最新ニュース Wells Fargo (NYSE:WFC) 株価情報

Wells Fargo

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.

Wells Fargo & Co

Where Food Comes From, Inc. - Common Stock

Where Food Comes From Inc

1867 WESTN FINL CORP by 1867 Western Financial Corp

1867 Western Financial Corp

WELLS FARGO & CO D/E PFD by Wells Fargo & Co.

WELLS FARGO ORD

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD

Wells Fargo & Company 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z

WIIM

FCNCA

HFBL

HWBK

INBK

Shares of banking companies are trading higher amid overall market strength following strong September Unemployment Rate and Nonfarm Payrolls data. Also, the dockworkers struck a deal to suspend their strike after they reached a tentative agreement, easing concerns about its potential ramifications.

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) revealed 34 unusual trades.
Delving into the details, we found 11% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $511,054, and 26 were calls, valued at $1,380,926.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $62.5 for Wells Fargo during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale activity within a strike price range from $45.0 to $62.5 in the last 30 days. 
<h3>Wells Fargo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728056778_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$5.75</td>
<td>$5.65</td>
<td>$5.65</td>
<td>$60.00</td>
<td>$168.9K</td>
<td>246</td>
<td>300</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$13.9</td>
<td>$13.35</td>
<td>$13.35</td>
<td>$45.00</td>
<td>$133.5K</td>
<td>3.4K</td>
<td>100</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$1.68</td>
<td>$1.41</td>
<td>$1.42</td>
<td>$55.00</td>
<td>$98.2K</td>
<td>5.4K</td>
<td>1.1K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$0.93</td>
<td>$0.92</td>
<td>$0.92</td>
<td>$58.00</td>
<td>$88.5K</td>
<td>4.9K</td>
<td>2.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.25</td>
<td>$60.00</td>
<td>$78.7K</td>
<td>5.6K</td>
<td>250</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Wells Fargo's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 5,222,608, the WFC's price is up by 2.62%, now at $56.42. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<h3>Expert Opinions on Wells Fargo</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $66.25.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on Wells Fargo, maintaining a target price of $67. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $68. 
&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $65. 
&#x2A; An analyst from Evercore ISI Group persists with their Outperform rating on Wells Fargo, maintaining a target price of $65. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wells Fargo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

Wells Fargo Options Trading: A Deep Dive into Market Sentiment

After securing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41175197/openais-latest-eye-popping-valuation-ignites-analyst-expectations-for-tidal-wave-of">whopping $6.6 billion funding</a> round, ChatGPT-parent&nbsp;OpenAI has bagged a&nbsp;$4 billion revolving credit line.
What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">computing capacity</a> including Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
&#8220;This credit facility further strengthens&nbsp;our balance sheet and provides&nbsp;flexibility to seize future growth&nbsp;opportunities,&#8221; said OpenAI CFO&nbsp;Sarah Friar, in a blog on Thursday.
The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Banco Santander S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>), Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Sumitomo Mitsui Banking&nbsp;Corporation, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), and HSBC Holdings plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>).
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this week, OpenAI, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valued at nearly $157 billion</a>, raised funds&nbsp;from returning venture capital investors&nbsp;such as&nbsp;Thrive Capital and Khosla Ventures.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has already invested approximately $13 billion into the AI firm over the last five years,&nbsp;and new investor Nvidia, also&nbsp;participated in the funding round.
Despite <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">major executive changes</a>, including the sudden exit of CTO Mira Murati, investors remain optimistic about OpenAI&#8217;s growth prospects.
However, OpenAI has also faced criticism from Elon Musk, who accused the company of&nbsp;<a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival">unfair funding practices</a>.
On the other hand, analysts expect a &#8220;tidal wave&#8221; of AI spending, with OpenAI&#8217;s latest valuation seen as a trigger for this growth stage.
Photo Courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41111038/elon-musk-gets-bold-font-removed-from-xs-main-timeline-because-of-excessive-use-my-eyes-are-bleeding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Gets Bold Font Removed From X&#8217;s Main Timeline Because Of &#8216;Excessive&#8217; Use: &#8216;My Eyes Are Bleeding&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Tech

HSBC

MSFT

NVDA

OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: 'Provides Flexibility To Seize Future Growth Opportunities'

Deep-pocketed investors have adopted a bullish approach towards Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WFC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Wells Fargo. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 36% bearish. Among these notable options, 21 are puts, totaling $925,781, and 15 are calls, amounting to $761,656.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $70.0 for Wells Fargo during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Wells Fargo stands at 10752.79, with a total volume reaching 25,719.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wells Fargo, situated within the strike price corridor from $40.0 to $70.0, throughout the last 30 days.
<h3>Wells Fargo Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727896582_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.75</td>
<td>$0.67</td>
<td>$0.75</td>
<td>$65.00</td>
<td>$112.7K</td>
<td>16.3K</td>
<td>1.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.38</td>
<td>$1.36</td>
<td>$1.38</td>
<td>$60.00</td>
<td>$108.9K</td>
<td>6.6K</td>
<td>791</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.77</td>
<td>$0.76</td>
<td>$0.76</td>
<td>$65.00</td>
<td>$84.8K</td>
<td>16.3K</td>
<td>1.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.3</td>
<td>$0.28</td>
<td>$0.29</td>
<td>$70.00</td>
<td>$73.5K</td>
<td>13.2K</td>
<td>2.8K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.8</td>
<td>$4.7</td>
<td>$4.8</td>
<td>$57.50</td>
<td>$56.6K</td>
<td>6.6K</td>
<td>435</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Wells Fargo's Current Market Status</h3>
<ul>
<li>With a volume of 5,352,677, the price of WFC is down -0.3% at $55.23. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 9 days.</li>
</ul>
<h3>What The Experts Say On Wells Fargo</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $66.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $65. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Wells Fargo with a target price of $67. 
&#x2A; In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65. 
&#x2A; Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Wells Fargo with a target price of $65. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $68. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wells Fargo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

This Is What Whales Are Betting On Wells Fargo

Evercore ISI Group analyst John Pancari maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Outperform and raises the price target from $65 to $68.

