Wells Fargo Q3 revenue rises 2% on loan growth

Wells Fargo & Company

13/10/2026 11:41

Overview
US bank's preliminary Q3 revenue rose 2% yr/yr but missed analyst expectations
Company repurchased $2.5 bln of common stock in Q3

Outlook
Company says economic uncertainty persists and consumer sentiment remains mixed
Wells Fargo notes higher interest rates, oil prices and inflation create risks to the economy
Company sees positive factors such as AI investment, high employment and wage growth outweighing risks

Result Drivers
SEGMENT REVENUE GROWTH - Co said Wealth and Investment Management revenue grew 12% yr/yr, Commercial Banking grew 6%, Consumer Banking and Lending grew 5%, and Corporate and Investment Banking revenue increased 3%, partially offset by lower venture capital and lease income
CLIENT ACTIVITY - Co reported continued growth in consumer primary checking accounts, more than 660,000 new credit card accounts, and 15% increase in auto originations
INVESTMENT BANKING FEES - Co said investment banking and markets fees from Commercial Banking clients grew 25%, M&A revenue increased 30%, and both equity capital markets and investment grade underwriting fees rose 33%

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$21.87 bln
$22.30 bln (18 Analysts)
Q3 EPS
Beat
$1.87
$1.85 (19 Analysts)
Q3 Net Income
 
$5.95 bln
 
Q3 Net Interest Income
Slight Miss*
$12.52 bln
$12.63 bln (13 Analysts)
Q3 CET1 Capital Ratio
 
10.00%
 
Q3 Credit Loss Provision
 
$1.03 bln
 
Q3 ROE
 
13.80%
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 8 "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 & Company is $97.00, about 16.4% above its October 12 closing price of $83.32
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

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Press Release https://www.sec.gov/Archives/edgar/data/72971/000007297126000318/wfc3qer10-13x26ex991xrelea.htm
(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.)