Analyst Consensus ?
ConsensusHold60 ratings
Bullish2846.7%
Neutral2846.7%
Bearish46.6%
Wells Fargo & Company · WFC · FY2025 Q4 · Calendar Q1 2026
Wells Fargo: Growth Opens Up, but 2026 Trade-offs Rise
The quarter provides qualified support for the view that resilient demand and earnings growth can support Wells Fargo’s trajectory: management highlighted strong 2025 results, continued loan and deposit growth, fee expansion and efficiency gains. The counterweight is that 2026 growth depends on capital allocation, interest-rate conditions, credit quality and regulatory outcomes.
Reported Before market openNYSEFinancial Services
$250.90B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.62
Consensus $1.66
EPS surprise
-2.4%
Reported versus consensus
Reported revenue
$21.29B
Consensus $21.65B
Revenue surprise
-1.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-4.6%
Event window
SPY move
-0.5%
Same window
Abnormal move
-4.1%
Stock minus SPY
Volume
2.7×
Versus trailing sessions
Subsequent drift
-3.3%
Up to 20 sessions
WFCSPY benchmark
Ask FN2 about WFC FY2025 Q4
Transcript, numbers and history already loaded
Why did WFC fall 4.6% after missing EPS estimates in FY2025 Q4?What changed in WFC's guidance and outlook in FY2025 Q4?Give me the bull and bear case for WFC after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The asset-cap removal now enables broader balance-sheet expansion, while management’s 2026 priorities emphasize organic growth, markets activity, technology and efficiency. Compared with the prior analysis, the capital trade-off is clearer: share repurchases are expected to be lower as capital supports growth, alongside continued scrutiny of net interest income, CET1 targets and commercial real estate.
Guidance delta
Management’s 2026 outlook is described as maintained, with mid-single-digit loan and deposit growth targeted and markets-related net interest income expected to increase. Share repurchases are expected to be lower as capital is redirected toward organic growth and balance-sheet expansion.
Key takeaways
- Management described 2025 as strong, with net income of $21.3 billion and diluted EPS up 17%.
- Loan and deposit balances grew at double-digit percentages, while credit-card accounts increased by nearly 3 million during 2025.
- The asset-cap removal supports further balance-sheet expansion, but lower 2026 repurchases reflect competing capital priorities.
- The outlook combines continued growth investments with a 17–18% ROTCE target and ongoing efficiency efforts.
Management priorities
- Pursue mid-single-digit loan and deposit growth through 2026.
- Expand markets-related net interest income while managing margin pressure.
- Continue branch refurbishments and digital account-opening initiatives.
- Invest in technology, AI and automation to improve expense efficiency.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$80.81Current
$47Low
$78.05Average
$125.5High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 28, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Neutral | Neutral | Maintain | Jul 29, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 15, 2026 |
| Baird | Neutral | Neutral | Maintain | Jul 15, 2026 |
