Sep 2026 (Q3 FY26) — Oct 13, 2026
Wells Fargo Q3 FY26 — Strong Growth Across Businesses and Improving Returns
Read the full callWells Fargo (WFC) earnings
- Jun 2026
- Sep 2026 (Q3 FY26)
- Dec 2025
Wells Fargo earnings: last reported Tue, 13 Oct 2026, for the quarter ended Sep 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 6,407 | +16.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
16 of 18 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Average loan growth (Q4 to Q4) | mid-single digits | Dec 2025 | average loans in the second quarter grew 12% from a year ago. So year-over-year average loan growth in the fourth quarter will likely be higher in the mid-single-digit increase we assumed in our outlook back in January | Revised Up |
| Average deposit growth (Q4 to Q4) | mid-single digits, with stronger growth in interest-bearing deposits | Dec 2025 | We had originally assumed some growth in noninterest-bearing deposits, but we now expect them to be relatively stable, which is a negative versus our original expectations | On Track |
| Federal Reserve asset cap lifted (2018 consent order) | Complete the risk and control work required to have the asset cap lifted | Sep 2024 | Last month, we closed our final outstanding consent order, bringing the total to 14 terminated since 2019 | Achieved |
2 of WELLS FARGO & COMPANY/MN's 36 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 33 more targets are in the full ledger.
Claimed
- Earnings per share grew to $1.87, up 30% year-over-year.
- Return on Tangible Common Equity (ROTCE) increased to 16.3% in Q3 FY26, up from 14.7% in the first 9 months of FY25.
- Average loans and deposits both grew 11% year-over-year.
- Wealth and Investment Management revenues grew 12%, Commercial Banking grew 6%, and Consumer Banking and Lending grew 5%.
- Non-revenue-related expenses declined 4% year-over-year, contributing to an improved efficiency ratio of 63%.
Qualified
- Noninterest income declined 1% year-over-year, primarily due to lower trading gains and equity securities gains.
- Markets revenue was down modestly year-over-year, impacted by a slowdown in the last several weeks of the quarter due to sharp interest rate movements.
- Commercial net loan charge-offs increased 8 basis points from Q2 FY26 to 18 basis points.
Price
$81.8 −2.47% · −$2.07
Performance −1.8% 1Y
1Y: $83.28 on 17 Oct 2025 → $81.8. High $96.39 (6 Jan 2026), low $73.42 (15 May 2026).
- Previous close
- $83.87
- 52-week range
- $73.42 – $96.39
- One year
- −4.91%
Overview
- Symbol
- WFC
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
16 of 18 judged targets kept · 18 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Average loan growth (Q4 to Q4) | mid-single digits | Dec 2025 | average loans in the second quarter grew 12% from a year ago. So year-over-year average loan growth in the fourth quarter will likely be higher in the mid-single-digit increase we assumed in our outlook back in January | Revised Up |
| Average deposit growth (Q4 to Q4) | mid-single digits, with stronger growth in interest-bearing deposits | Dec 2025 | We had originally assumed some growth in noninterest-bearing deposits, but we now expect them to be relatively stable, which is a negative versus our original expectations | On Track |
| Federal Reserve asset cap lifted (2018 consent order) | Complete the risk and control work required to have the asset cap lifted | Sep 2024 | Last month, we closed our final outstanding consent order, bringing the total to 14 terminated since 2019 | Achieved |
Claimed
- Earnings per share grew to $1.87, up 30% year-over-year.
- Return on Tangible Common Equity (ROTCE) increased to 16.3% in Q3 FY26, up from 14.7% in the first 9 months of FY25.
- Average loans and deposits both grew 11% year-over-year.
- Wealth and Investment Management revenues grew 12%, Commercial Banking grew 6%, and Consumer Banking and Lending grew 5%.
- Non-revenue-related expenses declined 4% year-over-year, contributing to an improved efficiency ratio of 63%.
Qualified
- Noninterest income declined 1% year-over-year, primarily due to lower trading gains and equity securities gains.
- Markets revenue was down modestly year-over-year, impacted by a slowdown in the last several weeks of the quarter due to sharp interest rate movements.