Price Target

Analyst Ratings

Evercore ISI Group Maintains Outperform on Wells Fargo, Raises Price Target to $68

Earlier this month, the Federal Reserve slashed interest rates by 50 basis points at its September Federal Open Market Committee meeting, lowering the federal funds rate in the range of <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" rel="noreferrer noopener">4.75%-5%</a>.
The Fed also hinted at the potential for additional cuts in the coming months, with the updated dot plot revealing a more aggressive rate-cutting trajectory than <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h" rel="noreferrer noopener">forecasted in June</a>.
Morgan Stanley economists anticipate an additional 150 basis points of rate reductions by mid-2025, with the U.S. economy steering clear of a recession.
Morgan Stanley highlights the banks expected to see the greatest net interest margin (NIM) expansion or compression through the end of 2025, based on the projection that short-term rates will decrease by 200 basis points.
Midcap banks are in a stronger position as they experienced greater pressure on deposit costs (higher deposit betas) when interest rates increased. They anticipate this pressure to ease at a similar pace as rates fall.
Also, midcap banks hold more fixed-rate assets that were issued when rates were much lower in 2021 and 2022, allowing for higher repricing even as rates decrease coupled with lower liquidity requirements.
For midcap banks, the analyst identifies Prosperity Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>), rated Overweight, as offering the best risk-reward profile. The firm is expected to experience one of the largest net interest margin (NIM) expansions through the fourth quarter of 2025, driven by the upward repricing of fixed-rate loans and securities.
Similarly, Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>), newly rated Overweight, is projected to benefit from a significant rise in NIM as deposit costs decline. It has minimal exposure to floating-rate loans and net cash, which tend to weigh on earnings when interest rates drop.
While M&amp;T Bank Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), the analyst&#8217;s top pick, ranks in the middle of the group, Morgan Stanley writes that future rate cuts will slightly boost NIM—a view that contrasts with the broader market consensus, which sees rate cuts as a long-term negative for margins.
Rate cuts are advantageous for the seven major large-cap banks sensitive to liabilities. These money center banks also have significant revenue exposure to capital markets, likely boosting fee income growth in a low-rate, soft-landing scenario.
Morgan Stanley expects this environment to strongly support M&amp;A and Equity Capital Markets (ECM) activity. Additionally, lower rates are generally a credit positive for the banking sector.
For large-cap banks, Morgan Stanley holds an Overweight rating on Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), citing expectations for a rebound in capital markets revenues amid a lower-rate environment and a sharp increase in buybacks following the Basel Endgame reproposal.
Regions Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) and U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) are favored due to their liability sensitivity and commercial and industrial loan growth potential to accelerate post-rate cuts.
Meanwhile, Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is highlighted for its strong excess capital levels and the possibility of progress on lifting its asset cap, which could favorably tilt the risk-reward outlook.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/09/41100310/chewy-insider-penalized-by-sec-for-trading-on-confidential-pet-insurance-deal-info" target="_blank" rel="noreferrer noopener">Chewy Insider Penalized by SEC for Trading on Confidential Pet Insurance Deal Info</a>.</li>
</ul>

Analyst Color

Equities

Large Cap

Trading Ideas

General

CADE

Wells Fargo, Citigroup, Goldman Sachs Poised For Gains Amid Fed Rate Cuts - Morgan Stanley

Ratings for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) were provided by 9 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $64.56, a high estimate of $68.00, and a low estimate of $59.00. A decline of 0.29% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1727715642_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Wells Fargo's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$67.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Richard Ramsden</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$65.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$67.00</td>
</tr>
<tr>
<td>Matt O'Connor</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Buy</td>
<td>$65.00</td>
<td>-</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$68.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$59.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$67.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$61.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$64.00</td>
<td>$62.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Wells Fargo. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Wells Fargo compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Wells Fargo's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Wells Fargo's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/WFC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Wells Fargo analyst ratings.</a>
<h2>All You Need to Know About Wells Fargo</h2>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
<h3>Key Indicators: Wells Fargo's Financial Health</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Wells Fargo's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 0.76%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Wells Fargo's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 22.43%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Wells Fargo's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.88%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Wells Fargo's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.24%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Wells Fargo's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.2.
<h2>What Are Analyst Ratings?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Examination Of 9 Analyst Recommendations For Wells Fargo

Morgan Stanley analyst Betsy Graseck maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Overweight and lowers the price target from $68 to $67.

Morgan Stanley Maintains Overweight on Wells Fargo, Lowers Price Target to $67

Wells Fargo's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) short percent of float has fallen 12.96% since its last report. The company recently reported that it has 32.05 million shares sold short, which is 0.94% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.49 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Wells Fargo Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727362827_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Wells Fargo has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Wells Fargo's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Wells Fargo's peer group average for short interest as a percentage of float is 1.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Wells Fargo?

