Wells Fargo & Company (WFC)

The past six months have been pivotal for Wells Fargo's stock. In June 2025, the Federal Reserve lifted the $1.95 trillion asset cap, leading to a stock re-rating and a 34% price increase over 12 months. In October 2025, management raised its medium-term return on tangible common equity (ROTCE) targets. As of January 2026, Wells Fargo is reporting its fourth-quarter 2025 earnings, with analysts closely watching Net Interest Income (NII) performance and the 2026 outlook. The stock has recently traded lower due to pre-earnings positioning and broader macro/policy concerns.

The banking industry, including Wells Fargo, experiences seasonal trends in demand for its products and services. Loan demand typically peaks during the spring and summer, driven by the home-buying season, while it is lowest in December, January, and February. Investment services see increased demand in December and early January due to year-end financial planning. These patterns can be influenced by external factors like interest rates and Federal Reserve guidance. Commercial banking operations use asset-based loans to supplement working capital during seasonal shifts.

Wells Fargo & Co. is a multinational financial services company and one of the Big Four Banks in the U.S. It offers a range of banking, investment, and mortgage products and services, including checking and savings accounts, lending, credit cards, and small business loans. The company also provides services in banking, commodities, equities trading, insurance, investment management, private equity, and wealth management. In 2021, Wells Fargo sold its asset management division, now Allspring Global Investments, and serves individuals, businesses, and institutions across various sectors.

Wells Fargo's headquarters are in San Francisco, with executive headquarters in New York City. It serves approximately one in three U.S. households and over 10% of small businesses, with hub offices in major cities. Globally, it operates in 35 countries, serving over 70 million customers, with a presence in Asia Pacific, Canada, Europe, Middle East and Africa, and India and the Philippines. Outside the U.S., Wells Fargo focuses on banking services for large corporate, government, and financial institution clients.

Over the past year, Wells Fargo's brand reputation has seen a significant shift. The lifting of the Federal Reserve's asset cap in June 2025 marked a crucial step in the bank's efforts to move past its previous scandals and improve its public image. Despite this progress, challenges and criticisms persist, including concerns from Senator Elizabeth Warren and investigations into anti-money laundering practice deficiencies. Concerns remain about the potential for the aggressive growth culture that led to past scandals to resurface. Additionally, in December 2025, Wells Fargo employees voted to unionize amidst claims of intimidation tactics.

Wells Fargo is publicly owned, with institutional investors holding approximately 79% to 80% of its shares. The largest institutional shareholders include Vanguard Group Inc., BlackRock, Inc., and Fmr Llc. Individual insider ownership accounts for less than 1% of the company's shares. Key individual insider shareholders included CEO Charles Scharf and CFO Michael Santomassimo as of April 2025.