Wells Fargo rises as CFO signals upbeat annual loan growth
WFC•Wells Fargo shares rise after CFO comments on loan growth
Shares of lender Wells Fargo WFC.N rise 1.45% to $90 in premarket trading.
Annual loan growth will likely be better than guided, CFO Mike Santomassimo says at the Barclays Financial Services Conference.
He also expects net interest margin to be better than guidance in the third quarter.
Conference focus on banks' consumer health and deal pipelines
Wall Street is closely watching the industry conference for commentary on deal pipelines and updates on consumer health from major U.S. banks.
17 of 26 analysts rate the stock "strong buy" or "buy" and nine "hold"; their median price target is $102, according to data compiled by LSEG.
As of the last close, the stock was down 4.8% year to date.