- Commercial net loan charge-offs increased 8 basis points from Q2 FY26 to 18 basis points.
The full ledger
Open WELLS FARGO & COMPANY/MN’s full ledger
A free account opens 5 company ledgers a month. All 36 tracked commitments, with each call’s wording and source.
Call summaries
Jun 2026 (Q2 FY26) — Jul 14, 2026
Wells Fargo Q2 FY26 — Broad-Based Growth and Improved Returns
Read the full callMar 2026 (Q1 FY26) — Apr 14, 2026
Wells Fargo Q1 FY26 — Broad-based growth as final consent order closes and loans top $1 trillion
Read the full callNews
Latest news
From the news desk, item by item, hours after each call.
Every analysed call
Wells Fargo earnings calls (WFC)
Financials
What the filings say
Net profit, year on year: +17% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Profit before tax | 6,234 | 5,383 | 5,326 | 6,438 | 6,909 | 6,526 | 5,981 | 8,047 |
| Tax rate | 17.1% | 2.2% | 9.8% | 14.2% | 18.8% | 16.9% | 11.6% | 17.4% |
| Net profit | 5,114 | 5,079 | 4,894 | 5,494 | 5,589 | 5,361 | 5,253 | 6,407 |
| EPS ($ per share) | 1.43 | — | 1.41 | 1.61 | 1.68 | — | 1.62 | 2.02 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 9,136 | 9,136 | 9,136 | 9,136 | 9,136 | 9,136 | 9,136 | 9,136 |
| Reserves | 158,163 | 166,697 | 161,945 | 180,322 | 187,968 | 201,136 | 214,198 | 228,873 |
| Total liabilities | 1,698,817 | 1,739,571 | 1,767,199 | 1,757,958 | 1,698,807 | 1,745,025 | 1,748,779 | 1,965,593 |
| Fixed assets | 8,920 | 9,309 | 8,895 | 8,571 | 8,350 | 9,266 | 10,297 | 11,395 |
| Total assets | 1,895,883 | 1,927,555 | 1,952,911 | 1,948,068 | 1,881,020 | 1,932,468 | 1,929,845 | 2,148,631 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 36,073 | 6,730 | 2,051 | -11,525 | 27,048 | 40,358 | 3,035 | -19,001 |
| Cash from investing | -7,754 | -29,631 | 122,554 | -7,619 | -42,476 | 16,043 | -15,651 | -187,895 |
| Cash from financing | -70,979 | -9,136 | -1,243 | -11,238 | -59,645 | 20,494 | -21,534 | 177,587 |
| Net cash flow | -42,660 | -32,037 | 123,362 | -30,382 | -75,073 | 76,895 | -34,150 | -29,309 |
WFC operating KPIs by quarter
| KPI | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Sep 2026 Q3 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Common equity tier 1 ratio (CET1) | 11.1%We maintained our strong capital position with our CET1 ratio at 11.1%, well above our current CET1 regulatory minimum plus buffers of 9.7%.Source: earnings call transcript | 11%We maintained our strong capital position with our CET1 ratio at 11%, well above our new CET1 regulatory minimum plus buffers of 8.5%, which became effective in the fourth quarter.Source: earnings call transcript | 10.6%Our capital levels remained strong with our CET1 ratio at 10.6%, down from the third quarter but well above our CET1 regulatory minimum plus buffers of 8.5%.Source: earnings call transcript | 10.3%Our capital levels remained strong with our CET1 ratio of 10.3%, within our stated 10% to 10.5% target range and well above our CET1 regulatory minimum plus buffers of 8.5%.Source: earnings call transcript | 10.3%Our capital levels remained strong with our CET1 ratio at 10.3% within our stated 10% to 10.5% target range and well above our CET1 regulatory minimum plus buffers at 8.5%.Source: earnings call transcript | 10%Our capital levels remained strong with our CET1 ratio at 10%, well above our CET1 regulatory minimum plus buffers of 8.5%.Source: earnings call transcript | -0.3 pt |
