Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Consumer Banking and Lending segment offers diversified financial products and services for consumers and small businesses. Its financial products and services include checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. The Commercial Banking segment provides financial solutions to private, family owned, and certain public companies. Its products and services include banking and credit products across various industry sectors and municipalities, secured lending and lease products, and treasury management services. The Corporate and Investment Banking segment offers a suite of capital markets, banking, and financial products and services, such as corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services to corporate, commercial real estate, government, and institutional clients. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary products and services to affluent, high-net worth, and ultra-high-net worth clients. It also operates through financial advisors in brokerage and wealth offices, consumer bank branches, independent offices, and digitally through WellsTrade and Intuitive Investor. The company was founded in 1852 and is headquartered in San Francisco, California.

Wells Fargo демонстрирует смешанную фундаментальную картину. С одной стороны, компания имеет сильные показатели по EPS и чистой прибыли, значительно превышающие медиану по отрасли, что указывает на высокую эффективность и прибыльность. Однако, с другой стороны, мультипликаторы, такие как P/E и P/B, находятся выше медианных значений, что может свидетельствовать о переоцененности акций. Долговая нагрузка компании также вызывает опасения, так как коэффициент долга к капиталу значительно выше медианы отрасли, что увеличивает финансовые риски. Дивидендная доходность хотя и ниже, но остается стабильной, что является положительным фактором. В то же время, недостаточная ликвидность, отраженная в низком текущем коэффициенте и отсутствии свободного денежного потока, также может негативно сказаться на финансовой устойчивости. В целом, сильные показатели прибыли компенсируются высокими мультипликаторами и долговой нагрузкой, что делает текущую оценку компании более осторожной.

Wells Fargo & Company

Key Points
ATV maker Polaris beat analyst forecasts this week -- but still lost a lot of money.
2026 sales could flatline, but a new business manufacturing ground drones with Forterra might reignite sales growth.
This week was a good week to own Polaris (NYSE: PII) stock -- and the next 52 weeks could be even better.
The manufacturer of everything from snowmobiles to motorcycles to all-terrain vehicles to boats reported first-quarter earnings on Tuesday, you see, crushing analyst forecasts and reporting a $0.13-per-share profit where Wall Street expected a loss of $0.40. Quarterly sales exceeded expectations as well, growing 8% year over year to $1.7 billion, and Polaris expanded its gross profit margin by 420 basis points to 20.2%.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Wall Street reacts
Analysts praised the results, and no fewer than six separate analysts raised their price targets on Polaris stock to between $60 a share (the most pessimistic, Wells Fargo) and $74 a share (the most optimistic -- Bank of America). Curiously, though, almost all of these analysts (the exception being Raymond James) maintained only neutral or hold ratings on Polaris stock.
The news might have been good enough to win some price target hikes -- but it wasn't good enough to convince most analysts to buy Polaris stock.
Why not?
The trouble with Polaris
Two factors may explain this. First and foremost, while Polaris "beat earnings" and reported positive non-GAAP (adjusted) profits, its actual earnings per share calculated under generally accepted accounting principles (GAAP) showed an $0.83-per-share loss for the quarter.
Second and related, Polaris guided investors to expect essentially zero sales growth through the end of this year. Sales are expected to be about $7.2 billion in 2026 -- the same as in 2025. For Polaris to win higher ratings from Wall Street and more investor support, it seems the company must find a way to grow its sales faster.
Fortunately, Polaris may have a plan for that -- and it comes from an unexpected direction.
Uncle Sam wants Polaris
Earlier this week, Maryland-based defense start-up Forterra unveiled the new Mesa Autonomous Ground Vehicle (essentially a drone truck, rather than a drone aircraft) that it's developing for the U.S. Army -- with help from Polaris.
Guided by software and capable of maneuvering autonomously even in areas where GPS signals are jammed, Mesa, according to Forterra, is based on a "factory modified Polaris Ranger XD 1500 all-terrain vehicle."
Although the photo Forterra provided shows Mesa to be about twice as long as a base Ranger XD 1500, Forterra explains that Mesa is "built in direct partnership with Polaris" and that "every vehicle comes off the same market-leading production line that delivers" Polaris's other vehicles.
Translation: Forterra is working with Polaris to build this new military robot. The more successful Forterra is in selling it, the more it will directly benefit Polaris through improved sales and (ideally) a return to positive profits.
Keep an eye on Forterra
As for Polaris's partner in this venture, investors might also want to keep a close eye on Forterra, which is starting to seem like a real up-and-comer (even if most people have never heard of it).
Defense website Tectonic calls Forterra "a giant in the ground autonomy game" and earning praise for its AutoDrive vehicle autonomy system, which includes all the hardware, software, and sensors necessary to convert essentially any existing vehicle into an autonomous ground drone. In addition to Polaris, Forterra has also teamed up with big-league defense contractors such as BAE Systems, General Dynamics, Oshkosh, and Rheinmetall in Germany to produce autonomous ground vehicles.
The company also recently hit unicorn status, raising hundreds of millions in venture capital financing and achieving a private market valuation of $1.1 billion. With any luck, an initial public offering may not be too far off.
Should you buy stock in Polaris right now?
Before you buy stock in Polaris, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Polaris wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $496,473!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,216,605!*
Now, it’s worth noting Stock Advisor’s total average return is 968% — a market-crushing outperformance compared to 202% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 3, 2026.
Bank of America is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends BAE Systems. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Did Polaris Just Turn Into a Drone Stock?

