Wells Fargo Analysts Lower Their Forecasts After Q3 Results

Wells Fargo & Company (NYSE:WFC) on Tuesday reported mixed third-quarter results.

Wells Fargo reported earnings of $1.87 per share, beating the Wall Street consensus estimate of $1.85. Earnings increased 13% from $1.66 per share a year earlier. Revenue rose 2% year over year to $21.870 billion, missing analysts’ expectations of $22.317 billion.

Wells Fargo reaffirmed its 2026 guidance, projecting net interest income of approximately $50 billion. The bank expects fourth-quarter net interest income of about $13 billion. It also maintained its full-year noninterest expense forecast of approximately $55.7 billion.

Wells Fargo shares fell 2.8% to trade at $78.48 on Wednesday.

These analysts made changes to their price targets on Wells Fargo following earnings announcement.

• RBC Capital analyst Gerard Cassidy maintained the stock with an Outperform rating and cut the price target from $100 to $92.
• Morgan Stanley analyst Manan Gosalia maintained the stock with an Overweight rating and lowered the price target from $102 to $101.

Considering buying WFC stock? Here’s what analysts think:

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