Wells Fargo & Company (WFC) Stock Price & How to Invest

Wells Fargo & Company (NYSE: WFC) is one of the largest financial institutions in the United States, with roughly $1.9-2.0 trillion in assets and operations organized into four segments: Consumer Banking and Lending (checking, savings, mortgages, auto loans, and credit cards), Commercial Banking (lending and treasury services for middle-market companies), Corporate and Investment Banking (markets trading, banking, and lending for large clients), and Wealth and Investment Management (advisory and private banking). The bank makes money in two broad ways: net interest income, the spread between what it earns on loans and securities and what it pays on deposits, which was roughly $47.7 billion in 2025, and noninterest fee income from cards, investment banking, trading, wealth management, and deposit services.

Wells Fargo's recent history was defined by the 2016 fake-accounts scandal, in which employees opened millions of unauthorized accounts to hit sales targets, leading the Federal Reserve to impose a $1.95 trillion asset cap in 2018 along with multiple consent orders. Charlie Scharf became CEO in 2019 and led a multi-year turnaround focused on rebuilding risk and control infrastructure, closing consent orders, cutting costs, and reshaping the business mix. That effort reached a milestone on June 3, 2025, when the Federal Reserve lifted the asset cap after concluding the bank had met the required governance and risk-management conditions, freeing Wells Fargo to grow its balance sheet again for the first time in seven years. In full-year 2025 the bank earned net income of about $21.3 billion (up roughly 8%), diluted EPS of $6.26 (up about 17%), and a return on tangible common equity of about 14.6%, while authorizing a large buyback program and raising its dividend.

2026 has brought better earnings and a weaker share price. Net income was about $5.0 billion in the first quarter, $6.2 billion in the second (EPS of $2.00 against ~$1.72 expected) and $5.7 billion in the third, when EPS of $1.87 was a touch above the ~$1.85 consensus but revenue of about $21.87 billion missed the ~$22.15 billion estimate. Third-quarter ROTCE was about 16.3%, average deposits rose about 11% year over year to roughly $1.48 trillion, and management reiterated roughly $50 billion of 2026 net interest income and about $55.7 billion of noninterest expense. Trailing twelve-month net income is about $22.0 billion on roughly $83.1 billion of revenue. The stock closed near $83.87 on October 16, 2026, down about 11.9% for the year and roughly flat over twelve months, as big-bank shares fell even on solid reports; Scharf said on the call that inflation, gas prices and higher rates continue to weigh on consumers and that credit should weaken at some point, though the bank does not see it yet.

Wells Fargo is highly sensitive to interest rates: net interest income is its single largest revenue line (about $47.7 billion in 2025), so falling rates or deposit repricing can compress earnings, and 2025 revenue was roughly flat partly because of lower net interest income. As an economically cyclical bank, it is exposed to the credit cycle, where a recession or rising unemployment would increase loan losses, particularly in cards, commercial real estate, and consumer lending. Regulatory legacy remains a factor: while the asset cap is lifted, certain consent-order provisions from the 2016 fake-accounts scandal persist and reputational and compliance costs can recur. Execution risk is real now that the cap is gone, because growing profitably without re-introducing the controls problems of the past is unproven at scale. Revenue growth has been thin (third-quarter 2026 revenue was up only about 0.4% year over year and missed estimates), so earnings gains lean on expenses, buybacks and credit staying benign; Scharf has said he expects credit to weaken at some point. The bank also still draws regulatory penalties, most recently a $4.4 million settlement with state regulators in October 2026 over alleged commission overcharges on small-dollar trades, shared with Merrill Lynch. Finally, broad macro risks (trade and geopolitical uncertainty, fiscal pressures, and market volatility) could weigh on loan demand, fee income, and the value of the bank's securities portfolio.

24 analysts publish price targets on WFC, averaging $97.48 against a $83.87 price as of October 2026, or +16.2%. The published targets run from $88.00 to $108.00, a narrow spread, and the ratings split 19 buy, 8 hold, 0 sell. Over the last six months there have been 3 raises and 8 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full WFC forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Wells Fargo & Company. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Asset cap removal unlocks balance-sheet growth. The Federal Reserve lifted Wells Fargo's $1.95 trillion asset cap on June 3, 2025, ending a seven-year restriction that had been in place since 2018. The most optimistic published target, $108.00, assumes this works close to its best case.

The case against. Wells Fargo is highly sensitive to interest rates: net interest income is its single largest revenue line (about $47.7 billion in 2025), so falling rates or deposit repricing can compress earnings, and 2025 revenue was roughly flat partly because of lower net interest income. The most pessimistic target, $88.00, is roughly what WFC is worth if this bites instead.

Read the full bull and bear case on WFC, including what would have to change to break either one. Walnut is not an investment adviser.

No. Wells Fargo & Company (WFC) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Wells Fargo & Company's investor relations page or your broker.

• Revenue (TTM): ~$83.1 billion; Q3 2026 ~$21.9 billion (up ~0.4% YoY, vs ~$22.15 billion expected)
• Net Income (TTM): ~$22.0 billion; Q3 2026 ~$5.7 billion
• Diluted EPS: Q3 2026 $1.87 vs ~$1.85 expected; TTM ~$6.88
• Return on Tangible Common Equity (Q3 2026): ~16.3% (target ~17-18%)
• Net Interest Income (FY2026 guidance): ~$50 billion, reiterated
• CET1 Ratio (Q3 2026): ~10% (management range 10-10.5%)
• P/E (trailing / forward): ~12x / ~10x
• Dividend Yield: ~2.4% (~$2.00 annualized), paid quarterly
• Market Capitalization: ~$252 billion at ~$83.87 (October 16, 2026)

Reading a large bank means looking past a single earnings number to a handful of structural metrics. Return on tangible common equity (ROTCE) shows how efficiently the bank turns shareholder capital into profit; Wells Fargo's ~16.3% in the third quarter of 2026 is up from ~14.6% for 2025 and approaching its 17-18% target. Net interest income, guided to about $50 billion for 2026, tracks the rate-sensitive core of profitability, and the CET1 ratio (~10%) gauges how much room exists for buybacks and dividends. At about $83.87 the stock trades near 12 times trailing and 10 times forward earnings and roughly 1.5 times book value, below where it stood at the start of 2026 even as earnings rose; analysts' mean target is about $97.48. The distinctive upside remains the 2025 asset-cap removal, and the open question is whether revenue growth, which was close to flat in the third quarter, picks up enough to carry returns the rest of the way.

If you want WFC exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses WFC naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to WFC: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get WFC exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (PFF, XLF, PFFD), which spreads the position across many companies. Or build it into a focused thematic portfolio, so WFC sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where WFC fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Wells Fargo is a large-cap U.S. money-center bank in the late stages of a regulatory turnaround, with the Federal Reserve's asset cap lifted in 2025, full-year 2025 net income of ~$21.3 billion on ~14.6% return on tangible common equity, and ROTCE up to about 16.3% in the third quarter of 2026. At ~$83.87 in mid-October 2026 it trades near 12x trailing and 10x forward earnings. As a value-oriented, economically cyclical bank stock, it tends to move with interest rates, the credit cycle, and the broader economy, paying a quarterly dividend and returning large amounts of capital through buybacks.

Whether WFC is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is WFC a buy or a sell?, and where the stock could go from here in the WFC stock forecast.

For income investors, whether WFC pays a dividend and how the payout looks is covered in does WFC pay a dividend? And to weigh WFC against a peer, read the full side-by-side comparisons: WFC vs BAC and WFC vs JPM.