Key Points
Despite top and bottom-line declines, market players were impressed with the company's recent news.
Its CEO announced it had secured a notable data center client.
Qualcomm (NASDAQ: QCOM) stock has indisputably been an investor darling over the past few days. Largely on the strength of an encouraging second quarter, the results of which were published on Wednesday, market players were eager to get their hands on the company's equity.
By the time early Friday afternoon rolled around, Qualcomm had risen almost 18% week to date, according to data compiled by S&P Global Market Intelligence.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Fundamental beats and price target raises
Qualcomm's headline figures for the quarter actually slumped year over year. Revenue fell by 2% to $10.6 billion, while net income not under generally accepted accounting principles (GAAP) declined by 10% to $2.84 billion ($2.65 per share).
Both results compare favorably with the average analyst estimates, which were $10.56 billion in revenue and $2.55 per share for adjusted net income.
The telecom equipment specialist particularly impressed a clutch of those researchers, who wasted little time raising their price targets on the stock. Among these were some top names in the financial sector, such as Wells Fargo, JPMorgan Chase unit J.P. Morgan, and Morgan Stanley.
This, however, didn't necessarily mean those analysts were bullish on Qualcomm's future.
J.P. Morgan's Samik Chatterjee added $20 per share to his price target for a new level of $160, but maintained his neutral recommendation. The dynamic was similar to Wells Fargo's Aaron Rakers, who hiked his price target from $150 to $160 but kept his equal weight (i.e., neutral) tag intact.
Finally, Morgan Stanley's Joseph Moore didn't budge from his underweight (sell) opinion, but raised his price target to $146 per share from $132.
A hot business niche
Investors basically ignored these to concentrate on management's pronouncements about Qualcomm's data center chip business. CEO Chrisiano Amon revealed that the company had secured an unnamed "leading hyperscaler" as a customer for such work, with shipments to begin in December.
To me, that isn't enough to juice enthusiasm for the company. However, if that business takes off -- and we finally learn who this important client is -- the prospects for its future could burn brighter.
Should you buy stock in Qualcomm right now?
Before you buy stock in Qualcomm, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Qualcomm wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $504,832!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,223,471!*
Now, it’s worth noting Stock Advisor’s total average return is 971% — a market-crushing outperformance compared to 202% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 1, 2026.
Wells Fargo is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and Qualcomm. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Qualcomm Stock Was Crushing it This Week

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI World ETF (Symbol: URTH) where we have detected an approximate $294.8 million dollar inflow -- that's a 3.6% increase week over week in outstanding units (from 41,100,000 to 42,600,000). Among the largest underlying components of URTH, in trading today UnitedHealth Group Inc (Symbol: UNH) is off about 0.5%, Merck & Co Inc (Symbol: MRK) is up about 4.2%, and Wells Fargo & Co (Symbol: WFC) is lower by about 0.2%. For a complete list of holdings, visit the URTH Holdings page » The chart below shows the one year price performance of URTH, versus its 200 day moving average:
Looking at the chart above, URTH's low point in its 52 week range is $155.05 per share, with $197.88 as the 52 week high point — that compares with a last trade of $197.88. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Never miss the next high-yield opportunity: Preferred Stock Alerts sends timely, actionable picks on income-producing preferred stocks and baby bonds, straight to your inbox.
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Canadian Stocks Going Ex-Dividend
CDR Split History
Healthcare Stocks Hedge Funds Are Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

