Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

The megabank saw $5.1 billion in profits in its fourth quarter, as higher fees from investment banking and wealth management offset weaker interest income on loans.

Net interest margin, which measures lending profitability, expanded to 3.07%, compared with 2.95% a year earlier. Truist's quarterly adjusted net income available to common shareholders was $1.21 billion, or 91 cents per share, surpassing estimates of $1.18 billion, or 88 cents, according to estimates compiled by LSEG.