| Employees | 212K+I know this call is for investors, but I want to once again thank the over 212,000 employees at Wells Fargo who all contributed in one way or another to this milestone.Source: earnings call transcript | ~211KOur head count has declined from a peak of approximately 276,000 in second quarter 2020 to approximately 211,000 in the third quarter 2025, down 24%, with head count reductions every quarter for 5 years.Source: earnings call transcript | — | — | 197KAnd in the second quarter, our headcount was 197,000, down 79,000 from 6 years ago, 15,000 from last year and 3,500 from last quarter.Source: earnings call transcript | — | — |
| Return on tangible common equity (ROTCE) | 15%And the only thing I'll just make sure we're clear on is, yes, we had 15% ROTCE in the quarter, but we also recognize that we had the gain in our Merchant Services business.Source: earnings call transcript | 15.2%These efforts helped improve our return on tangible common equity to 15.2% in the third quarter.Source: earnings call transcript | — | — | 17.7%Our continued focus on improving returns was evident with ROTCE increasing from 15.2% a year ago to 17.7% in the second quarter and 16.1% in the first half of 2026.Source: earnings call transcript | 16.3%Our ROTCE increased from 14.7% during the first 9 months of 2025 to 16.2% during the same period this year and 16.3% this quarter.Source: earnings call transcript | -1.4 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
152 filings between Dec 5, 2025 and Jul 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$10.05M
3 sales by 3 insiders
Compensation
not trading decisions- 70
- Option exercise — converted options into shares
- 70
- Tax withheld — shares kept back by the company to cover tax
Also filed: 8 gifts, 1 other.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Patterson Ellen R | — | $5.24M | Feb 26, 2026 |
| Engle Bridget E. | — | $2.61M | Feb 26, 2026 |
| Santos Kleber | — | $2.19M | Feb 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Jul 15, 2026 | Flowers Derek A. Sr. EVP and Chief Risk Officer | Gift | 67,966 | $0 |
| Jul 15, 2026 | Flowers Derek A. Sr. EVP and Chief Risk Officer | Gift | 67,966 | $0 |
| Jun 15, 2026 | Rosenberg Jason M. SEVP & Head of Public Affairs | Tax withheld | 8,079 | $676.5K |
| Jun 15, 2026 | Rosenberg Jason M. SEVP & Head of Public Affairs | Option exercise | 17,218 | $0 |
| May 14, 2026 | CRAVER THEODORE F JR Director | Gift | 89 | $0 |
| May 14, 2026 | CRAVER THEODORE F JR Director | Gift | 89 | $0 |
| Mar 16, 2026 | Rivas Fernando Sr. Executive Vice President | Other | 39 | $39.0K |
| Mar 5, 2026 | Fercho Kristy Sr. Executive Vice President | Option exercise | 25,824 | $0 |
| Mar 5, 2026 | Powell Scott SEVP & Chief Operating Officer | Tax withheld | 50,375 | $4.23M |
| Mar 5, 2026 | Ling Bei Sr. Executive Vice President | Option exercise | 47,480 | $0 |
| Mar 5, 2026 | Hranicky Kyle G Sr. Executive Vice President | Tax withheld | 25,042 | $2.10M |
| Mar 5, 2026 | Sommers Barry Sr. Executive Vice President | Option exercise | 101,035 | $0 |
| Mar 5, 2026 | Van Beurden Saul Sr. Executive Vice President | Option exercise | 88,176 | $0 |
| Mar 5, 2026 | Hranicky Kyle G Sr. Executive Vice President | Option exercise | 58,141 | $0 |
