Fargo

• Wells Fargo reported strong Q2 earnings, prompting the bank to plan an 11% dividend increase and $3 billion in stock repurchases. • CEO Charlie Scharf noted that American consumer spending remains robust despite ongoing inflation concerns, though the bank is pursuing a measured growth strategy to withstand future market volatility. • The company reaffirmed its 2026 outlook, projecting net interest income of approximately $48 billion (excluding Markets) and $2 billion from Markets.

• Norges Bank disclosed a new stake in Wells Fargo in its latest 13F filing, according to a report published on May 30. • The filing adds to ongoing investor interest in large U.S. banks as markets assess credit conditions, capital returns and the outlook for financial stocks. • The move matters because institutional positioning can signal changing conviction around megabank valuations and earnings durability.