Wells Fargo (NYSE: WFC) Q3 Earnings Preview: What to Watch

• Wells Fargo (NYSE: WFC) is preparing to release its third-quarter earnings, with Wall Street anticipating $1.85 per share and $22.30 billion in revenue.
• The impact of bond yields on bank profitability is a key concern, as higher rates could both benefit and pressure banks like Wells Fargo.
• An investigation by the U.S. Department of Housing and Urban Development into mortgage programs has also influenced Wells Fargo's stock performance.

Wells Fargo is a major U.S. bank that serves consumers and businesses through lending, deposits, and other financial services. The financial institution is scheduled to report its third-quarter earnings before the market opens on Tuesday, October 13, 2026. Wall Street analysts expect earnings per share of $1.85 and revenue of approximately $22.30 billion.

Analysts anticipate earnings growth and revenue growth from the quarter ended September 2025. Earnings per share (EPS) measures profit divided by the number of shares. Results above or below the $1.85 estimate could influence Wells Fargo's stock performance, while management’s comments may shape expectations for later quarters. Zacks Investment Research indicates its indicators do not point to an earnings beat for the banking giant.

Bond yields are another critical issue for investors to watch. Higher interest rates can help banks earn more on loans, boosting net interest income, but a sharp rise in yields can also create pressure, as highlighted by Zacks Investment Research. Its outlook identifies Wells Fargo and JPMorgan among financial institutions facing that risk ahead of third-quarter results.

Wells Fargo shares also experienced a decline after the U.S. Department of Housing and Urban Development announced an investigation into mortgage programs designed to expand homeownership among Black and other minority borrowers, as highlighted by the New York Post. The report does not specify the size of the share-price decline.

Ahead of the upcoming earnings report, Wells Fargo has a trailing price-to-earnings (P/E) ratio of 11.51 and a trailing price-to-sales (P/S) ratio of 1.89. These valuation metrics compare its share price with past earnings and revenue. Its debt-to-equity ratio, a key indicator of financial leverage, stands at 2.55, which compares debt with shareholder equity.