| UBS | Buy | Buy | Maintain | Jul 7, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 7, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 29, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jun 26, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Apr 15, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 15, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 6, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Mar 23, 2026 |
| Freedom Broker | Buy | Hold | Upgrade | Jan 22, 2026 |
| TD Cowen | Hold | Hold | Maintain | Jan 15, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Jan 15, 2026 |
| Argus Research | Buy | Buy | Maintain | Jan 15, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Sep 23, 2025 |
| Raymond James | Market Perform | Strong Buy | Downgrade | Jul 7, 2025 |
| Compass Point | Neutral | Neutral | Maintain | Dec 10, 2024 |
| Phillip Securities | Accumulate | Neutral | Upgrade | Oct 15, 2024 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Oct 8, 2024 |
| Deutsche Bank | Buy | Hold | Upgrade | Sep 3, 2024 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 15, 2024 |
| Jefferies | Hold | Hold | Maintain | Jul 3, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Apr 15, 2024 |
| HSBC | Hold | Hold | Maintain | Mar 28, 2024 |
| Odeon Capital | Hold | Buy | Downgrade | Jan 18, 2024 |
| Atlantic Equities | Overweight | Overweight | Maintain | Aug 1, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Jul 18, 2022 |
| Seaport Global | Buy | Neutral | Upgrade | Jan 19, 2021 |
| DA Davidson | Neutral | Neutral | Maintain | May 29, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 7, 2020 |
| CFRA | Hold | Sell | Upgrade | Mar 4, 2020 |
| Buckingham Research | Neutral | Neutral | Maintain | Jul 17, 2019 |
| Buckingham | Neutral | Buy | Downgrade | Apr 15, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Apr 15, 2019 |
| Keefe Bruyette & Woods | Market Perform | Outperform | Downgrade | Apr 1, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Oct 15, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Sandler O'Neill | Buy | Hold | Upgrade | Jan 9, 2018 |
| Bernstein | Outperform | Market Perform | Upgrade | Jan 3, 2018 |
| Berenberg | Sell | Hold | Downgrade | Jul 21, 2017 |
| Guggenheim | Neutral | Sell | Upgrade | Apr 25, 2017 |
| Rafferty Capital | Sell | Hold | Downgrade | Apr 12, 2017 |
| Rafferty | Sell | Hold | Downgrade | Apr 12, 2017 |
| PiperJaffray | Neutral | Underweight | Upgrade | Apr 10, 2017 |
| Susquehanna | Neutral | Positive | Downgrade | Dec 1, 2016 |
| FBR Capital | Market Perform | Outperform | Downgrade | Oct 19, 2016 |
| Keefe, Bruyette& Woods | Perform | Outperform | Downgrade | Oct 16, 2016 |
| Societe Generale | Sell | Hold | Downgrade | Mar 9, 2015 |
| Miller Tabak | Buy | Hold | Upgrade | Mar 9, 2015 |
| Argus Capital | Buy | Sell | Upgrade | Oct 16, 2014 |
| S&P Capital IQ | Hold | Buy | Downgrade | Jan 14, 2014 |
| ISI Group | Buy | Buy | Maintain | Oct 7, 2013 |
| Sterne Agee | Neutral | Buy | Downgrade | Jun 14, 2013 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Feb 11, 2013 |
| Stifel | Buy | Hold | Upgrade | Feb 11, 2013 |
| Evercore Partners | Equal Weight | Overweight | Downgrade | Dec 19, 2012 |
| SunTrust Robinson Humphrey | Neutral | Neutral | Maintain | Dec 7, 2012 |
| Drexel Hamilton | Buy | Buy | Maintain | Oct 2, 2012 |
| Bank oferica | Buy | Buy | Maintain | Apr 16, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $80.81. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Robert W. Baird | Analyst unavailable | $92 | $85.29 | +13.8% | Jul 15, 2026 |
