Wells Fargo Earns Stock Upgrade Ahead of Third Quarter Financial Report

2026-10-05 companies

San Francisco, Tuesday, 6 October 2026.
Ahead of its October 13 earnings release, Morgan Stanley upgraded Wells Fargo, citing potential long-term growth and share buybacks that could significantly outpace market expectations.

Earnings Announcement and Analyst Upgrade

Wells Fargo & Company (NYSE: WFC) has confirmed it will report its third quarter 2026 earnings results on Tuesday, October 13, 2026, at approximately 7:00 a.m. Eastern time [1][4]. This upcoming financial update arrives alongside a notable stock upgrade from Morgan Stanley, which shifted its rating from Equal-Weight to Overweight with a price forecast of $102 [3]. The analyst upgrade cites potential long-term growth and share buybacks that could significantly outpace market expectations [3]. Investors can access the results online via the company’s Investor Relations webpage or the Securities and Exchange Commission website upon release [1][6].

Earnings Expectations and Financial Projections

Market analysts expect the San Francisco-based bank to report quarterly earnings of $1.85 per share, representing a significant increase from the $1.66 per share reported a year ago [3]. This projected growth equates to a year-over-year increase of 11.446 percent in earnings per share [3]. The consensus estimate for Wells Fargo’s quarterly revenue is $22.34 billion, compared to $21.44 billion reported in the same period last year [3]. Revenue growth is anticipated to be 4.198 percent year-over-year [3]. These figures suggest a positive trajectory heading into the third-quarter earnings season for major U.S. banking institutions [1].

Market Performance and Strategic Outlook

Despite the positive analyst outlook, Wells Fargo has underperformed sharply in 2026, even as 2026 EPS estimates have moved more than 5% higher over the past 90 days [5]. Management now expects net interest margin (NIM) to be roughly flat to down 1 basis point sequentially, marking a clear improvement from earlier guidance [5]. Morgan Stanley analyst Manan Gosalia expects normalized balance-sheet growth to reduce funding pressure and stabilize net interest margin [3]. Furthermore, Basel Endgame benefits could support buybacks about 30% above consensus in 2027 and 2028, potentially adding 21 cents to earnings per share [3].

Conference Call and Investor Access

The company will host a live conference call on Tuesday, October 13, at 10:00 a.m. Eastern time to discuss the results [1][6]. Investors may listen to the call by dialing 1-888-673-9782 for U.S. and Canada or 312-470-7126 for International/U.S. Toll using passcode 8320644# [4]. A replay of the conference call will be available from approximately 1:00 p.m. Eastern time on October 13 through Tuesday, October 27 [4]. A webcast replay will also be available online on the Investor Relations webpage for those unable to attend the live session [6].

Sources

Earnings Report Wells Fargo