Wells Fargo & Company (NYSE: WFC) ended Thursday’s session in the red even as U.S. stocks broadly climbed, then traded modestly lower in extended hours—setting up a potentially headline-driven Friday open as investors digest fresh inflation signals, shifting rate expectations, and a busy calendar of economic catalysts.
Wells Fargo shares closed at $91.48 on Thursday, Dec. 18, down 1.20% on the day. In after-hours trading, WFC was around $91.30 (down ~0.20% from the close) at last check. [1]
WFC after the bell: the numbers investors are watching tonight
Here are the key data points framing Wells Fargo stock after the market close:
- Close (Thu, Dec. 18): $91.48 (–1.20%) [2]
- After-hours: about $91.30 (down ~0.20% vs. the close, as of the posted update) [3]
- Day range: roughly $91.28 to $93.89 (early strength faded into a late-session selloff) [4]
- Volume: about 11.8 million shares, notably below the 50‑day average cited by MarketWatch [5]
- 52-week context: WFC is about 2.95% below its 52‑week high of $94.26 set earlier this week [6]
While after-hours moves can look dramatic on a small number of trades, tonight’s action reads as “slightly softer, not a trend break”—with the bigger debate likely to be about rates, macro data, and Friday’s derivatives expiration dynamics.
Why Wells Fargo stock underperformed even as the market rose
The headline that stood out on Thursday: WFC fell while the major indexes finished higher.
- The S&P 500 rose 0.79% and the Dow gained 0.14% on the day, according to MarketWatch’s closing recap. [7]
- A separate market wrap noted the Nasdaq jumped 1.38%, highlighting that the session’s leadership skewed more “growth/tech” than “financials.” [8]
For bank stocks like Wells Fargo, that mix can matter. When the market is pricing in faster or deeper Federal Reserve rate cuts, Treasury yields can fall and the yield curve can flatten—often raising concerns about net interest income (the spread banks earn between what they collect on loans and what they pay on deposits). That rate sensitivity can cause money-center banks to lag on days when investors rotate toward rate-sensitive growth names.
Today’s WFC analyst actions: Truist turns more bullish, Baird stays cautious
Even with the down day in the stock, analyst commentary on Wells Fargo wasn’t uniformly negative—if anything, the day included a clear split between bullish and more neutral takes.
Truist lifts Wells Fargo price target to $100
A The Fly note distributed via TipRanks said Truist increased its price target on Wells Fargo to $100 from $90 and kept a Buy rating. Truist also cited improved longer-term earnings expectations (including a higher FY2027 EPS view) and pointed to potential buyback capacity later in the cycle. [9]
What that means for investors: A raised target on a down day can help explain why the pullback looked more like “profit-taking near highs” than a sudden re-rating of the story.
Baird nudges target higher but keeps a Neutral view
MarketScreener reported that Baird adjusted its price target to $90 from $84 while maintaining a Neutral rating. [10]
Investor takeaway: When one firm moves targets higher but keeps a neutral stance, it can signal valuation caution—i.e., analysts may acknowledge improved fundamentals or market conditions while still seeing limited near-term upside at current prices.
Where consensus targets sit
According to MarketWatch’s analyst snapshot, Wells Fargo’s average price target is around $97 and the consensus stance is Overweight. [11]
MarketScreener similarly showed an average target in the high-$90s, with a wide range between more bearish and more bullish views. [12]
The macro driver today: CPI surprises lower, but the data comes with a big caveat
A major reason Thursday’s tape felt unusual is that U.S. inflation data looked cooler than expected, but the market is debating how “clean” the signal really is.
Reuters reported that November CPI rose 2.7% year over year and core CPI rose 2.6%, both below forecasts. Reuters also stressed the unusual backdrop: a 43‑day government shutdown disrupted data collection and even led the BLS to cancel October CPI and other key releases. [13]
That combination—cooler inflation prints + questions about data quality—is exactly the kind of setup that can move rate expectations quickly, and banks often trade as a “macro derivative” of where the market thinks the Fed is going next.