| Mar 5, 2026 | SCHARF CHARLES W Chairman and CEO | Option exercise | 379,767 | $0 |
| Mar 5, 2026 | Flowers Derek A. Sr. EVP and Chief Risk Officer | Option exercise | 66,453 | $0 |
| Mar 5, 2026 | Santomassimo Michael P. Sr. EVP & CFO | Tax withheld | 64,036 | $5.37M |
| Mar 5, 2026 | Powell Scott SEVP & Chief Operating Officer | Option exercise | 98,678 | $0 |
| Mar 5, 2026 | Santos Kleber Sr. Executive Vice President | Option exercise | 60,915 | $0 |
| Mar 5, 2026 | Santos Kleber Sr. Executive Vice President | Tax withheld | 29,930 | $2.51M |
| Mar 5, 2026 | Flowers Derek A. Sr. EVP and Chief Risk Officer | Tax withheld | 29,131 | $2.44M |
| Mar 5, 2026 | Santomassimo Michael P. Sr. EVP & CFO | Option exercise | 125,481 | $0 |
| Mar 5, 2026 | SCHARF CHARLES W Chairman and CEO | Tax withheld | 210,011 | $17.63M |
| Mar 5, 2026 | Patterson Ellen R Sr. EVP and General Counsel | Tax withheld | 49,639 | $4.17M |
| Mar 5, 2026 | Patterson Ellen R Sr. EVP and General Counsel | Option exercise | 97,259 | $0 |
| Mar 5, 2026 | Sommers Barry Sr. Executive Vice President | Tax withheld | 50,699 | $4.26M |
| Mar 5, 2026 | Fercho Kristy Sr. Executive Vice President | Tax withheld | 11,477 | $963.3K |
| Mar 5, 2026 | Van Beurden Saul Sr. Executive Vice President | Tax withheld | 45,014 | $3.78M |
| Mar 5, 2026 | Ling Bei Sr. Executive Vice President | Tax withheld | 24,228 | $2.03M |
| Feb 26, 2026 | Patterson Ellen R Sr. EVP and General Counsel | Sale | 60,000 | $5.24M |
| Feb 26, 2026 | Engle Bridget E. Sr. Executive Vice President | Sale | 30,000 | $2.61M |
| Feb 20, 2026 | Santos Kleber Sr. Executive Vice President | Sale | 25,000 | $2.19M |
| Feb 19, 2026 | Van Beurden Saul Sr. Executive Vice President | Gift | 400 | $0 |
| Feb 19, 2026 | Van Beurden Saul Sr. Executive Vice President | Gift | 400 | $0 |
| Feb 19, 2026 | Van Beurden Saul Sr. Executive Vice President | Gift | 1,200 | $0 |
| Feb 19, 2026 | Van Beurden Saul Sr. Executive Vice President | Gift | 400 | $0 |
| Feb 5, 2026 | Engle Bridget E. Sr. Executive Vice President | Tax withheld | 5,820 | $542.1K |
| Feb 5, 2026 | Engle Bridget E. Sr. Executive Vice President | Option exercise | 11,407 | $0 |
| Feb 5, 2026 | Engle Bridget E. Sr. Executive Vice President | Tax withheld | 1,010 | $94.1K |
| Feb 5, 2026 | Engle Bridget E. Sr. Executive Vice President | Tax withheld | 50,273 | $4.68M |
| Feb 5, 2026 | Engle Bridget E. Sr. Executive Vice President | Option exercise | 100,852 | $0 |
| Feb 5, 2026 | Carr Muneera S EVP, CAO & Controller | Tax withheld | 2,236 | $208.3K |
| Feb 5, 2026 | Carr Muneera S EVP, CAO & Controller | Option exercise | 6,030 | $0 |
| Feb 5, 2026 | Carr Muneera S EVP, CAO & Controller | Tax withheld | 1,846 | $172.0K |
| Feb 5, 2026 | Carr Muneera S EVP, CAO & Controller | Option exercise | 8,376 | $0 |
| Feb 5, 2026 | Engle Bridget E. Sr. Executive Vice President | Option exercise | 2,787 | $0 |
| Feb 5, 2026 | Carr Muneera S EVP, CAO & Controller | Tax withheld | 3,020 | $281.3K |
| Feb 5, 2026 | Carr Muneera S EVP, CAO & Controller | Option exercise | 9,098 | $0 |
| Feb 5, 2026 | Fercho Kristy Sr. Executive Vice President | Option exercise | 5,912 | $0 |
| Feb 5, 2026 | Fercho Kristy Sr. Executive Vice President | Tax withheld | 2,108 | $196.4K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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