Wells Fargo misses Q1 revenue, net interest income estimates; EPS beats

Wells Fargo & Co

14/04/2026 11:42

Overview

US bank's preliminary Q1 revenue and net interest income rose 6% and 5% yr/yr respectively, but missed analyst expectations

Preliminary Q1 EPS beat analyst expectations

Company repurchased $4 bln of common stock in Q1

Outlook

Company says underlying economy remains resilient, with strong consumer and business financial health

Company expects impact of higher oil prices to take time to materialize

Wells Fargo says it will continue to monitor trends and is positioned for a range of scenarios

Result Drivers

BROAD-BASED SEGMENT GROWTH - Co said all operating segments grew revenue yr/yr, with notable increases in Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management

HIGHER NONINTEREST INCOME - Co cited higher card fees and purchase volume, increased auto originations, and new consumer checking account openings as drivers of noninterest income growth

STRONG CUSTOMER ENGAGEMENT - Co said strong customer engagement contributed to higher loan and deposit balances in Commercial Banking and momentum in Wealth and Investment Management

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$21.45 bln
$21.80 bln (16 Analysts)
Q1 EPS
Beat
$1.60
$1.58 (18 Analysts)
Q1 Net Income
$5.25 bln
Q1 Net Interest Income
Miss
$12.10 bln
$12.30 bln (10 Analysts)
Q1 CET1 Capital Ratio
10.30%
Q1 Credit Loss Provision
$1.14 bln
Q1 ROE
12.20%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Wells Fargo & Co is $100.00, about 15.4% above its April 13 closing price of $86.64

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)