Wells Fargo CFO Forecasts 'Step Up' in Q2 Net Interest Income Amid Rate Concerns
Summary
Wells Fargo's CFO, Mike Santomassimo, announced expectations for a "step up" in net interest income (NII) for the second quarter, reiterating confidence in the bank's full-year NII forecast of approximately $50 billion. This positive guidance follows strong Q1 2026 earnings where NII increased 5% to $12.1 billion. The update is significant as NII is a core revenue driver for banks, and this forecast helps address investor concerns about NII growth in the current interest rate environment.
At the time of this announcement, WFC was trading at $82.38 on NYSE in the Finance sector, with a market capitalization of approximately $252.1B. The 52-week trading range was $71.93 to $97.76. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.