| WFC |
Report |
EPS |
BEAT |
pred ~$1.75 vs. cons $1.71 |
MEDIUM |
| WFC |
Report |
Net interest income (NII) |
IN-LINE |
pred ~$12.35B vs. cons $12.36B |
MEDIUM |
| WFC |
Report |
Total revenue |
IN-LINE |
pred ~$21.85B vs. cons $21.77B |
MEDIUM |
| WFC |
Guide |
FY2026 NII guide |
UNCHANGED |
guide ~$50B vs. cons ~$50B (FY2026) |
MEDIUM |
| WFC |
Guide |
FY2026 noninterest expense guide |
UNCHANGED |
guide ~$55.7B vs. cons ~$55.7B (FY2026) |
MEDIUM |
| WFC |
Guide |
Average loan growth |
BETTER |
guide ~high-single-digit vs. cons ~mid-single-digit (FY2026) |
LOW |
| WFC |
Guide |
Medium-term ROTCE target |
UNCHANGED |
guide ~17-18% vs. cons ~15% current (medium-term) |
MEDIUM |
| WFC |
Return |
Day-1 residual (stock − beta × S&P 500) |
-1.5% |
— |
MEDIUM |
| WFC |
Return |
5-day cumulative residual |
-2.5% (FADE) |
WFC rallied ~6% in the two weeks into the print (from ~$82.6 on 6/30 to $87.69), erasing its unloved/underdog setup and raising the bar. Q1 precedent is a warning: the stock fell ~5.7% on report day (4/13 $86.64 to 4/14 $81.70) on a slight NII miss and continued NIM compression. A likely modest EPS beat driven by cost discipline/buybacks is more than priced in, while NII merely in-line and ongoing NIM compression plus a reaffirmed (not raised) ~$50B NII / ~$55.7B expense guide give the sell side little to push estimates higher — the out-period math (fewer forward NII revisions, ex-markets core spread pressure) pulls numbers flat-to-down. Sell-the-news fade into the rest of big-bank earnings week. |
MEDIUM |