Upside case
Bull case
$247+209.2%
WFC would need investors to value it at roughly 35x earnings — about 24x more generous than today's 11x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated May 1, 2026
Wells Fargo & Company (WFC) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
60
analysts
27 bullish · 4 bearish · 60 covering WFC
Strong Buy
0
Buy
27
Hold
29
Sell
4
Strong Sell
0
Consensus Target
$98
+22.8% vs today
Scenario Range
$23 – $247
Model bear to bull value window
Coverage
60
Published analyst ratings
Valuation Context
11.4x
Forward P/E · Market cap $247.1B
WFC price targets
Three scenarios for where WFC stock could go
Current
~$80
Confidence
56 / 100
Updated
May 1, 2026
Where we are now
Current · $80
Bear
$23
Base
$116
Bull
$247
Market caseClosest to today
Base case
$116+45.7%
At 17x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$23-71.8%
If investor confidence fades or macro conditions deteriorate, a 8x multiple contraction could push WFC down roughly 72% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Wells Fargo & Company
WFC · NYSEFinancial ServicesBanks - DiversifiedDecember year-end
Wells Fargo is one of America's largest diversified financial services companies operating primarily through its extensive branch network. It generates revenue from interest income on loans (roughly 60% of total revenue) and non-interest income from fees for banking services, wealth management, and investment banking. Its key competitive advantage is its massive retail banking footprint—with thousands of branches serving millions of customers—which creates a stable deposit base and cross-selling opportunities.
Market Cap
$247.1B
Net Income TTM
$21.1B
WFC Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+7.9%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 2 of 4Q3 2025
EPS
$1.54/$1.41
Revenue
$20.8B/$20.8B
Q4 2025
EPS
$1.73/$1.55
Revenue
$21.4B/$21.1B
Q1 2026
EPS
$1.62/$1.66
Revenue
$21.3B/$21.6B
Q2 2026
EPS
$1.56/$1.58
Revenue
$21.4B/$21.8B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $1.54/$1.41 | +9.2% | $20.8B/$20.8B | +0.3% |
| Q4 2025 | $1.73/$1.55 | +11.6% | $21.4B/$21.1B | +1.4% |
| Q1 2026 | $1.62/$1.66 | -2.4% | $21.3B/$21.6B | -1.7% |
| Q2 2026 | $1.56/$1.58 | -1.3% | $21.4B/$21.8B | -1.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$108.9B
-13.2% YoY
FY2
$122.8B
+12.8% YoY
EPS Outlook
FY1
$6.86
+4.9% YoY
FY2
$7.83
+14.0% YoY
Trailing FCF (TTM)-$14.2B
Next Earnings
—
Expected EPS
—
Expected Revenue
—
WFC beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
WFC Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2024
Total disclosed revenue $83.8B
Product Mix
Latest annual revenue by segment or product family
Community Banking
43.2%
-4.5% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Community Banking is the largest disclosed segment at 43.2% of FY 2024 revenue, down 4.5% YoY.
WFC Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fairly Valued
Fair value est. $78 — implies -2.9% from today's price.
