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.

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. 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.

23 analysts publish price targets on WFC, averaging $100.02 against a $86.45 price as of August 2026, or +15.7%. The published targets run from $90.00 to $115.00, a narrow spread, and the ratings split 16 buy, 10 hold, 0 sell. Over the last six months there have been 6 raises and 6 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, $115.00, 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, $90.00, 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.

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

• Full-Year 2025 Total Revenue: ~$82 billion
• Full-Year 2025 Net Income: ~$21.3 billion (up ~8%)
• Full-Year 2025 Diluted EPS: $6.26 (up ~17%)
• Return on Tangible Common Equity (FY2025): ~14.6% (target ~17-18% medium-term)
• Net Interest Income (FY2025): ~$47.7 billion
• CET1 Ratio (Q4 2025): ~10.6%
• Dividend Yield (current): ~2.1%, paid quarterly
• Market Capitalization: ~$250-260 billion (mid-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 ~14.6% in 2025 trails best-in-class peers but is rising toward its 17-18% target. The efficiency ratio (costs as a share of revenue, running in the mid-60s percent) measures how lean the operation is, and net interest income tracks the rate-sensitive core of profitability. The CET1 ratio (~10.6%) gauges capital strength and how much room exists for buybacks and dividends, and Wells Fargo has been returning large amounts of capital. The distinctive upside here is the 2025 asset-cap removal, which lifts a structural lid on growth that constrained the bank for seven years; the open question is how much of that future growth is already reflected in the share price.

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 and full-year 2025 net income of ~$21.3 billion on ~14.6% return on tangible common equity. 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.