URTH, UNH, MRK, WFC: ETF Inflow Alert

Key Points
Private credit is a broad category encompassing various lenders and lending structures.
Private credit funds have seen high investor redemptions, and publicly traded private credit stocks have fallen amid concerns about the struggling software sector.
Some investors are concerned that private credit could pose systemic risk.
Private credit has certainly been a buzzword this year, as the multitrillion-dollar industry has shown cracks in credit quality, and investors fret that problems in the sector could lead to broader market risks.
One area that has come under some scrutiny is the traditional banking system. The industry has ceded market share to private credit due to burdensome regulations stemming from the Great Recession, yet it still lends to various players in private credit. Investors wonder what will happen if private credit lenders encounter problems. Will that spill over into the banking sector?
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
After first-quarter earnings, the largest banks in the country provided some disclosures about private credit. Here's how much exposure JPMorgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC), and Citigroup (NYSE: C) have.
Understanding what private credit is and where the problems are
Private credit is a broad term, but at its core, it's non-bank lending from a variety of players, including asset managers, insurers, private equity firms, and business development corporations (BDCs).
It's grown popular as banks have slowed lending to a wide array of businesses since the Great Recession and as these lenders have offered more customized products. The returns private credit has generated have also been very attractive to investors.
But the key here is to understand that the term private credit is incredibly broad. For instance, there's warehouse lending, in which a company loans capital to another company that is originating various types of consumer loans, such as mortgages, student loans, and auto loans.
Consumer loans are pooled and typically serve as collateral for a warehouse loan. Other forms of private credit include financial companies borrowing from one another and private equity firms borrowing short term while waiting for funding from their limited partners.
But the area of private credit that is under the most scrutiny right now is direct lending. This is where an asset manager, private equity firm, or BDC makes a direct loan to a company. Many, although certainly not all, of these loans will have a senior position in the capital structure and floating interest rates. Banks may provide a warehouse credit line to firms making these direct loans, known as corporate debt financing or private credit warehouse financing.
Private credit has come under scrutiny because it operates outside the banking system, making it difficult for regulators to get a complete picture of what is happening. Private credit has faced even more intense scrutiny this year because many of these direct loans were made to software companies.
Software stocks have been crushed during the past year amid concerns about artificial intelligence. This has investors worried that these loans will go bad, potentially damaging private credit and, in theory, anyone else lending to or investing in private credit firms. That's why many private credit funds have received high redemption requests from investors.
Exposure at the big banks
Given all the focus on private credit, the large banks each provided some insight into their exposure to private credit, including overall exposure to non-bank financial loans (NBFI), lending in the corporate debt financing (CDF) sector, and some disclosure on loans to BDCs, which are under heightened scrutiny right now.
According to a JPMorgan Chase research note from February, a fifth of BDC portfolios are exposed to software, which is more exposure than in the syndicated loan and junk bond markets.
Here's a breakdown of where each bank stands on the metrics listed above (numbers are in millions):
Bank
NBFI Loans
NBFI % Total Loans
CDF Loans
CDF % Total Loans
BDC Loans
BDC % Total Loans
JPMorgan Chase
160,000
10.6%
50,000
3.3%
?
?
Bank of America
180,000
14.9%
55,000
4.6%
<2,000
0.2%
Wells Fargo
193,000
19%
36,200
3.6%
8,326
0.8%
Citigroup
118,000
16.8%
22,000
3.1%
<1,180
0.2%
As you can see from the data above, although banks have meaningful lending exposure to non-banks that extend credit, their exposure to corporate private credit extending direct loans to private companies is less 5% across all banks. The amount to BDCs is less than 1%. Although JPMorgan didn't disclose exact BDC exposure, it's hard to imagine it being significantly higher than peers', based on its other disclosures.
Most bank management teams expressed confidence in their underwriting. As I mentioned above, many direct private credit loans hold a senior position in the company's capital stack. That's why some investors have previously described private credit as having equity-like returns with bond-like protection.
The loans are high-yielding, often more than 10%, while their senior position means lenders are higher in line to be repaid if a company defaults on its debt. Banks making loans in this niche are also likely to have their own protections in place, adding another layer of safety.
"Bank of America's exposure has structural insulation from those first loss positions," the bank's chief financial officer, Alastair Borthwick, said on the company's first-quarterearnings call when discussing private credit. "For losses to reach us, we believe operating company equity and a substantial portion of fund investor capital would need to be impaired before we would experience losses."
Private credit concerns are real, but likely not systemic
Banks do have some exposure to the sector, and therefore could face issues down the line. Earlier this year, JPMorgan Chase reportedly marked down some of its private credit loans. Of its $36 billion corporate debt portfolio, Wells Fargo disclosed that 17% of its collateral has software exposure.
However, the large banks seem more conservative, lending to higher-quality investment-grade entities. Citigroup said its $22 billion in corporate private credit loans have incurred no losses over the life of the portfolio. Wells Fargo also said its NBFI portfolio has had virtually no losses for a long time.
Private credit has already seen some cracks, and conditions could continue to deteriorate. But even if they do, as JPMorgan Chase Chief Executive Officer Jamie Dimon said in his letter to shareholders earlier this year, "private credit probably does not present a systemic risk."
Ultimately, I do think investors should keep their guard up when it comes to private credit. But they don't need to have flashbacks to the financial crisis. Furthermore, the large banks appear to have prudently underwritten their exposure and should be able to deal with any problems that arise.
Should you buy stock in JPMorgan Chase right now?
Before you buy stock in JPMorgan Chase, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and JPMorgan Chase wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $496,797!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,282,815!*
Now, it’s worth noting Stock Advisor’s total average return is 979% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 1, 2026.
Bank of America is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Here's How Much Exposure JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup Have to Private Credit