Premium to Fair Value
2.9%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
WFC
14.9x
vs
S&P 500
25.1x
41% discount
vs Financial Services Trailing P/E
WFC
14.9x
vs
Financial Services
13.3x
+12% premium
vs WFC 5Y Avg P/E
Today
14.9x
vs
5Y Average
23.9x
38% discount
Forward PE
11.4x
S&P 500
19.1x
-40%
Financial Services
10.4x
+10%
5Y Avg
—
—
Trailing PE
14.9x
S&P 500
25.1x
-41%
Financial Services
13.3x
+12%
5Y Avg
23.9x
-38%
PEG Ratio
2.66x
S&P 500
1.72x
+55%
Financial Services
1.01x
+163%
5Y Avg
—
—
EV/EBITDA
10.5x
S&P 500
15.2x
-31%
Financial Services
11.4x
-8%
5Y Avg
9.1x
+15%
Price/FCF
81.4x
S&P 500
21.1x
+286%
Financial Services
10.6x
+672%
5Y Avg
37.9x
+115%
Price/Sales
2.0x
S&P 500
3.1x
-37%
Financial Services
2.2x
-11%
5Y Avg
1.9x
+6%
Dividend Yield
1.85%
S&P 500
1.87%
-1%
Financial Services
2.70%
-31%
5Y Avg
2.50%
-26%
| Metric | WFC | S&P 500 | Financial Services | 5Y Avg WFC |
|---|---|---|---|---|
| Forward PE | 11.4x | 19.1x-40% | 10.4x | — |
| Trailing PE | 14.9x | 25.1x-41% | 13.3x+12% | 23.9x-38% |
| PEG Ratio | 2.66x | 1.72x+55% | 1.01x+163% | — |
| EV/EBITDA | 10.5x | 15.2x-31% | 11.4x | 9.1x+15% |
| Price/FCF | 81.4x | 21.1x+286% | 10.6x+672% | 37.9x+115% |
| Price/Sales | 2.0x | 3.1x-37% | 2.2x-11% | 1.9x |
| Dividend Yield | 1.85% | 1.87% | 2.70% | 2.50% |
WFC trades above S&P 500 benchmarks on 2 of 6 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolWFC Financial Health
Verdict
Stressed
WFC generates 11.5% ROE and 1.0% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
—
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
—
Net Margin
Net income divided by revenue
—
EPS (TTM)
Diluted earnings per share, trailing twelve months
$6.54
ROE
Return on equity — the primary profitability signal for banks
11.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
3.7%
ROA
Return on assets, trailing twelve months
1.0%
Cash & Equivalents
Liquid assets on the balance sheet
$203.4B
Net Debt
Total debt minus cash
$78.5B
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
11.5%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
10.9%
Dividend
1.9%
Buyback
9.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$22.3B
Dividend / Share
Annualized trailing dividend per share
$1.48
Payout Ratio
Share of earnings distributed as dividends
26.0%
Shares Outstanding
Declining as buybacks retire shares
3.5B
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageWFC Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Regulatory & Compliance
Wells Fargo continues to face intense regulatory scrutiny stemming from past scandals. The Federal Reserve terminated an enforcement action in March 2026, but investors remain wary of potential future restrictions, fines, and reputational damage that could materially impact earnings and capital.
Medium
Commercial Real Estate Exposure
The bank’s commercial‑real‑estate (CRE) portfolio contains vulnerabilities that could erode net interest income (NII) and increase credit losses. Rising rates and tightening credit conditions may accelerate charge‑offs, especially in office‑related CRE assets.
Medium
Macroeconomic Conditions
Higher‑than‑expected inflation and rising interest rates have weighed on bank stocks, with early‑2026 data fueling concerns about credit risk. These macro factors can compress margins and increase default rates across the loan book.
Medium
Net Interest Income Guidance
Wells Fargo’s 2026 NII guidance fell short of analyst expectations, raising doubts about future profitability. A lower‑than‑anticipated NII could pressure earnings and dividend prospects.
Medium
Exposure to Specific Firms
The bank’s exposure to the collapsed UK mortgage firm Market Financial Solutions Ltd. triggered a share‑price decline. Concentrated losses from such entities could materialize if further defaults occur.
Lower
Capital Distribution Restrictions
Regulatory requirements and shareholder agreements can limit Wells Fargo’s ability to distribute capital, including dividends. Restrictions on capital distributions may affect liquidity and investor returns.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why WFC Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
Regulatory Relief Boosts Flexibility
The Office of the Comptroller of the Currency lifted a key consent order in January 2024, removing a significant overhang for Wells Fargo. This regulatory relief enhances earnings potential and allows the bank to pursue a more proactive growth strategy.
Robust Capital Stack Strengthens Position
Wells Fargo maintains a high Common Equity Tier 1 (CET1) ratio and a strong Liquidity Coverage Ratio (LCR). The recent issuance of long‑dated debt and preferred shares further bolsters its capital structure.
Efficiency Initiatives Drive Profitability
Analysts project several years of slower expense growth as efficiency improvement initiatives take effect, which is expected to lift profitability margins.
Strong Earnings and Attractive Valuation
The bank has reported earnings per share (EPS) that have exceeded analyst expectations. Its price‑to‑earnings (P/E) ratio is below the market average, and the price‑to‑earnings‑growth (PEG) ratio is favorable.