Fed-chair politics enters the rate narrative
Adding another layer to the “rates story,” Reuters reported that President Donald Trump said he interviewed Fed Governor Christopher Waller as a potential candidate for Fed chair and praised him publicly. [14]
Reuters also reported Trump saying the next Fed chair will be someone who believes in significantly lower interest rates, a comment markets will parse through the lens of Fed independence and long-term rate expectations. [15]
Why this matters for WFC: any development that changes the market’s view on the speed and depth of future rate cuts can ripple into bank stocks via expectations for lending growth, credit quality, and margin pressure.
What to know before the stock market opens Friday (Dec. 19, 2025)
Friday’s session has several “known unknowns.” Here’s the checklist most relevant to Wells Fargo shareholders and anyone watching WFC premarket.
1) Watch rates first: Treasury yields and the curve
For Wells Fargo, the most important premarket screen often isn’t the stock itself—it’s the 10‑year yield and the 2s/10s curve. If bond markets extend Thursday’s move and yields fall again, banks may stay under pressure even if the broader market is green.
2) Key U.S. data due Friday: income, inflation gauge (PCE), and housing
The Bureau of Economic Analysis (BEA) lists Personal Income and Outlays (November 2025) scheduled for Friday, Dec. 19 at 10:00 AM ET. [16]
That release is important because it typically includes the PCE inflation measures the Fed watches closely. If PCE comes in hot (or if revisions surprise), it can quickly reverse Thursday’s “cut-friendly” narrative.
On housing—directly relevant for big mortgage lenders and consumer banks—Scotiabank’s daily calendar highlights Existing Home Sales (10:00 AM ET) and University of Michigan Consumer Sentiment (final, 10:00 AM ET). [17]
3) Fed speakers: potential volatility catalysts
MarketWatch’s economic calendar preview indicates New York Fed President John Williams is among the listed Fed speakers on Friday morning. [18]
Even if remarks are not explicitly about policy, markets often react to any hints about inflation risk, labor market slack, or comfort with additional easing.
4) Friday is “quadruple witching” — expect higher volume and late-day swings
Friday, Dec. 19, 2025 is the quarterly “quadruple witching” date—when multiple major derivatives contracts expire on the same day. Investopedia lists Dec. 19, 2025 as the December quadruple witching date and explains why these sessions can see higher volume and volatility. [19]
For WFC specifically, that can matter because:
- financials tend to be widely held in index and sector products, and
- large option positioning can create “pinning” effects near popular strikes late in the day.
5) Technical levels: the two prices WFC traders will talk about most
Even long-term investors should know the “headline levels,” because they influence how media frames the stock:
- $94.26: this week’s 52‑week high (a near-term resistance reference) [20]
- $90: a round-number level that often acts as a psychological support zone (and a common strike area in options markets)
What’s next for Wells Fargo: the next major catalyst is earnings
If there’s no surprise company news overnight, the next big single-stock event on the calendar is earnings.
Wells Fargo’s newsroom announcement lists Q4 2025 earnings on Jan. 14, 2026 (before market open). [21]
Between now and then, investors will likely focus on:
- the path of U.S. rates (and what that means for net interest income),
- credit conditions into year-end, and
- any incremental updates on expense discipline and capital return.
Bottom line for WFC after hours: a down day, but the story shifts to Friday’s macro tape
Wells Fargo stock closed Thursday at $91.48 and dipped modestly in after-hours trading. [22]
The bigger driver into Friday isn’t an obvious company-specific headline—it’s the crosscurrent of:
- a cooler CPI print (with shutdown-related caveats), [23]
- shifting expectations for Fed policy, plus Fed-chair politics entering the conversation, [24]
- and a potentially volatile setup with quadruple witching and multiple key data releases on deck. [25]
References
1. www.marketwatch.com, 2. www.marketwatch.com, 3. nz.finance.yahoo.com, 4. markets.financialcontent.com, 5. www.marketwatch.com, 6. www.marketwatch.com, 7. www.marketwatch.com, 8. www.nasdaq.com, 9. www.tipranks.com, 10. www.marketscreener.com, 11. www.marketwatch.com, 12. www.marketscreener.com, 13. www.reuters.com, 14. www.reuters.com, 15. www.reuters.com, 16. www.bea.gov, 17. www.scotiabank.com, 18. www.marketwatch.com, 19. www.investopedia.com, 20. www.marketwatch.com, 21. newsroom.wf.com, 22. www.marketwatch.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.investopedia.com