Key Points
The advent of new technologies is changing the banking industry.
One name in particular has proven it's found the right formula for winning new customers.
The response to this fintech name's recent earnings report was decidedly bearish, but this stumble only adds to its long-term upside potential.
For decades, big banks like Wells Fargo (NYSE: WFC), and Bank of America (NYSE: BAC), were solid investments. And they still are. Although none of them are ever going to be high-growth holdings, the world always needs an efficient way of borrowing and saving money. Banks provide exactly that.
As is the case with so many other industries, however, technology is changing this one. Consumers and corporations alike now expect the convenience and flexibility that only technology can facilitate.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
With that as the backdrop, investors looking for a new holding in the financial sector would be wise to consider taking a stake in one of the few banks being built from the ground up to take full advantage of newer technologies. That's SoFi Technologies (NASDAQ: SOFI). Here's a closer look.
What's SoFi Technologies?
It's not exactly a household name -- at least not yet. As of the end of last year it was only serving 13.7 million customers. Its $53.6 billion in assets pales in comparison to Bank of America's $2.6 trillion.
Current size doesn't indicate future growth potential, though, and SoFi is proving it's got plenty of that.
Launched in 2011 as a means of helping borrowers get a handle on their student loans, it's since evolved into so much more. It was officially granted its charter to be a national bank in early 2022, and now offers everything you'd expect from a bank, like checking accounts, loans, credit cards, and brokerage services, just to name a few.
More importantly for interested investors, SoFi's customer headcount has rapidly grown in step with the ongoing expansion of its offerings, from a little more than 1 million customers in early 2020 to 14.7 million now.
What gives? It's just a sign of the times. With the advent of the internet in the 1990s followed by the proliferation of mobile broadband and smartphones beginning in the 2000s, consumers are increasingly embracing online and mobile self-service options, even with businesses like banking that have traditionally been built around in-person relationships.
SoFi doesn't just offer online banking, though. It's only an online bank -- no brick-and-mortar branches -- built from the ground up to serve the market without being held back by a legacy business and physical assets that still need to be maintained.
Exactly what consumers want
And make no mistake. This is very much the new norm for this ancient business, even for a segment of consumers you might not expect.
It comes as no real surprise that the American Bankers Association's most recent survey of 4,403 of the nation's bank customers indicates that roughly two-thirds of millennials and Gen Z prefer a mobile app to handle banking. This 45-and-under crowd is comfortable with computers, after all, as well as the mini-computers they carry around in their pockets. Indeed, the 30-and-under Gen Z crowd probably doesn't remember a time without smartphones, let alone high-speed internet.
What's curious (underscoring just how normalized internet banking has become) is the degree to which so many non-digitally native consumers are also embracing self-service banking tech. More than half of Generation X first and foremost uses a mobile banking app to take care of banking matters, and for the first time ever, as of last year, mobile apps have dethroned internet-connected computers as the means by which baby boomers (aged 62 to 80) did most of their banking.
At the other end of the spectrum, only about 12% of baby boomers still prefer to visit a branch in person to handle banking business, even though this is what they had done for the majority of their lives.
As all of these groups age and new generations that are even more digitally and mobile-native are introduced, look for SoFi to expand its asset base even faster than it's growing its user base. This potential expansion is why Cognitive Market Research expects North America's neobanking industry to grow at an average annual pace of more than 46% through 2031, consistent with an outlook from Straits Research.
And for what it's worth, that's nearly the pace at which SoFi's top line improved last year, and in its recently reported first quarter, when revenue rose 41% year over year. It's already catching this long-term tailwind.
Plenty to like, even if the market doesn't see it right now
Most traditional banks also offer a healthy lineup of online and mobile banking options these days, for the record. It's not as if SoFi can simply exist and expect to continue winning new business. Like any other outfit, it must compete to produce growth.
It's clearly doing something right, however. Last quarter's top-line growth of 41% and subsequent earnings before interest, taxes, depreciation, and amortization (EBITDA) growth of 62% says as much. So does the fact that Forbes magazine recently named SoFi the U.S.'s No. 1 bank for 2026, marking the fourth consecutive year the company's received the accolade. (It's also the Motley Fool's best digital-only bank for 2025, by the way.) Offering superior service, features, and flexibility is what produces fiscal results that are eventually reflected in the stock's price.
SoFi, however, has underperformed in recent months and it stumbled on Wednesday in response to Q1 earnings and full-year projections that merely met average analyst estimates. But while the shares have lagged since November, the analyst community forecasts a stock price of $23.58 per share -- about 45% more than the recent market price.
Should you buy stock in SoFi Technologies right now?
Before you buy stock in SoFi Technologies, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SoFi Technologies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $496,797!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,282,815!*
Now, it’s worth noting Stock Advisor’s total average return is 979% — a market-crushing outperformance compared to 200% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of May 1, 2026.
Bank of America is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. James Brumley has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should You Forget Big Banks and Bet on Fintech Instead?

