Wells Fargo & Company (NYSE: WFC) stock is in focus on December 15, 2025 as investors balance a strong 2025 rally with a busy set of new headlines spanning analyst price-target hikes, an investment-banking expansion push, workforce and AI-driven efficiency plans, and fresh capital-structure moves.
As of the latest available trade on Monday, WFC was around $92.80, after trading between roughly $92.50 and $94.255 intraday. That range is notably close to the stock’s recent highs, with third-party market data showing a 52-week range roughly in the high-$50s to the mid-$90s. [1]
Below is a complete, publication-ready roundup of today’s (15.12.2025) most relevant Wells Fargo stock news, plus the latest forecasts and analyst views shaping how investors are thinking about WFC into 2026.
What’s new for Wells Fargo stock on December 15, 2025
1) Analyst moves: Evercore lifts its WFC price target
One of the most market-moving, same-day items: Evercore ISI raised its price target on Wells Fargo to $107 from $101 and reiterated an Outperform rating, according to TheFly coverage carried by TipRanks. [2]
While a single target change rarely tells the whole story, it matters because it reinforces the broader narrative that the Street is increasingly modeling upside from a “post-asset-cap” Wells Fargo that can grow more aggressively—especially in fee businesses.
2) “Composite Rating” upgrade adds technical tailwind chatter
Investor’s Business Daily reported Monday that Wells Fargo’s IBD SmartSelect Composite Rating rose to 96 from 94, citing a blend of fundamental and technical measures. [3] IBD also pointed to WFC clearing a widely watched technical “buy point” earlier in the move (while noting the stock is no longer in an “ideal” buy range). [4]
For Google News/Discover readers: this is less about a single indicator and more about the broader point—momentum investors are paying attention as WFC trades near recent highs.
3) Retail strategy spotlight: branch refurbishments aimed at digital lift
A Banking Dive Q&A published today highlights Wells Fargo’s effort to modernize branches—explicitly tying the physical footprint to digital engagement and sales growth.
Key points from the report:
- Wells Fargo plans to renovate branches in Los Angeles, San Francisco, and Atlanta in 2026. [5]
- The bank has about 4,100 branches, and leadership frames the network as a competitive advantage. [6]
- The bank says it has seen higher Net Promoter Scores at refurbished branches and more customer migration to digital/ATM transactions after updates. [7]
This matters for WFC stock because it connects to two investor obsessions: efficiency (moving simple transactions to digital) and revenue mix (using branches to sell higher-value products, including credit cards). Banking Dive notes CEO Charlie Scharf specifically pointed to credit cards as a growth opportunity as the bank pushes forward with fewer constraints. [8]
The biggest “under the hood” driver: Wells Fargo’s investment banking push is accelerating
A Reuters report from December 12 remains one of the most consequential near-term narratives for WFC shares: Wells Fargo is extending a multi-year hiring spree in investment banking and has climbed sharply in the global M&A league tables by volume. [9]
Reuters’ key details:
- Wells Fargo rose to 8th in global M&A by deal volume (from 17th in 2024), using preliminary Dealogic data—its first top-10 appearance since Dealogic began compiling that dataset in 1995. [10]
- Fernando Rivas, CEO of corporate and investment banking, told Reuters the bank expects to continue hiring managing directors and said pipelines are “meaningfully greater” than in recent years. [11]
- Reuters also cited examples of marquee deals and even estimated advisory fees tied to them (via LSEG estimates/data), underscoring that Wells Fargo is increasingly competing for large mandates. [12]
For WFC stock, the market implication is straightforward: more fee-based revenue (investment banking and markets) can help offset pressure points elsewhere (notably net interest income sensitivity to rates and the yield curve). It also signals that Wells Fargo is trying to re-rate from a “repair story” into a more diversified, higher-return franchise.
Efficiency and AI: more job cuts expected, AI rollout to ramp into 2026
On December 9, Reuters reported that CEO Charlie Scharf said Wells Fargo expects additional workforce reductions into next year and higher severance costs in the current quarter, while describing AI as a major lever for reshaping work. [13]
Notable Reuters specifics:
- Scharf said the bank expects to have “less people as we go into next year” even before factoring in AI’s impact. [14]
- He also said AI tools are already showing meaningful productivity improvements in engineering, citing 30%–35% efficiency gains in writing code while headcount hasn’t yet been reduced in that function. [15]
- Reuters reported Wells Fargo had 275,000 employees when Scharf joined in 2019 and a little over 210,000 employees as of September 30, 2025. [16]
This theme isn’t just Wells Fargo-specific; Reuters also reported broader bank-industry commentary that AI is boosting productivity and could ultimately reduce jobs across major U.S. banks. [17]
For investors, this cuts both ways:
- Bullish angle: sustained productivity improvements can lower the long-run cost base and support higher returns.
