '26 estimate $1.88 Q1 '27 estimate $1.76 Q2 '27 estimate $2.05 Q3 '27 estimate $2.13
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Analyst Consensus ?

ConsensusHold41 ratings
Bullish2048.8%
Neutral1843.9%
Bearish37.3%

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
BMO Capital Market Perform Market PerformMaintainOct 15, 2023
Deutsche Bank Buy BuyMaintainSep 21, 2023
Morgan Stanley Overweight OverweightMaintainJul 31, 2023
Atlantic Equities Overweight OverweightMaintainJul 31, 2023
Raymond James Strong Buy Strong BuyMaintainJul 16, 2023
Show 36 more rating actions

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Company context

Snapshot as of publication

Wells Fargo & Company functions as a comprehensive financial institution, delivering a wide array of banking, investment, mortgage, and both consumer and commercial financial offerings throughout the United States and internationally. Its extensive operations are organized into four primary divisions: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment is dedicated to serving individual clients and small businesses, providing fundamental banking services such as checking and savings accounts, credit and debit cards, along with various loan products for homes, automobiles, personal needs, and small enterprise financing. The Commercial Banking division offers customized financial solutions to private, family-owned, and certain publicly traded companies.…

Historical context

All WFC-PZ earnings
—FY2026 Q3 · Calendar Q4 2026—FY2026 Q2 · Calendar Q3 2026

Financial Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
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

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:57:43.711916+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. 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.