Wells Fargo stock falls 3.92 percent as bank shares slide

Wells Fargo & Co. (ISIN US9497461015) closed at USD 83.15 on the NYSE on September 22, 2026, down 3.92 percent. The decline came as financial stocks sold off broadly, while the latest reported quarter still showed earnings of USD 1.96 per share.

Bank shares face broad selling

HDFC Sky reported on September 23, 2026, that Wells Fargo fell 3.92 percent alongside declines of 3.42 percent for JPMorgan Chase and 3.04 percent for Bank of America. The comparison places the move in a wider financial-sector rotation rather than an isolated Wells Fargo event.

A separate market report attributed the pressure to concerns about slower growth in core lending businesses after comments by Wells Fargo Chief Financial Officer Mike Santomassimo at a Barclays financial industry conference. According to Longbridge on September 23, 2026, lending growth was expected to continue but at a slower rate than in the first half of the year.

Second quarter beat estimates

Wells Fargo reported USD 1.96 in EPS for the quarter ended June 30, 2026, compared with a consensus estimate of USD 1.73. The USD 0.23 beat was paired with quarterly revenue of USD 22.62 billion against an estimate of USD 21.86 billion, according to MarketBeat on September 22, 2026.

Revenue was 8.6 percent above the year-earlier quarter, when EPS was USD 1.60. The result therefore combines a quantified year-over-year improvement with a direct earnings beat, although the stock reaction shows that near-term rate and lending-growth expectations remain important.

October earnings now matter

Zacks reported on September 22, 2026, that Wells Fargo is expected to publish its next earnings report on October 14, 2026. The consensus cited in that report calls for EPS of USD 1.84 and revenue of USD 22.22 billion for the next quarter.

The same outlook projects full-year 2026 EPS of USD 7.25 and revenue of USD 88.61 billion, representing year-over-year growth of 15.45 percent and 5.87 percent, respectively. A current analyst view also placed fair value at USD 100.46 on September 23, 2026, against the USD 83.15 share price, but that estimate is not a company price target.

Stock remains below yearly high

Wells Fargo stock closed at USD 83.15 on the NYSE on September 22, 2026. Market data cited by MarketBeat showed a 12-month range of USD 72.78 to USD 97.76, market capitalization of USD 252.14 billion and trading volume of 8,511,415 shares as of September 22, 2026.

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