Wells Fargo CFO Lifts 2026 Loan Growth Outlook, Sees Healthy Consumer
WFC sits 24% above its 52-week low of $72.775 on light trading volume (0.3× avg).
Summary
CFO Mike Santomassimo told the Barclays conference that 2026 loan growth will beat the prior mid-single-digit forecast, citing healthy debt-to-income levels and no deterioration in delinquencies. He kept full-year NII at roughly $50B and expenses at $55.7B, but said Q3 net interest margin will be better than initially expected. Investment banking fees and markets revenue are both guided to rise mid-single digits in Q3. Shares rose 3% as the comments eased concerns about consumer stress from higher fuel prices and borrowing costs. This follows the July earnings call where he first signaled stronger Q4 loan growth, but today's upgrade to the full-year outlook is a new, more bullish signal.
At the time of this announcement, WFC was trading at $90.50 on NYSE in the Finance sector, with a market capitalization of approximately $273.7B. The 52-week trading range was $72.78 to $97.76. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.