Wells Fargo Is Said To Send Fed Crucial Review For Lifting Cap

WFMS is a joint venture that is owned 40% by a wholly owned subsidiary of the Company and 60% by Wells Fargo Bank.
The Company acquired its 40% ownership in WFMS through its 2019 merger with First Data Corporation. The joint venture is expected to expire on April&nbsp;1, 2025.
Upon expiration, the Company expects to receive a cash payment or assets equal to the value of its share of the joint venture, as determined in accordance with an agreed upon contractual valuation and separation process.
The Company estimates the impairment charge to be in the range of $400&nbsp;million to $600&nbsp;million.&nbsp;The Company does not expect the impairment to impact the Company&rsquo;s 2024 adjusted earnings per share because it is a&nbsp;non-cash&nbsp;impairment charge.
In addition, the Company does not expect to change its previously communicated medium-term performance outlook for 2025 and 2026 for organic revenue growth of&nbsp;9-12%&nbsp;or adjusted earnings per share growth of&nbsp;14-18%&nbsp;as a result of the expiration of the joint venture.

Guidance

Fiserv Expects To Record Non-cash Impairment Of Carrying Value Of Equity Method Investment In Wells Fargo Merchant Services JV In Q3; Does Not Expect Impairment To Impact 2024 Adjusted EPS - Filing

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$80.00</td>
<td>$1.5 million</td>
<td>5.0K</td>
<td>2.0K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$57.50</td>
<td>$29.4K</td>
<td>9.3K</td>
<td>1.2K</td>
</tr>
<tr>
<td>GPN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$100.00</td>
<td>$26.0K</td>
<td>589</td>
<td>1.0K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$62.00</td>
<td>$33.3K</td>
<td>900</td>
<td>835</td>
</tr>
<tr>
<td>CUBI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$42.50</td>
<td>$37.5K</td>
<td>10</td>
<td>502</td>
</tr>
<tr>
<td>V</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$255.00</td>
<td>$72.5K</td>
<td>512</td>
<td>267</td>
</tr>
<tr>
<td>USB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$42.50</td>
<td>$104.9K</td>
<td>837</td>
<td>250</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$195.00</td>
<td>$30.5K</td>
<td>4.0K</td>
<td>177</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$167.50</td>
<td>$33.7K</td>
<td>175</td>
<td>157</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$52.50</td>
<td>$29.6K</td>
<td>18</td>
<td>154</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option trade with bearish sentiment. It expires in 177 day(s) on March 21, 2025. Parties traded 2000 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $1.5 million, with a price of $760.0 per contract. There were 5089 open contracts at this strike prior to today, and today 2055 contract(s) were bought and sold. 
• Regarding WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we observe a call option trade with bullish sentiment. It expires in 51 day(s) on November 15, 2024. Parties traded 300 contract(s) at a $57.50 strike. The total cost received by the writing party (or parties) was $29.4K, with a price of $98.0 per contract. There were 9343 open contracts at this strike prior to today, and today 1209 contract(s) were bought and sold. 
• Regarding GPN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>), we observe a put option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 70 contract(s) at a $100.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $372.0 per contract. There were 589 open contracts at this strike prior to today, and today 1040 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 66 contract(s) at a $62.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $33.3K, with a price of $505.0 per contract. There were 900 open contracts at this strike prior to today, and today 835 contract(s) were bought and sold. 
• Regarding CUBI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>), we observe a put option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 250 contract(s) at a $42.50 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $37.5K, with a price of $150.0 per contract. There were 10 open contracts at this strike prior to today, and today 502 contract(s) were bought and sold. 
• For V (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), we notice a put option trade that happens to be bearish, expiring in 86 day(s) on December 20, 2024. This event was a transfer of 145 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $72.5K, with a price of $500.0 per contract. There were 512 open contracts at this strike prior to today, and today 267 contract(s) were bought and sold. 
• For USB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), we notice a call option sweep that happens to be bullish, expiring in 268 day(s) on June 20, 2025. This event was a transfer of 200 contract(s) at a $42.50 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $104.9K, with a price of $525.0 per contract. There were 837 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
• For JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we notice a put option sweep that happens to be bearish, expiring in 51 day(s) on November 15, 2024. This event was a transfer of 100 contract(s) at a $195.00 strike. This particular put needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $30.5K, with a price of $305.0 per contract. There were 4051 open contracts at this strike prior to today, and today 177 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bearish, expiring in 9 day(s) on October 4, 2024. This event was a transfer of 50 contract(s) at a $167.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $33.7K, with a price of $679.0 per contract. There were 175 open contracts at this strike prior to today, and today 157 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a call option trade with bearish sentiment. It expires in 359 day(s) on September 19, 2025. Parties traded 32 contract(s) at a $52.50 strike. The total cost received by the writing party (or parties) was $29.6K, with a price of $925.0 per contract. There were 18 open contracts at this strike prior to today, and today 154 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AFRM

COIN

CUBI

PYPL

10 Financials Stocks Whale Activity In Today's Session

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) revealed 11 unusual trades.
Delving into the details, we found 27% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $300,870, and 7 were calls, valued at $327,805.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $70.0 for Wells Fargo, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Wells Fargo stands at 8544.7, with a total volume reaching 8,874.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wells Fargo, situated within the strike price corridor from $45.0 to $70.0, throughout the last 30 days.
<h3>Wells Fargo Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727195445_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$3.35</td>
<td>$3.3</td>
<td>$3.3</td>
<td>$55.00</td>
<td>$151.8K</td>
<td>5.0K</td>
<td>476</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$0.21</td>
<td>$0.2</td>
<td>$0.2</td>
<td>$60.00</td>
<td>$88.9K</td>
<td>15.4K</td>
<td>4.4K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$4.05</td>
<td>$4.0</td>
<td>$4.05</td>
<td>$52.50</td>
<td>$74.9K</td>
<td>2.1K</td>
<td>294</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/27/24</td>
<td>$0.86</td>
<td>$0.84</td>
<td>$0.85</td>
<td>$55.00</td>
<td>$74.1K</td>
<td>4.6K</td>
<td>1.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$10.05</td>
<td>$10.0</td>
<td>$10.0</td>
<td>$45.00</td>
<td>$44.0K</td>
<td>16.6K</td>
<td>63</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Wells Fargo's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 6,980,596, the WFC's price is down by -2.38%, now at $53.8. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 17 days.</li>
</ul>
<h3>What The Experts Say On Wells Fargo</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $65.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Wells Fargo with a target price of $65. 
&#x2A; Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Wells Fargo, targeting a price of $65. 
&#x2A; In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wells Fargo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Wells Fargo's Options Frenzy: What You Need to Know

