NEW YORK, Dec. 27, 2025, 3:36 p.m. ET — Market closed
Wells Fargo & Company (NYSE: WFC) enters the weekend with U.S. equity markets shut and just a handful of trading days left on the 2025 calendar, after a quiet, post-Christmas Friday session that left major indexes only marginally lower on light volume. [1]
For investors tracking Wells Fargo stock into Monday’s open, the setup is a familiar year-end mix: thin liquidity, seasonal “Santa Claus rally” chatter, and a bank stock that has already rallied sharply in 2025—now hovering near recent highs as Wall Street weighs the next catalyst: fourth-quarter earnings in mid-January, ongoing efficiency efforts, and the bank’s push to expand its markets and investment-banking footprint. [2]
Where Wells Fargo stock stands as markets close for the weekend
Wells Fargo shares last sat around $95.26 after the Friday, Dec. 26 close, ending a holiday-thinned session with only a fractional move. [3]
Friday’s broader tape was subdued: Reuters described a “light-volume post-Christmas session” with the Dow, S&P 500, and Nasdaq slipping only slightly, after a strong rally heading into the holiday. “We’re just simply catching our breath,” Carson Group chief market strategist Ryan Detrick told Reuters, pointing to the early days of the Santa Claus rally window. [4]
That backdrop matters for bank stocks like WFC because late-December trading can exaggerate moves—up or down—when liquidity is thin and positioning is being reset into the new year.
The 48-hour headline check: what’s new since Friday
Even with markets closed Saturday, several items from the past 24–48 hours have shaped the conversation around WFC stock:
1) “Valuation check” coverage after a sharp run
A Benzinga note published Friday highlighted how quickly Wells Fargo shares have climbed—citing roughly double-digit gains over the past month and a mid-30% gain over the past year—framing the question investors often ask near highs: whether the stock is starting to look “overvalued” versus fundamentals. [5]
2) Jim Cramer spotlight and recent price-target raises (context for sentiment)
In a widely shared recap of his commentary, CNBC’s Jim Cramer was cited describing “a change in Wells Fargo,” emphasizing the bank’s evolving Wall Street ambitions. The same piece also referenced recent analyst actions earlier in December, including target increases from firms such as Truist and KBW. [6]
3) Institutional-position headlines tied to filings
MarketBeat published filing-based updates indicating certain investment managers adjusted exposure to Wells Fargo, including one report on Canoe Financial LP trimming its stake (dated Dec. 26) and another on Pacer Advisors Inc. increasing its position (dated Dec. 27). While these are backward-looking by nature, they can influence near-term sentiment when a stock is extended. [7]
The bigger fundamental story behind WFC’s 2025 run
Wells Fargo’s re-rating in 2025 has been closely linked to one major structural change: the Federal Reserve’s removal of the long-running $1.95 trillion asset cap in June, a constraint imposed after the bank’s sales-practices scandal. That shift has been widely viewed as reopening growth lanes—particularly in capital-intensive businesses. [8]
Since then, investors have watched for evidence that Wells Fargo can translate newly available balance-sheet flexibility into higher returns—without losing control of costs and risk.
A key strategic catalyst: expanding into options clearing
One of the most discussed initiatives in late December has been Wells Fargo’s plan to enter the options clearing business, a capital- and operations-heavy corner of markets infrastructure dominated by large competitors. Investing.com reported that the bank’s move puts it more directly up against Bank of America and Goldman Sachs, and cited DJ Langis, co-head of equities in Wells Fargo’s global-markets division, saying client conversations suggest “there is a demand in the marketplace” for the service. [9]
For WFC stock, the market takeaway isn’t near-term revenue (this kind of buildout takes time), but rather the signal that Wells Fargo intends to play offense again in businesses that can improve fee mix—especially if the rate environment becomes less supportive of net interest income.
Efficiency and staffing: cost discipline remains part of the thesis
Cost control is also central to the Wells Fargo equity story. Reuters reported earlier this month that CEO Charlie Scharf said the bank expects more workforce reductions heading into 2026 and flagged higher severance expense in the current quarter, with Scharf also discussing a gradual rollout of AI over the next year and beyond. [10]
At the same time, Wells Fargo has been hiring selectively in investment banking to bolster its competitive position. Reuters reported Dec. 12 that the bank planned to extend an investment-banking hiring spree after new recruits and market-share efforts boosted its ranking in mergers and acquisitions. [11]
That push-pull—cutting in some areas while investing in others—is exactly what investors will be looking for in upcoming results: evidence that expense discipline is real, but not achieved by starving growth.
