Wells Fargo Lifts 2026 Loan Growth Outlook Above Mid-Single Digits

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โดย Zacks Investment Research·

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Wells Fargo expects 2026 loan growth to exceed its previous mid-single-digit percentage forecast, chief financial officer Mike Santomassimo said at the Barclays 24th Annual Global Financial Services Conference, citing resilient consumer activity and stronger-than-expected loan growth now that the Federal Reserve's asset cap has been removed. Average loans rose roughly 12% year over year in the second quarter, driven by credit cards, auto lending and commercial loans, and Santomassimo said the U.S. consumer remains healthy with no meaningful deterioration in delinquency trends. The bank expects third-quarter investment banking fees to rise at a mid-single-digit percentage rate, with markets and trading revenues projected to increase at a similar pace, while management maintained its 2026 net interest income outlook of $50 billion and expense guidance of $55.7 billion. Santomassimo also said the third-quarter net interest margin is performing better than previously anticipated, and the bank reiterated its medium-term target of a 17-18% return on tangible common equity after surpassing its prior 15% goal. At the same conference, PNC Financial said it expects net interest income to rise more than 15% in 2026 with its net interest margin finishing above 3%, and Citigroup chief financial officer Gonzalo Luchetti said the bank now expects 2026 ROTCE to exceed 11%, up from its prior 10-11% range.