The PNC Financial Services Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pnc#NYSE">PNC</a>) and Plaid, a fintech company specializing in data transfer networks, have entered into a bilateral data access agreement. This agreement intends to help PNC customers across the United States to securely and efficiently share their financial data with their preferred financial applications through Plaid.
PNC is utilizing Akoya as its Application Programming Interface service provider to facilitate the secure transfer of customer financial information to authorized data recipients. It is to be noted that the integration of Akoya Data Access Network into PNC Financial&#39;s subsidiary, PNC Bank, was announced in 2021.
PNC Financial and Plaid are pleased to work together to help PNC clients maintain greater control over the tools they utilize to live a stable financial life.
PNC&#39;s agreement with Plaid to enhance customer data security and efficiency comes at a time when other major banks like Wells Fargo &amp; Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wfc#NYSE">WFC</a>) and U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) are also enhancing their API technologies.
Last week, WFC expanded its APIs portfolio with the launch of specialized APIs for its Commercial Banking clients. This automated setup permits effortless data transfer among trading partners, reducing delays in sending and receiving information. In June, USB&#39;s wholly-owned subsidiary, Elavon, launched the Elavon Cloud Payments Interface. This advanced API is intended to simplify managing digital and in-person payment experiences for hotels and other entities related to hospitality.
<h2>PNC&#39;s Management Comments</h2>
Natalie Talpas, executive vice president of Digital and Payments at PNC, said, &quot;PNC&#39;s use of its Akoya-provided API allows for all data recipients, including Plaid, to get connected fast, while also enabling customers to reliably control what financial data they permissions without having to share their login credentials with third parties.&quot;
&quot;Through this new partnership with Plaid, PNC customers will be able to achieve greater data security, privacy, and control while using the third-party financial apps and services they enjoy&quot; stated Talpas.
<h2>Final Words on PNC&#39;s Latest Agreement</h2>
PNC&#39;s data access agreement with Plaid highlights the bank&#39;s commitment to enhance its digital banking while empowering customers with greater security and control over their financial data.
Such a strategic move to enhance customer data security will further solidify PNC&#39;s customer loyalty and attract new clients seeking advanced secured digital solutions. This could lead to increased transaction volumes and higher revenue streams.
Over the past month, shares of PNC have gained 20.2% compared with the industry&#39;s growth of 8.7%.&nbsp;&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/0c/78835.jpg?v=1682611901" />
Image Source: Zacks Investment Research
PNC Financial currently carries a Zacks Rank #3 (Hold).
<a href="https://www.zacks.com/stock/news/2340068/pnc-enters-into-agreement-with-plaid-to-boost-customer-data-security?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2340068">To read this article on Zacks.com click here.</a>

Fintech news covering the emerging Financial Technology services sector

Fintech

Management

PNC Enters Into Agreement With Plaid to Boost Customer Data Security

Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) shares are trading lower by 2.0% to $55.17 Monday afternoon. The stock is pulling back after rallying last week following the news of the Federal Reserve&#8217;s unexpected <a href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h">50-basis-point rate cut</a>.
Wells Fargo&#8217;s sensitivity to interest rate changes and investor speculation about the short-term effects on profitability has caused the stock to be volatile in recent sessions. 
What Happened: Last week&#8217;s larger-than-expected cut lowered the federal funds rate to a range of 4.75% to 5%, which was perceived as a positive development for Wells Fargo. Banks like Wells Fargo typically benefit from lower short-term borrowing costs, as they can access cheaper funding and potentially increase their net interest margins in the near term. 
Additionally, lower interest rates tend to stimulate borrowing by consumers and businesses, which could lead to increased loan demand and higher interest income for Wells Fargo. This potential for immediate growth in lending and profitability likely contributed to the stock&#8217;s initial rise, as investors anticipated a more favorable environment for the bank.
Read Also: <a href="https://www.benzinga.com/insights/options/24/09/40985016/what-the-options-market-tells-us-about-wells-fargo">What The Options Market Tells Us About Wells Fargo</a>
Furthermore, the Federal Reserve&#8217;s statement that inflation was moving sustainably toward 2% added to the market's confidence. As inflation concerns eased, the economic outlook seemed more stable, which would benefit Wells Fargo's business, as consumer and business confidence is critical for maintaining strong lending activity. 
The prospect of additional rate cuts, as indicated by the Fed's dot plot, suggested a longer period of easier monetary policy, further fueling the short-term enthusiasm for Wells Fargo stock.
What Else: Monday&#8217;s subsequent pullback could reflect a more cautious reassessment of the bank&#8217;s long-term outlook. Although lower interest rates reduce short-term borrowing costs, they also typically lead to a decline in long-term rates. This could compress Wells Fargo&#8217;s net interest margins, as the bank earns less on long-term loans while still facing lower yields on its assets. 
Over time, the bank&#8217;s ability to generate income from interest on loans could be hampered in a prolonged low-rate environment, reducing profitability. Investors likely became concerned that while the initial rate cut seemed positive, the extended path of rate reductions might hurt Wells Fargo's ability to sustain its earnings over the longer term.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40983043/us-services-growth-tops-estimate-contraction-in-manufacturing-worsens-reacceleratio">US Services Growth Tops Estimate, Contraction In Manufacturing Worsens: &#8216;Reacceleration Of Inflation&#8217;</a>
Additionally, the Federal Reserve's updated economic projections painted a less favorable picture for future growth. The downward revision in real GDP growth forecasts, coupled with higher unemployment projections through 2026, signaled a weakening economy. 
This raised concerns about potential loan defaults, as higher unemployment often leads to increased credit risk. Wells Fargo, which holds large portfolios of consumer and business loans, could face rising delinquencies and losses in a slower economy. 
The bank&#8217;s exposure to consumer credit, mortgages and commercial loans means that an economic downturn or a prolonged period of sluggish growth would directly impact its earnings.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40983043/us-services-growth-tops-estimate-contraction-in-manufacturing-worsens-reacceleratio">US Services Growth Tops Estimate, Contraction In Manufacturing Worsens: &#8216;Reacceleration Of Inflation&#8217;</a>
<h2 class="wp-block-heading">How To Buy WFC Stock</h2>
By now you're likely curious about how to participate in the market for Wells Fargo &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Wells Fargo, which is trading at $55.21 as of publishing time, $100 would buy you 1.81 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, WFC has a 52-week high of $62.55 and a 52-week low of $38.38.