Shareholder‑Friendly Returns and Repurchases
Wells Fargo offers a meaningful dividend yield with a sustainable payout ratio. The company is actively repurchasing shares, providing additional upside for shareholders.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
WFC Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$79.89
52W Range Position
31%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$71.90
+11.1% from the low
52-Week High
$97.76
-18.3% from the high
1 Month
-2.39%
3 Month
-13.17%
YTD
-16.1%
1 Year
+8.2%
3Y CAGR
+28.2%
5Y CAGR
+11.7%
10Y CAGR
+5.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
WFC vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
11.4x
vs 11.9x median
-4% below peer median
Revenue Growth
-13.2%
vs -12.4% median
-7% below peer median
Net Margin
—
vs — median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
WFC WFC Wells Fargo & Company | $247.1B | 11.4x | -13.2% | — | Hold | +22.8% |
JPM JPM JPMorgan Chase & Co. | $834.2B | 13.9x | -6.4% | — | Buy | +9.5% |
BAC BAC Bank of America Corporation | $404.3B | 11.9x | -17.8% | — | Buy | +15.1% |
C C Citigroup Inc. | $223.7B | 11.8x | -15.9% | — | Buy | +9.7% |
USB USB U.S. Bancorp | $86.5B | 10.9x | -12.4% | — | Hold | +14.8% |
PNC PNC The PNC Financial Services Group, Inc. | $89.6B | 12.0x | -8.9% | — | Hold | +14.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
WFC Dividend and Capital Return
WFC returns capital mainly through $22.3B/year in buybacks (9.0% buyback yield), with a modest 1.85% dividend — combining for 10.9% total shareholder yield.
Dividend SustainableFCF Unknown
Total Shareholder Yield
10.9%
Dividend + buyback return per year
Buyback Yield
9.0%
Dividend Yield
1.85%
Payout Ratio
26.0%
How WFC Splits Its Return
Div 1.85%
Buyback 9.0%
Dividend 1.85%Buybacks 9.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.48
Growth Streak
Consecutive years of dividend increases
4Y
3Y Div CAGR
15.6%
5Y Div CAGR
6.9%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
5 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$22.3B
Estimated Shares Retired
279M
Approx. Share Reduction
8.0%
Shares Outstanding
Current diluted share count from the screening snapshot
3.5B
At 8.0%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.90 | — | — | — |
| 2025 | $1.70 | +13.3% | — | — |
| 2024 | $1.50 | +15.4% | 9.2% | 11.3% |
| 2023 | $1.30 | +18.2% | 7.4% | 10.0% |
| 2022 | $1.10 | +83.3% | 3.8% | 6.4% |
FAQ
7 questionsWFC Investor Questions
Common questions answered from live analyst data and company financials.
01Is Wells Fargo & Company (WFC) stock a buy or sell in 2026?
Wells Fargo & Company (WFC) is rated Hold by Wall Street analysts as of 2026. Of 60 analysts covering the stock, 27 rate it Buy or Strong Buy, 29 rate it Hold, and 4 rate it Sell or Strong Sell. The consensus 12-month price target is $98, implying +22.8% from the current price of $80. The bear case scenario is $23 and the bull case is $247.
02What is the WFC stock price target for 2026?
The Wall Street consensus price target for WFC is $98 based on 60 analyst estimates. The high-end target is $113 (+41.4% from today), and the low-end target is $74 (-7.4%). The base case model target is $116.
03Is Wells Fargo & Company (WFC) stock overvalued in 2026?
WFC trades at 11.4x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals fairly valued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Wells Fargo & Company (WFC) stock in 2026?
The primary risks for WFC in 2026 are: (1) Regulatory & Compliance — Wells Fargo continues to face intense regulatory scrutiny stemming from past scandals. (2) Commercial Real Estate Exposure — The bank’s commercial‑real‑estate (CRE) portfolio contains vulnerabilities that could erode net interest income (NII) and increase credit losses. (3) Macroeconomic Conditions — Higher‑than‑expected inflation and rising interest rates have weighed on bank stocks, with early‑2026 data fueling concerns about credit risk. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Wells Fargo & Company's revenue and earnings forecast?
Analyst consensus estimates WFC will report consensus revenue of $108.9B (-13.2% year-over-year) and EPS of $6.86 (+4.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $122.8B in revenue.
06When does Wells Fargo & Company (WFC) report its next earnings?
A confirmed upcoming earnings date for WFC is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Wells Fargo & Company generate?
Wells Fargo & Company (WFC) had a free cash outflow of $14.2B in free cash flow over the trailing twelve months. WFC returns capital to shareholders through dividends (1.9% yield) and share repurchases ($22.3B TTM).