Key Stats for Wells Fargo Stock
- Price change for Wells Fargo stock: -5%
- $WFC Share Price as of Apr. 14: $82
- 52-Week High: $98
- $WFC Stock Price Target: $98
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What Happened?
Wells Fargo (WFC) stock dropped on Tuesday after the bank posted Q1 results that fell short of Wall Street expectations on both revenue and net interest income.
- The bank earned $1.56 per share, lower than the analyst estimate of $1.60.
- Revenue was just below the analyst consensus at $21.79 billion.
- Net interest income — the money a bank earns from loans minus what it pays on deposits — missed forecasts.
- That’s a key number for Wells Fargo investors, who have been watching closely since the Fed lifted the bank’s asset cap last year.
- On the earnings call, CEO Charlie Scharf pointed to rising energy prices as a growing concern.
- CFO Mike Santomassimo said consumers are spending roughly 25–30% more on gas than before the Middle East conflict began in late February.
- Higher energy costs eat into household budgets, and for Wells Fargo, that’s a direct issue — over 40% of its revenue comes from consumer banking.
There were some bright spots.
- Total loans crossed $1 trillion for the first time since 2020, up 11% from a year ago.
- The bank has been aggressively growing its credit card and auto loan books since the asset cap was removed.
- It also returned $5.4 billion to shareholders in the quarter, including $4 billion in buybacks.
Wells Fargo stock also got attention for its exposure to non-bank financial firms. The bank held $210 billion in loans to institutions like private equity and private credit managers.
Santomassimo pushed back on concerns, saying the bank is “quite comfortable” with the risk profile given its structural protections and diversified collateral.
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What the Market Is Telling Us About Wells Fargo Stock
Wells Fargo stock had been one of the more anticipated turnaround stories in banking, with the asset cap finally gone and loan growth accelerating.
But Tuesday’s miss is a reminder that the macro environment can complicate even the best-laid plans.
Rising oil prices, cautious consumers, and a murky rate outlook are real headwinds. The bank maintained its full-year NII guidance of around $50 billion, but investors clearly wanted more.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