What's Going On With Wells Fargo (WFC) Stock?

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) revealed 12 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $487,050, and 6 were calls, valued at $199,725.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $70.0 for Wells Fargo during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Wells Fargo's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Wells Fargo's substantial trades, within a strike price spectrum from $25.0 to $70.0 over the preceding 30 days.
<h3>Wells Fargo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727106338_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$5.2</td>
<td>$4.85</td>
<td>$4.9</td>
<td>$52.50</td>
<td>$220.5K</td>
<td>10.6K</td>
<td style="text-align: right;">450</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$9.95</td>
<td>$9.85</td>
<td>$9.85</td>
<td>$65.00</td>
<td>$91.6K</td>
<td>600</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.15</td>
<td>$5.0</td>
<td>$5.0</td>
<td>$52.50</td>
<td>$75.0K</td>
<td>10.6K</td>
<td style="text-align: right;">510</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$1.26</td>
<td>$1.12</td>
<td>$1.12</td>
<td>$70.00</td>
<td>$56.0K</td>
<td>9.1K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.0</td>
<td>$3.95</td>
<td>$4.0</td>
<td>$50.00</td>
<td>$45.2K</td>
<td>12.0K</td>
<td style="text-align: right;">400</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Wells Fargo</h3>
<ul>
<li>Currently trading with a volume of 3,293,861, the WFC's price is down by -2.1%, now at $55.11. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 18 days.</li>
</ul>
<h3>What Analysts Are Saying About Wells Fargo</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $65.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $65. 
&#x2A; An analyst from Goldman Sachs has decided to maintain their Buy rating on Wells Fargo, which currently sits at a price target of $65. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Wells Fargo with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

What the Options Market Tells Us About Wells Fargo

-Wells Fargo Consumer Conference&nbsp;&nbsp;&nbsp;&nbsp;

Skechers CFO Expects Greater-Than-Anticipated Headwinds In China For Second Half Of 2024 Due To Slower Post-COVID Recovery, Despite Long-Term Growth Opportunities; Says "Not Really Going To Give Very Specific Guidance"

ALLY

ARES

BBVA

CRBG

LPLA

UPST

Shares of companies in the broader financial services and banking sectors are trading higher amid overall market strength following the Fed's rate cut, which could drive a rise in spending and lending demand.

On Wednesday, the Federal Trade Commission said Ryan Cohen, managing partner of RC Ventures and Chairman and CEO of GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), will pay a $985,320 civil penalty.
This <a href="https://www.ftc.gov/news-events/news/press-releases/2024/09/gamestop-ceo-ryan-cohen-pay-nearly-1-million-penalty-settle-antitrust-law-violation" target="_blank" rel="noreferrer noopener">fine</a> stems from charges that Cohen violated the Hart-Scott-Rodino Act by failing to file the necessary paperwork during his acquisition of shares in Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>).
Cohen&#8217;s actions resulted in an acquisition that exceeded HSR filing thresholds, triggering the need for federal antitrust agencies to review the deal.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los" rel="noreferrer noopener">GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses</a>.
According to the FTC&#8217;s complaint, Cohen&#8217;s purchase of more than 562,000 Wells Fargo voting securities required him to file an HSR form and wait for regulatory clearance before completing the transaction.
The HSR Act mandates that companies and individuals report large transactions to the FTC and the Department of Justice to allow for federal review.
As per the complaint, Cohen <a target="_blank" href="https://www.ftc.gov/system/files/ftc_gov/pdf/Cohen-Complaint-filed.pdf" rel="noreferrer noopener">acquired</a> 562,077 voting securities in Wells Fargo in March 2018, which resulted in his aggregated holdings of Wells Fargo securities exceeding the $100 million threshold, which in March 2018 was $168.8 million.
Cohen&#8217;s acquisition was not exempt under the Investment-Only Exemption of the HSR Act.
His emails and interactions with Wells Fargo&#8217;s leadership, where he advocated for a board seat and suggested business improvements, indicated an intent to influence the company&#8217;s operations. This intent disqualified his holdings from being considered passive investments.
In January 2021, Cohen made a corrective filing under the HSR Act for the March 2018 voting securities acquisition.
Under the law, finalizing a deal during the 30-day investigation period without approval is prohibited. At the time of Cohen&#8217;s violation, the maximum civil penalty for such infractions was $43,792 per day.
The FTC&#8217;s decision to settle the case and forward it to the DOJ for filing was unanimous, with a 5-0 vote.
Last week, GameStop reported second-quarter net sales of $798.0 million, down from $1.16 billion a year ago and missing the consensus of $895.7 million.
The video game retailer reported a profit of 1 cent per share, beating a Street consensus estimate of a loss <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40803991/gamestop-q2-earnings-highlights-revenue-miss-eps-beat-cash-update-and-more" rel="noreferrer noopener">of 9 cents per share</a>.
Price Action: GME stock is up 1.50% at $19.94 during the premarket session at last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40927367/zimmer-biomet-to-stop-selling-cpt-hip-implant-system-by-end-of-2024-due-to-high-fracture-risks" target="_blank" rel="noreferrer noopener">Zimmer Biomet To Stop Selling CPT Hip Implant System By End Of 2024 Due To High Fracture Risks</a>.</li>
</ul>
Photo: Courtesy of Bill Jerome on Flickr