- Bearish angle: near-term restructuring (severance) is real money, and execution risk rises when a bank simultaneously pushes growth (investment banking, cards) and cost cutting.
Capital structure news: Wells Fargo to redeem floating-rate junior subordinated debentures
On December 12, Wells Fargo announced it will redeem all of its Floating Rate Junior Subordinated Deferrable Interest Debentures due Jan. 15, 2027 on Jan. 15, 2026, paying 100% of principal plus accrued interest. [18]
A key technical detail investors may care about: Wells Fargo said that after redemption, a covenant tied to the debentures will no longer place conditions on the bank’s ability to repurchase or redeem its 3.90% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series BB. [19]
This is not typically a “headline catalyst” like earnings—but it reinforces the larger theme of balance sheet and capital flexibility, which can matter a lot to bank valuations.
What Wells Fargo has guided — and why the market keeps coming back to NII and expenses
The most durable debate around Wells Fargo stock still revolves around two things: net interest income (NII) and noninterest expense.
From Wells Fargo’s third-quarter 2025 materials, the company reiterated:
- 2025 net interest income expected to be roughly in line with 2024 NII of $47.7 billion. [20]
- 4Q25 NII expected to be about $12.4–$12.5 billion. [21]
- 2025 noninterest expense expected to be about $54.6 billion, up from prior guidance of ~$54.2 billion, including higher severance and higher revenue-related compensation. [22]
Why this matters on Dec. 15: the Fed’s rate trajectory is still a critical variable for banks. Reuters reported that New York Fed President John Williams said the Fed’s most recent cut left policy “well positioned” and noted the benchmark rate was cut to a 3.50%–3.75% range on Dec. 10, 2025. [23] Rate cuts can support loan demand and credit in some scenarios, but they can also pressure bank margins depending on deposit pricing and the yield curve.
Wells Fargo stock performance: the rally, the highs, and what it signals
Wells Fargo shares have been strong in 2025. Reuters said WFC was up almost 32% year-to-date as of the December 12 report, slightly ahead of the S&P 500 bank index’s gain. [24] Meanwhile, Yahoo Finance’s display of trailing returns showed mid-30% YTD total return as of Dec. 15 (which can vary based on methodology and dividend inclusion). [25]
MarketWatch also noted that WFC hit a new 52-week high during last week’s run-up, underscoring that the stock’s strength hasn’t been purely “one-day news.” [26]
WFC stock forecast: what Wall Street analysts expect next
The consensus view: price targets cluster around the low-to-mid $90s, but revisions are trending higher
There are two important realities in today’s analyst landscape:
Reality #1: The consensus price target is not dramatically above today’s price.
MarketBeat’s compilation of analyst targets shows an average target around $90.68, which is slightly below where WFC has been trading, with targets spanning roughly the $70s to low $100s. [27]
Reality #2: The direction of changes is what’s notable right now.
In just the past week, multiple firms have been reported raising targets:
- Evercore ISI: raised target to $107 from $101, kept Outperform. [28]
- RBC: reported raising target to $100 from $88, keeping Outperform (via MT Newswires pickup). [29]
- Piper Sandler: reported raising target to $100 from $93, maintaining Overweight (via MT Newswires pickup). [30]
When several shops lift targets in a short period, it often reflects one (or both) of the following:
- the stock has moved and models are being marked higher, and/or
- conviction is rising around a fundamental story (in WFC’s case: growth flexibility after the asset cap, combined with a drive toward higher returns).
Earnings expectations: analysts look for growth into 2026
Yahoo Finance’s analyst estimate table (as displayed on its WFC analysis page) shows analysts modeling:
- 2025 EPS around 6.33 (average estimate), and
- 2026 EPS around 7.03 (average estimate). [31]
Those estimates are ultimately what will determine whether Wells Fargo “earns” a higher valuation multiple—especially if the bank can expand fee income while controlling expenses.