Analyst forecasts and price targets: where Wall Street stands now
Analyst outlooks for Wells Fargo remain broadly constructive, though not unanimous—and after the run-up, the range between “already priced in” and “still upside” has narrowed.
Here are the most cited reference points:
- MarketWatch consensus (as of late December): average recommendation Overweight and an average target price around $97 (27 ratings). [12]
- Truist target raise (mid-December): TheFly reported Truist raised its target to $100 from $90 and kept a Buy rating, citing model updates following management commentary and lifting a longer-dated EPS view. [13]
- Zacks range: Zacks listed a price-target range (low-to-high) spanning roughly $90 to $110, with the average implying only modest upside from recent levels. [14]
- Zacks earnings growth view (via Nasdaq): a Zacks Analyst Blog post cited consensus estimates implying year-over-year earnings growth in both 2025 and 2026. [15]
- High-end targets noted in aggregator summaries: Benzinga’s analyst-ratings page listed a $107 high target from Evercore ISI (dated Dec. 15). [16]
The common thread: targets cluster near the high-$90s to low-$100s. That means Monday’s setup is less about “discovering” bullishness and more about whether WFC can deliver incremental upside catalysts—especially with the stock already near key psychological levels.
The next major catalyst: Q4 earnings date is set
Wells Fargo’s investor-relations page lists Q4 2025 earnings on Jan. 14, 2026, with additional 2026 dates also posted. [17]
Third-party calendars are broadly aligned, with consensus estimates (for example, on Benzinga) pointing to EPS around $1.67 and quarterly revenue estimates in the low $20 billions range (subject to change). [18]
For WFC stock, the key earnings variables typically include:
- Net interest income and guidance (especially if investors expect rate cuts or a changing yield curve)
- Expense trajectory (whether efficiency initiatives show up cleanly)
- Credit quality trends (consumer and commercial—especially real estate sensitivity)
- Fee growth (investment banking, trading, wealth, and the impact of strategic initiatives)
What investors should know before Monday’s open
With the market closed and the next session approaching, here are the practical, high-signal items likely to matter most for Wells Fargo shares when trading resumes:
1) Expect thinner liquidity and sharper reactions into year-end
Reuters underscored that Friday’s session had few catalysts and light participation, a setup that can persist into the final days of the year. [19]
If you trade WFC actively, bid-ask spreads and abrupt moves can be more common in this period.
2) Watch the “deal table” narrative—especially any follow-on details on markets expansion
The options clearing expansion story has become a shorthand for Wells Fargo’s broader markets ambition. Any incremental reporting, hiring disclosures, or management commentary that adds specificity (timelines, target clients, capital implications) can move the stock disproportionately when it’s already near highs. [20]
3) Track analyst note flow and target changes
Recent target raises (e.g., Truist and others) have helped underpin sentiment, but after a big run, it often takes either a fresh round of upgrades or a clear fundamental beat to extend the move. [21]
4) Keep Jan. 14 circled
With the earnings date confirmed on the company’s IR site, Monday’s positioning may increasingly reflect expectations for that report—particularly after the stock’s strong 2025 performance. [22]
Bottom line for Wells Fargo stock heading into Monday
Wells Fargo stock enters the final trading days of 2025 near recent highs after a year defined by a major regulatory turning point (the lifting of the asset cap) and a clear strategic shift toward rebuilding higher-return businesses across markets and investment banking. [23]
But with the shares already elevated and year-end liquidity thin, the next durable leg higher likely depends on execution—especially around expenses, fee momentum, and the next earnings report on Jan. 14. [24]
This article is for informational purposes only and does not constitute investment advice.
References
1. www.reuters.com, 2. www.reuters.com, 3. www.macrotrends.net, 4. www.reuters.com, 5. www.benzinga.com, 6. www.insidermonkey.com, 7. www.marketbeat.com, 8. www.reuters.com, 9. www.investing.com, 10. www.reuters.com, 11. www.reuters.com, 12. www.marketwatch.com, 13. www.tipranks.com, 14. www.zacks.com, 15. www.nasdaq.com, 16. www.benzinga.com, 17. www.wellsfargo.com, 18. www.benzinga.com, 19. www.reuters.com, 20. www.investing.com, 21. www.tipranks.com, 22. www.wellsfargo.com, 23. www.reuters.com, 24. www.wellsfargo.com