Legal

GameStop CEO Ryan Cohen Penalized Nearly $1M Over Wells Fargo Share Acquisition

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is going to go higher, adding that <a href="https://www.benzinga.com/quote/WFC">it's a &#8220;winner.&#8221;</a>
On Sept. 17, the San Francisco-based bank launched specialized Application Programming Interfaces (APIs) for its Commercial Banking clients, expanding its API portfolio. 
These APIs offer real-time data access aimed at boosting sales, improving liquidity, reducing credit risk, and cutting expenses for floorplan and channel finance clients <a href="https://www.benzinga.com/markets/equities/24/09/40903846/wells-fargo-launches-new-apis-to-boost-efficiency-and-productivity-details">across several industries.</a>
&#8220;It's had too big a move up,&#8221; Cramer said when asked about Iron Mountain Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>). &#8220;Let's move on.&#8221;
On Aug. 1, Iron Mountain reported better-than-expected second-quarter financial results and issued FY24 AFFO guidance above estimates. Also, the company increased its quarterly dividend.
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) is a &#8220;cold&#8221; stock, Cramer said.
On Sept. 17, the company inked a multi-year, multi-million-dollar contract with Nebraska Medicine. As per the deal, Palantir will utilize its Artificial Intelligence Platform (AIP) to enhance healthcare through <a href="https://www.benzinga.com/markets/equities/24/09/40898997/palantirs-ai-powers-nebraska-medicine-inks-multi-million-dollar-deal-to-advance-patient-care">transformative technologies</a>.
The &#8220;Mad Money&#8221; host recommended buying PG&amp;E Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>). &#8220;That stock is a good one, rate increase or no,&#8221; he added.
On Sept. 12, B of A Securities analyst Ross Fowler reinstated PG&amp;E with a Buy and announced a $24 price target.
Price Action:
<ul>
<li>Iron Mountain shares gained 0.5% to settle at $116.45 on Wednesday.</li>
<li>Wells Fargo shares fell 0.5% to close at $54.26 during the session.</li>
<li>Palantir shares fell 0.2% to close at $36.38 during Wednesday's session.</li>
<li>PG&amp;E shares fell 1.8% to settle at $19.51.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40927530/coinbase-global-electronic-arts-and-2-other-stocks-executives-are-selling">Coinbase Global, Electronic Arts And 2 Other Stocks Executives Are Selling</a></li>
</ul>
Image: Wikimedia Commons

Long Ideas

Media

PLTR

Jim Cramer: This Utilities Stock Is A Buy, Calls Wells Fargo A 'Winner'