The strategic bull case for Wells Fargo stock heading into 2026
Investors who remain constructive on WFC tend to point to a reinforcing stack of drivers:
A) The post-asset-cap era is real—and it changes the conversation
In June 2025, the Federal Reserve lifted the long-running asset cap, and the Fed framed it as the result of remediation to the required standard (while emphasizing the need for continued strong oversight). [32] Reuters also reported the lift as a major milestone ending a seven-year penalty, enabling unimpeded growth. [33]
Even credit-rating and research voices moved in response: Reuters reported S&P Global shifted its outlook on Wells Fargo to “positive” after the asset cap removal, citing reduced regulatory burden and potential for commercial and investment banking growth. [34]
B) Investment banking and markets growth can diversify earnings
Wells Fargo’s aggressive hiring and improved M&A league-table standing is an attempt to build a steadier, higher-fee revenue mix. [35]
C) A credible path to better returns
Wells Fargo’s third-quarter materials show management continuing to emphasize improving performance and guiding investors on key drivers (NII and expense). [36]
D) Capital return remains part of the DNA
In the Q3 2025 earnings release, Wells Fargo reported it repurchased 74.6 million shares ($6.1 billion) in the quarter, alongside other shareholder-return actions. [37] Earlier in 2025, the company also announced a new $40 billion common stock repurchase program and a quarterly common dividend. [38]
The bear case: what could still go wrong for WFC stock
Even with the stock near highs, several risk buckets still matter:
1) Rate cuts can be a mixed blessing for banks
The Fed has begun cutting (with Reuters citing the 3.50%–3.75% range after the Dec. 10 move). [39] Depending on how deposits reprice and what happens to the yield curve, bank NII can come under pressure—even if credit demand improves.
2) Expense discipline is not optional
Wells Fargo is explicitly expecting higher severance and other expense items, and management has also signaled continued job reductions. [40] The market will want proof that restructuring costs translate into durable efficiency gains—not just one-time charges.
3) “Risk appetite” cycles can swing quickly
A Reuters Breakingviews column earlier this month highlighted rising risk appetite in large financings—an environment that can be profitable but can also turn if credit conditions tighten. [41]
What to watch next for Wells Fargo stock
If you’re tracking WFC into year-end and early 2026, these are the items most likely to drive the next leg (up or down):
- 4Q25 earnings (January 2026 timing): investors will focus on NII trajectory, deposit pricing, credit trends, and any updated guidance.
- Expense execution: how much severance hits and whether management can show clear productivity gains from AI and process simplification. [42]
- Investment banking revenue carryover: whether the improved deal position translates into sustained fee growth beyond a single strong year. [43]
- Capital actions: pace of buybacks, dividend continuity, and any additional balance-sheet optimization after the debenture redemption. [44]
- Branch strategy ROI: whether refurbishment-driven customer satisfaction and digital migration continue—and whether branches become more productive sales engines (cards, advisory, small business). [45]
Bottom line
On December 15, 2025, Wells Fargo stock is being pulled by a set of reinforcing narratives: analysts are lifting price targets, the bank is pushing harder into investment banking, management is leaning into AI and efficiency (even as it flags more job cuts), and capital flexibility remains a theme.
At the same time, the next phase for WFC will be judged less by headlines and more by delivery—particularly on net interest income, expense discipline, and proof that “post-asset-cap” growth translates into sustainably higher returns.
References
1. www.morningstar.com, 2. www.tipranks.com, 3. www.investors.com, 4. www.investors.com, 5. www.bankingdive.com, 6. www.bankingdive.com, 7. www.bankingdive.com, 8. www.bankingdive.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.reuters.com, 15. www.reuters.com, 16. www.reuters.com, 17. www.reuters.com, 18. newsroom.wf.com, 19. newsroom.wf.com, 20. www.wellsfargo.com, 21. www.wellsfargo.com, 22. www.wellsfargo.com, 23. www.reuters.com, 24. www.reuters.com, 25. finance.yahoo.com, 26. www.marketwatch.com, 27. www.marketbeat.com, 28. www.tipranks.com, 29. www.marketscreener.com, 30. www.marketscreener.com, 31. finance.yahoo.com, 32. www.federalreserve.gov, 33. www.reuters.com, 34. www.reuters.com, 35. www.reuters.com, 36. www.wellsfargo.com, 37. www.wellsfargo.com, 38. newsroom.wf.com, 39. www.reuters.com, 40. www.reuters.com, 41. www.breakingviews.com, 42. www.reuters.com, 43. www.reuters.com, 44. newsroom.wf.com, 45. www.bankingdive.com