| UBS | Erika Najarian | $104 | $88.12 | +28.7% | Jul 7, 2026 |
| Wells Fargo | Analyst unavailable | $93 | $82.62 | +15.1% | Jul 1, 2026 |
| Morgan Stanley | Analyst unavailable | $102 | $84.02 | +26.2% | Jun 29, 2026 |
| Wells Fargo | Analyst unavailable | $98 | $79.9 | +21.3% | May 6, 2026 |
| Wells Fargo | Eric Shih | $88 | $81.74 | +8.9% | Apr 16, 2026 |
| Piper Sandler | Analyst unavailable | $94 | $81.73 | +16.3% | Apr 15, 2026 |
| Barclays | Jason Goldberg | $108 | $81.73 | +33.6% | Apr 15, 2026 |
| Truist Financial | John McDonald | $94 | $76.48 | +16.3% | Mar 17, 2026 |
| Wells Fargo | Analyst unavailable | $85 | $86.29 | +5.2% | Feb 13, 2026 |
| UBS | Analyst unavailable | $113 | $93.51 | +39.8% | Feb 4, 2026 |
| Evercore ISI | John Pancari | $105 | $89.11 | +29.9% | Jan 15, 2026 |
| Wells Fargo | Analyst unavailable | $96 | $93.48 | +18.8% | Jan 14, 2026 |
| Wolfe Research | Analyst unavailable | $109 | $94.44 | +34.9% | Jan 7, 2026 |
| HSBC | Analyst unavailable | $74 | $94.96 | -8.4% | Jan 7, 2026 |
| Evercore ISI | John Pancari | $110 | $95.66 | +36.1% | Jan 6, 2026 |
| Truist Financial | John McDonald | $104 | $96.4 | +28.7% | Jan 6, 2026 |
| Wells Fargo | Analyst unavailable | $90 | $96.4 | +11.4% | Jan 6, 2026 |
| Barclays | Analyst unavailable | $113 | $95.2 | +39.8% | Jan 5, 2026 |
| Truist Financial | Analyst unavailable | $100 | $93.27 | +23.7% | Dec 18, 2025 |
| Evercore ISI | Analyst unavailable | $107 | $93.8 | +32.4% | Dec 15, 2025 |
| Truist Financial | Analyst unavailable | $90 | $85.92 | +11.4% | Oct 15, 2025 |
| Morgan Stanley | Analyst unavailable | $97 | $84.56 | +20.0% | Oct 15, 2025 |
| Barclays | Analyst unavailable | $94 | $84.56 | +16.3% | Oct 15, 2025 |
| UBS | Analyst unavailable | $93 | $80.84 | +15.1% | Oct 7, 2025 |
| Evercore ISI | Analyst unavailable | $98 | $84.65 | +21.3% | Sep 30, 2025 |
| Wells Fargo | Betsy Graseck | $95 | $85.01 | +17.6% | Sep 29, 2025 |
| Goldman Sachs | Richard Ramsden | $86 | $82.34 | +6.4% | Jul 8, 2025 |
| Raymond James | David Long | $84 | $74.74 | +3.9% | Jun 18, 2025 |
| Needham | Mike Cikos | $125.5 | $73.73 | +55.3% | May 28, 2025 |
| Wells Fargo | Steven Alexopoulos | $83 | $76.28 | +2.7% | May 14, 2025 |
| Barclays | Jason Goldberg | $87 | $63.1 | +7.7% | Apr 14, 2025 |
| Morgan Stanley | Analyst unavailable | $79 | $74.28 | -2.2% | Mar 24, 2025 |
| Wells Fargo | Analyst unavailable | $65.63 | $66.78 | -18.8% | Mar 10, 2025 |
| Wolfe Research | Steven Chubak | $87 | $70.61 | +7.7% | Jan 3, 2025 |
| CFRA | Alexander Yokum | $92 | $52.76 | +13.8% | Nov 19, 2024 |
| Compass Point | David Rochester | $60 | $63.42 | -25.8% | Oct 15, 2024 |
| Wells Fargo | Gerard Cassidy | $61 | $62.16 | -24.5% | Oct 14, 2024 |
| Citigroup | Keith Horowitz | $67 | $63.02 | -17.1% | Oct 14, 2024 |
| Robert W. Baird | David George | $62 | $60.99 | -23.3% | Oct 14, 2024 |
| Piper Sandler | Scott Siefers | $62 | $60.99 | -23.3% | Oct 14, 2024 |
| Barclays | Jason Goldberg | $75 | $60.99 | -7.2% | Oct 14, 2024 |
| Evercore ISI | John Pancari | $71 | $60.99 | -12.1% | Oct 14, 2024 |
| Deutsche Bank | Matt O' Connor | $65 | $57.75 | -19.6% | Oct 11, 2024 |
| Bank of America Securities | Ebrahim Poonawala | $70 | $55.9 | -13.4% | Sep 27, 2024 |
| Wells Fargo | Matt O'Connor | $65 | $58.47 | -19.6% | Sep 3, 2024 |