BofA's top 10 ideas for the fourth quarter

PYPL, SCHW among top S&P 500 financial movers in Q3

With the Fed's recent rate cuts creating a ripple effect in the financial sector, undervalued stocks like Wells Fargo (WFC), Citigroup (C), and Banco Santander (SAN) are poised for a comeback. As these banks adapt through digital transformation and increased loan demand, they are well-positioned to deliver substantial gains to your portfolio. Read on… The Federal Reserve's recent rate cut to stimulate the economy could be a boon for the financial sector. By lowering interest rates, borrowing becomes more affordable, which can lead to a surge in loan demand. For banks, this means an opportunity to boost earnings, especially those heavily reliant on lending.
Given this backdrop, investors could watch under-the-radar financial stocks, Wells Fargo &amp; Company (<a href="https://stocknews.com/stock/WFC/">WFC</a>), Citigroup Inc. (<a href="https://stocknews.com/stock/C/">C</a>), and Banco Santander, S.A. (<a href="https://stocknews.com/stock/SAN/">SAN</a>), which are poised for a strong comeback in this low-rate environment.
As per the Cognitive Market research, the global Banking and Financial Services market is anticipated to grow at a <a href="https://www.cognitivemarketresearch.com/banking-and-financial-services-market-report#:~:text=Global%20Banking%20and%20Financial%20Services%20Market%20Report%202024%20Market%20Size,7.9%25%20from%202023%20to%202030.">CAGR of 7.9%</a> by 2030, further making the outlook for undervalued financial stocks appear more promising. Market analyst <a href="https://www.forbes.com/sites/jeffreymarcus/2024/09/21/whats-next-after-the-feds-big-rate-cut/">Dan Irvine</a> believes the rate cut has the potential to "stimulate investment, spur consumer spending, and reinvigorate economic activity." If the Fed continues to lower rates, banks could see more loan activity, which means more economic spending and investment.
Additionally, the financial industry is reshaping its landscape with <a href="https://www.ibm.com/think/topics/digital-transformation-banking">digital transformation</a> by incorporating advanced technologies like artificial intelligence (AI), blockchain, and the Internet of Things (IoT). These innovations are helping banks deliver more seamless and personalized experiences, making them more adaptive and efficient in meeting the needs of modern consumers.
With that in mind, let's take a closer look at the fundamentals of these stocks:
Wells Fargo &amp; Company (<a href="https://stocknews.com/stock/WFC/">WFC</a>)
WFC provides international diversified banking, investment, mortgage, and consumer and commercial finance products and services. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
On September 18, WFC announced a 50-basis points reduction in its prime rate, lowering it to 8% from 8.50%. This rate cut makes borrowing more affordable, potentially boosting loan demand and expanding WFC's lending business.
In the same month, WFC launched specialized Application Programming Interfaces (APIs), tailored for its Commercial Banking clients. This programming will help WFC provide faster and more adaptive inventory management, order processing, invoicing, accounts payable, and supply chain management.
On August 20, WFC entered into an agreement with Trimont, LLC, a specialized global commercial real estate loan servicer and advisor, to sell its non-agency third-party servicing segment of its Commercial Mortgage Servicing (CMS) business. This transaction aligns well with the company's strategy of focusing business on core consumers and corporates.
In terms of forward non-GAAP P/E, WFC is trading at 10.63x, 10.8% lower than the industry average of 11.92x. Likewise, the stock's forward Price/Sales and Price/Book multiples of 2.24 and 1.11 are 22.2% and 6.9% lower than their respective industry averages of 2.88 and 1.19.
WFC's total revenue for the second quarter (ended June 30, 2024) increased marginally year-over-year to $20.69 billion, while the Wealth and Investment Management segment reported a total revenue of $3.86 billion, indicating a 5.8% growth from the prior-year quarter. The company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> attributable amounted to $4.91 billion, and its EPS came in at $1.33 per share, up 10.8% year-over-year.
Analysts expect WFC's revenue and EPS for the current year (ending December 2024) to be $82.24 billion and $5.10, respectively. For the fiscal year 2025, its revenue and EPS are expected to grow by 1.2% and 6.6% from the prior year to $83.26 billion and $5.43, respectively.
Over the past year, the stock has surged 30.2%, closing the last trading session at $54.16.
WFC's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has a B grade for Value and Momentum. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Among the nine stocks in the <a href="https://stocknews.com/category/money-center-banks/">Money Center Banks</a> industry, it is ranked first. <a href="https://stocknews.com/stock/WFC/">Click here</a> to see the additional WFC ratings (Growth, Stability, Sentiment, and Quality).
Citigroup Inc. (<a href="https://stocknews.com/stock/C/">C</a>)
C is a global diversified financial service holding company offering several financial products and services to consumers, corporations, governments, and institutions. It operates through five segments: Services; Markets; Banking; U.S. Personal Banking; and Wealth. 
On September 18, C lowered its base lending rate by 50 bps to 8% from 8.5%. This move could ease borrowing costs for consumers, potentially driving loan growth and boosting the bank's interest income.
On August 8, the company announced that it had been selected by the Taiwan Depository &amp; Clearing Corporation to provide global custody services as TDCC implements a new centralized custody platform. The support will allow C to leverage its experience in supporting financial market infrastructure and enhance the securities services ecosystem for investors.
In the same month, C was appointed as a depositary bank by NIP Group Inc. (NIP) for its American Depositary Receipt (ADR) program, enabling it to expand its role in international markets, supporting cross-border capital flows and boosting its revenue from depositary services.
In terms of forward GAAP P/E, C is trading at 10.53x, which is 11.7% lower than the industry average of 11.92x. The stock's forward Price/Sales ratio of 1.45x is 49.5% below the industry average of 2.88x. Also, its forward non-GAAP PEG multiple of 0.40 compares to the industry average of 1.28x.
For the second quarter of 2024, which ended on June 30, C's total revenues, net of interest expense increased 3.6% year-over-year to $20.14 billion. Its income from continuing operations came in at $3.26 billion, up 10.5% year-over-year. The company's net income stood at $3.26 billion, or $1.52 per diluted share, indicating an increase of 10.4% and 14.3% year-over-year, respectively.
Street expects C's revenue for the fiscal fourth quarter (ending December 2024) to increase 11.7% year-over-year to $19.48 billion, while its EPS estimate of $1.26 for the same period indicates a 49.6% year-over-year growth. Moreover, it topped the street EPS estimates in each of the trailing four quarters, which is excellent.
C shares have surged 47.8% over the past year and 17.6% year-to-date to close the last trading session at $61.37.
C's mixed fundamentals are reflected in its POWR Ratings. The stock has a B grade for Value and is ranked #5 out of 9 stocks in the Money Center Banks industry.
Beyond what is stated above, we've also rated C for Growth, Momentum, Stability, Sentiment, and Quality. Get all C's ratings <a href="https://stocknews.com/stock/C/">here</a>.
Banco Santander, S.A. (<a href="https://stocknews.com/stock/SAN/">SAN</a>)
Headquartered in Madrid, Spain, SAN is a retail and commercial bank that provides financial services worldwide. The company operates through four segments: Retail Banking; Santander Corporate &amp; Investment Banking; Wealth Management &amp; Insurance; and PagoNxt.
On September 9, SAN and Atitlan announced the launch of Atgro, a global investment platform dedicated to agricultural projects, focusing on ‘superfoods' and sustainable production. The company's involvement in Atgro strengthens its commitment to sustainability and diversifies its investment portfolio, potentially driving long-term growth in the agricultural sector.
In the same month, SAN agreed to become the official retail banking partner of Formula 1&#xAE; for a multi-year deal starting in 2025. This partnership is expected to deepen the company's customer engagement and create value across the market.
In terms of forward non-GAAP P/E, SAN is trading at 6.27x, 47.4% lower than the industry average of 11.92x. Likewise, the stock's forward non-GAAP PEG and Price/Sales multiples of 0.42 and 1.12 are 67.6% and 61% lower than the industry averages of 1.28x and 2.88x, respectively.
In the second quarter that ended on June 30, 2024, SAN reported a total income of €15.67 billion ($17.44 billion), representing an increase of 4.2% year-over-year. The company's profit from continuing operations came in at €3.45 billion ($3.87 billion), up 11.6% from the prior year. In addition, its profit attributable to the parent amounted to €3.21 billion ($3.57 billion) and €0.20 per share, reflecting increases of 12.4% and 17.6% year-over-year, respectively.
The consensus revenue estimate of $16.68 billion for the fiscal third quarter (ending September 2024) represents a 6.2% increase year-over-year. The consensus EPS estimate of $0.23 for the same quarter indicates a 26.9% improvement year-over-year. The company has an impressive surprise earnings history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
The stock has gained 37.2% over the past year to close the last trading session at $5.07.
SAN's POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system.
SAN has an A grade for Momentum and a B for Value, Stability, and Sentiment. It is ranked first out of 90 stocks in the <a href="https://stocknews.com/category/foreign-banks/">Foreign Banks</a> industry. <a href="https://stocknews.com/stock/SAN/">Click here</a> to see the other ratings of SAN for Growth and Quality.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
WFC shares were trading at $53.57 per share on Wednesday afternoon, down $0.59 (-1.09%). Year-to-date, WFC has gained 11.07%, versus a 20.92% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/wfc-c-san-3-undervalued-financial-stocks-poised-for-a-comeback/>3 Undervalued Financial Stocks Poised for a Comeback</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Financial Stocks Poised for a Comeback

