WFC · News · 20260917N

Interest Rate Environment

WELLS FARGO & COMPANY/MN · 2026-09-17 · Importance 33 · Surprise 50 · In source text

Wells Fargo Bank raised its prime rate to 7.00% from 6.75%, effective September 17, 2026. The increase followed the Federal Reserve’s first rate hike in three years. Higher rates may support net interest income for Wells Fargo and other banks, while increasing pressure on deposit costs and funding competition. The change affects various Wells Fargo financial products in the U.S.

Key facts

• Wells Fargo Bank is raising its prime rate to 7.00 percent from 6.75 percent, effective September 17, 2026. source
• Wells Fargo & Company operates with approximately $2.3 trillion in assets across diverse segments. source
• The Fed's first rate hike in three years raises net interest income (NII) potential but pressures deposits for JPM, BAC, C, WFC and KEY (including WFC). source
• Wells Fargo has lowered its price target for ON Semiconductor (ON) shares to $85 from $95 while maintaining an Overweight rating. source
• Wells Fargo has initiated coverage on Cipher Digital (Nasdaq: CIFR) with an "overweight" rating and a $25 price target. source
• Wells Fargo has initiated coverage on Core Scientific (CORZ) with an "Overweight" rating and set a price target of $28. source
• MarketBeat reported that Wells Fargo is one of the firms that has issued positive ratings and increased price targets on First Tracks Biotherapeutics (TRAX). source

Impact estimates