| Daiwa | Kazuya Nishimura | $63 | $56.45 | -22.0% | Aug 20, 2024 |
| RBC Capital | Gerard Cassidy | $61 | $58.08 | -24.5% | Jul 15, 2024 |
| Goldman Sachs | Richard Ramsden | $64 | $56.54 | -20.8% | Jul 12, 2024 |
| Compass Point | David Rochester | $64 | $60.28 | -20.8% | Jul 11, 2024 |
| Piper Sandler | Scott Siefers | $61 | $61.04 | -24.5% | May 21, 2024 |
| Wells Fargo | Kenneth Leon | $70 | $56.47 | -13.4% | Apr 12, 2024 |
| Evercore ISI | John Pancari | $67 | $55.7 | -17.1% | Apr 12, 2024 |
| Goldman Sachs | Richard Ramsden | $65 | $55.64 | -19.6% | Apr 12, 2024 |
| Wells Fargo | David Rochester | $64 | $57.79 | -20.8% | Apr 8, 2024 |
| CFRA | Kenneth Leon | $59 | $57.61 | -27.0% | Apr 1, 2024 |
| Wells Fargo | David Konrad | $62 | $56.68 | -23.3% | Mar 27, 2024 |
| Robert W. Baird | David George | $55 | $48.74 | -31.9% | Jan 11, 2024 |
| Wells Fargo | Richard Bove | $56.08 | $47.76 | -30.6% | Dec 14, 2023 |
| Loop Capital Markets | James Fotheringham | $51 | $44.7 | -36.9% | Jul 17, 2023 |
| Wells Fargo | Richard Bove | $44.6 | $40.98 | -44.8% | Apr 17, 2023 |
| Wells Fargo | Gerard Cassidy | $42 | $40.88 | -48.0% | Apr 17, 2023 |
| Piper Sandler | Scott Siefers | $47 | $39.66 | -41.8% | Apr 14, 2023 |
| Wells Fargo | David Long | $47 | $37.92 | -41.8% | Apr 6, 2023 |
| Wells Fargo | Keith Horowitz | $50 | $46.78 | -38.1% | Nov 1, 2022 |
| Barclays | Jason Goldberg | $58 | $41.13 | -28.2% | Jul 17, 2022 |
| Morgan Stanley | Betsy Graseck | $59 | $41.13 | -27.0% | Jul 15, 2022 |
| Raymond James | David Long | $50 | $37.9 | -38.1% | Jun 24, 2022 |
| Raymond James | David Long | $60 | $47.83 | -25.8% | Apr 20, 2022 |
| Barclays | Jason Goldberg | $64 | $47.07 | -20.8% | Apr 18, 2022 |
| Morgan Stanley | Betsy Graseck | $66 | $48.71 | -18.3% | Apr 2, 2022 |
| Wells Fargo | Vivek Juneja | $58.5 | $56.33 | -27.6% | Feb 6, 2022 |
| Evercore ISI | John Pancari | $65 | $56.44 | -19.6% | Jan 18, 2022 |
| BMO Capital | James Fotheringham | $54 | $57.8 | -33.2% | Jan 17, 2022 |
| KBW | David Konrad | $67 | $57.8 | -17.1% | Jan 17, 2022 |
| Goldman Sachs | Richard Ramsden | $56 | $57.8 | -30.7% | Jan 14, 2022 |
| Wolfe Research | Steven Chubak | $65 | $52.51 | -19.6% | Jan 4, 2022 |
| Barclays | Jason Goldberg | $62 | $50.5 | -23.3% | Jan 3, 2022 |
| Credit Suisse | Susan Roth Katzke | $55 | $42.51 | -31.9% | Jul 19, 2021 |
| Compass Point | Dave Rochester | $53 | $46.27 | -34.4% | May 18, 2021 |
| Citigroup | Keith Horowitz | $50 | $41.62 | -38.1% | Apr 15, 2021 |
Track every rating change on WFC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationWells Fargo & Company, a financial services company, provides diversified 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 company’s financial products and services includes checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services.…
Historical context
All WFC earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
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Get the WFC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
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 · 2026-09-28T21:50:58.774308+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-28T21:50:58.771572+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.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
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 2026-09-28. For educational purposes only; not investment advice.