Warren Buffett's Berkshire Hathaway's (BRK.A) (BRK.B) sales of Bank of America Corp. ($BAC) shares have noticeably slowed down for the third consec...

Buffett's Berkshire Hathaway Cashes Out $338M in Bank of America (NYSE:BAC) Shares

OpenAI announces new $4B credit facility with bank consortium

Catalyst Watch: Tesla's Robotaxi reveal, AI events for Nvidia, AMD, and HP Enterprise

U.S. equities rallied on October 4, with the Dow Jones Industrial Average closing at a record high following a blockbuster labor report that showed...

Market Wrap: Dow Rallies to Record Close After Strong U.S. Jobs Report

S&P 500 Earnings: Financials Face A Tough Compare With Q3 2023

Navigating U.S. Bank Investing Between Recession Fears And Rate Cut Fantasies

ABNB

ACCD

AGYS

ALKS

AMZN

APLD

BIDU

BYND

CAPR

CELH

COST

DJIA

ERIE

EVRI

FAST

FLUT

GDRZF

GOOG

GSAT

GWRE

HELE

ILMN

MKTX

MYGN

NAPA

NFLX

NVNO

SAVA

SBUX

SCHW

SITC

SMAR

SPOT

TROW

TSLA

UBER

VLKAF

VSTO

VTNR

ZLDPF

Press Releases

Wells Fargo Reaffirms Commitment as Official Bank Sponsor for the 2024 Orange Blossom Classic

Wells Fargo to Present at the Barclays Global Financial Services Conference

Entertainment

EBONY is Bringing the Ultimate HBCU Experience to Atlanta with Inaugural Yard Fest in Partnership with Wells Fargo and 300 Entertainment

Andrew Barnes Joins Wells Fargo Commercial Banking Team to Lead the Military and Veteran Segment

Wells Fargo Issues Statement on Agreement with OCC

Volkswagen Financial Services U.S. and Wells Fargo announce cooperation agreement for vehicle purchase financing of Volkswagen, Audi, and Ducati brands in the United States

Wells Fargo Expands API Capabilities for its Commercial Banking Business

Wells Fargo Bank Decreases Prime Rate to 8.00 Percent

Wells Fargo Donates More Than $1 Million For Hurricane Helene Disaster Relief

Wells Fargo to Announce Third Quarter 2024 Earnings on Oct. 11, 2024

Bank of America

Banco Bradesco Sa American Depositary Shares

Bank Bradesco

Banco Bradesco Sa American Depositary Shares (each representing one Common Share)

Banco Bilbao Vizcaya Argentaria S.A. Common Stock

Barclays

Banco Santander Brasil SA American Depositary Shares, each representing one unit

Banco Santander

Citigroup

First Citizens BancShares, Inc. - Class A Common Stock

First Citizens BancShares

Fifth Third Bancorp

HDFC Bank

HSBC Holdings

ICICI Bank

ING Groep

Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares)

Itau Unibanco Holding

JPMorgan Chase

KB Financial Group

Lloyds Banking Group Plc American Depositary Shares

Lloyds Banking Group

Mizuho Financial Group, Inc. Sponosred ADR (Japan)

Mizuho Financial Gr

Mitsubishi UFJ Financial Group, Inc. Common Stock

Mitsubishi UFJ Finl Gr

Nu Holdings

NatWest Group plc American Depositary Shares, (each representing two (2) Ordinary Shares)

NatWest Group

PNC Financial Services Group, Inc. (The) Common Stock

PNC Finl Servs Gr

Banco Santander, S.A. Sponsored ADR (Spain)

Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan)

Comments

Wells Fargo

ニュース

最新ニュース Wells Fargo (NYSE:WFC) 株価情報

こんな人も見ています

ニュース

パートナーシップ

ベンジンガ・グローバル