On July 1, Wells Fargo rose 3.03% in regular trading, trading at $85.27/share, with turnover of $235 million. The rally was driven by the bank's successful completion of the Federal Reserve's supervisory stress test and its announcement of a planned 11% dividend hike.

Wells Fargo's stress capital buffer remains at 2.5%, and the bank plans to raise its Q3 dividend to $0.50 per share from $0.45, subject to board approval. The move comes after all 32 banks under review passed the Fed's annual stress test, with the regulator freezing capital buffer requirements through at least the end of next year. Major peers also announced dividend increases in the 10%-15% range, with JPMorgan boosting its quarterly payout to $1.65 per share alongside a $50 billion buyback program.

The broader Diversified Banks sector rallied in tandem, with JPMorgan Chase up 1.4%, Bank of America up 1.72%, and U.S. Bancorp up 2.19%, reflecting broad-based investor optimism around capital return programs. Wells Fargo's next earnings report is scheduled for July 14, with consensus EPS expectations of $1.73.

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