Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Wells Fargo (WFC)
NYSEFinancialsBanks - DiversifiedSnapshot 2026-11-04
$87.43+2.22%
Close 2026-11-04 · 1-day change
NYSEFinancialsBanks - DiversifiedSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
8.00 → 8.05 EPS · FY ending Dec 31, 2027 · 17 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 17 to 17; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for WFC yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
Three published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Increase common stock dividend by about 11% | A supporting condition in Wells Fargo's published investment case. The stated target is dividend increase of ~11%. | Intact | no dividend increase or dividend cut in FY26 | Dividend per share: $0.50 per share FY2026-Q3; GAAP. Published target: dividend increase of ~11%. Annual target cannot be compared with a quarterly or TTM observation. Oct 28, 20260.5 USD/share · source valueLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Next earnings date unavailable
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
WFC is a large financial business with a measured recovery and execution thesis, rather than a high-growth story. The long-term thesis is intact, with recent momentum improving, but earnings quality is still rated fragile.
Valuation is neutral, and WFC trades at a modest premium versus peers. Expectations are broadly aligned with the evidence, with a small negative expectations gap, so the current setup does not show a clear mismatch between market assumptions and the business outlook.
In the latest quarter, revenue rose across all four reported business segments, while noninterest expense edged down year over year and headcount fell 8%. Management has delivered on broad-based growth and capital returns, but expense-discipline progress remains mixed; near-term miss risk is considered low, though peer misses and a deep miss in WFC’s recent history warrant attention.
The multi-year view depends on continued growth across the businesses and further progress on efficiency without weakening execution. Near term, a guidance cut or Fed rate cuts would be unfavorable, while continued earnings strength and higher guidance from sector peers could support the sector backdrop.
The 1 to 3 year thesis remains intact, supported by recent broad-based growth and capital-return actions, but fragile earnings quality and sensitivity to rates leave meaningful execution risks. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| Wells Fargo aims to keep net interest income near $50 billion in 2026. |
| Intact |
| net interest income falls below $48 billion in FY26 |
Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Control noninterest expenses near $55.7 billion | It plans to control noninterest expenses around $55.7 billion. | Intact | noninterest expenses exceed $57 billion in FY26 | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$7.95 → $8.05 · observed estimates
$92.91B → $93.06B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $7.95 | $92,906,444,080 | 21 / 11 |
| 2026-07-25 | $7.95 | $92,925,534,990 | 21 / 11 |
| 2026-07-26 | $7.95 | $92,925,534,990 | 21 / 11 |
| 2026-07-27 | $7.97 | $92,785,182,700 | 17 / 9 |
| 2026-07-28 | $7.97 | $92,785,182,700 | 17 / 9 |
| 2026-07-29 | $7.97 | $92,785,182,700 | 17 / 9 |
| 2026-07-30 | $7.95 | $92,925,534,990 | 21 / 11 |
| 2026-07-31 | $7.95 | $92,897,045,720 | 21 / 11 |
| 2026-08-01 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-02 | $7.95 | $92,897,045,720 | 21 / 11 |
| 2026-08-03 | $7.95 | $92,897,045,720 | 21 / 11 |
| 2026-08-04 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-05 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-06 | $7.96 | $92,941,936,630 | 20 / 11 |
| 2026-08-08 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-09 | $7.96 | $92,941,936,630 | 20 / 11 |
| 2026-08-10 | $7.96 | $92,941,936,630 | 20 / 11 |
| 2026-08-12 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-13 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-14 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-15 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-16 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-17 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-18 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-19 | $7.97 | $92,770,252,160 | 17 / 9 |
| 2026-08-20 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-21 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-22 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-23 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-24 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-25 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-26 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-27 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-28 | $7.98 | $92,823,485,415 | 17 / 9 |
| 2026-08-29 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-08-30 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-08-31 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-01 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-02 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-03 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-04 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-05 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-06 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-07 | $7.98 | $92,825,191,373 | 17 / 9 |
| 2026-09-08 | $7.98 | $92,824,554,524 | 17 / 9 |
| 2026-09-09 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-10 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-11 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-12 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-13 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-14 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-15 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-16 | $7.97 | $92,758,193,300 | 17 / 9 |
| 2026-09-17 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-18 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-19 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-20 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-21 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-22 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-23 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-24 | $7.97 | $92,756,850,205 | 17 / 9 |
| 2026-09-25 | $7.99 | $92,835,304,110 | 17 / 9 |
| 2026-09-26 | $7.99 | $92,835,285,310 | 17 / 9 |
| 2026-09-27 | $7.99 | $92,823,407,979 | 17 / 9 |
| 2026-09-28 | $7.99 | $92,823,407,979 | 17 / 9 |
| 2026-09-29 | $7.99 | $92,848,644,567 | 17 / 9 |
| 2026-09-30 | $7.99 | $92,848,644,567 | 17 / 9 |
| 2026-10-01 | $7.99 | $92,882,744,689 | 17 / 10 |
| 2026-10-02 | $8.00 | $92,897,245,796 | 17 / 10 |
| 2026-10-03 | $8.00 | $92,876,819,727 | 17 / 10 |
| 2026-10-04 | $8.00 | $92,876,819,727 | 17 / 10 |
| 2026-10-05 | $8.00 | $92,912,253,781 | 17 / 10 |
| 2026-10-06 | $8.01 | $92,929,318,724 | 17 / 10 |
| 2026-10-07 | $8.02 | $92,992,510,196 | 17 / 10 |
| 2026-10-08 | $8.04 | $93,012,277,914 | 18 / 11 |
| 2026-10-09 | $8.04 | $93,012,277,914 | 17 / 11 |
| 2026-10-10 | $8.04 | $93,012,277,914 | 17 / 11 |
| 2026-10-11 | $8.04 | $93,012,277,914 | 17 / 9 |
| 2026-10-12 | $8.04 | $93,012,277,914 | 17 / 9 |
| 2026-10-13 | $8.04 | $93,012,277,914 | 17 / 9 |
| 2026-10-14 | $8.03 | $93,119,604,815 | 17 / 9 |
| 2026-10-15 | $8.05 | $93,235,715,486 | 17 / 10 |
| 2026-10-16 | $8.04 | $93,058,647,322 | 17 / 10 |
| 2026-10-17 | $8.04 | $93,058,647,322 | 17 / 10 |
| 2026-10-18 | $8.05 | $93,058,647,322 | 17 / 10 |
| 2026-10-19 | $8.05 | $93,058,647,322 | 17 / 10 |
| 2026-10-20 | $8.05 | $93,068,647,322 | 17 / 10 |
| 2026-10-21 | $8.05 | $93,068,647,322 | 17 / 10 |
| 2026-10-22 | $8.05 | $93,068,647,322 | 17 / 10 |
| 2026-10-23 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-24 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-25 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-26 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-27 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-28 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-29 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-30 | $8.05 | $93,085,011,605 | 17 / 10 |
| 2026-10-31 | $8.05 | $93,049,592,067 | 17 / 10 |
| 2026-11-01 | $8.05 | $93,049,592,067 | 17 / 10 |
| 2026-11-02 | $8.05 | $93,049,592,067 | 17 / 10 |
| 2026-11-03 | $8.05 | $93,063,385,234 | 17 / 10 |
| 2026-11-04 | $8.05 | $93,063,385,234 | 17 / 10 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 19 Buy / Strong Buy · 9 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 5 recorded
1 raises · 2 cuts · 0 unchanged · 1 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.