The NASDAQ 100 After Hours Indicator is down -46.83 to 27,140.15. The total After hours volume is currently 123,882,886 shares traded.
The following are the most active stocks for the after hours session:
NVIDIA Corporation (NVDA) is -0.2499 at $209.01, with 4,952,801 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Walmart Inc. (WMT) is -0.02 at $127.99, with 4,930,628 shares traded. As reported by Zacks, the current mean recommendation for WMT is in the "buy range".
Apple Inc. (AAPL) is unchanged at $270.17, with 4,189,325 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2026. The consensus EPS forecast is $1.92. AAPL is scheduled to provide an earnings report on 4/30/2026, for the fiscal quarter ending Mar2026. The consensus earnings per share forecast is 1.92 per share, which represents a 165 percent increase over the EPS one Year Ago
Pfizer, Inc. (PFE) is +0.0226 at $26.28, with 4,143,914 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2026. The consensus EPS forecast is $0.68. PFE is scheduled to provide an earnings report on 5/5/2026, for the fiscal quarter ending Mar2026. The consensus earnings per share forecast is 0.74 per share, which represents a 92 percent increase over the EPS one Year Ago
Amazon.com, Inc. (AMZN) is -0.6123 at $262.43, with 3,998,635 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2026. The consensus EPS forecast is $1.96. Smarter Analyst Reports: Amazon Expects FTC’s Verdict on MGM Acquisition by Mid-March: Report
Wells Fargo & Company (WFC) is unchanged at $81.51, with 3,658,956 shares traded. Over the last four weeks they have had 4 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2026. The consensus EPS forecast is $1.85. As reported by Zacks, the current mean recommendation for WFC is in the "buy range".
Intel Corporation (INTC) is -0.08 at $94.67, with 3,513,061 shares traded. Over the last four weeks they have had 10 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2026. The consensus EPS forecast is $0.1. , following a 52-week high recorded in today's regular session.
Nokia Corporation (NOK) is +0.02 at $12.48, with 3,203,503 shares traded., following a 52-week high recorded in today's regular session.
Cleveland-Cliffs Inc. (CLF) is +0.07 at $10.32, with 2,939,365 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2026. The consensus EPS forecast is $0.08. CLF's current last sale is 103.2% of the target price of $10.
EchoStar Corporation (SATS) is unchanged at $119.78, with 2,741,098 shares traded. As reported by Zacks, the current mean recommendation for SATS is in the "buy range".
Coca-Cola Company (The) (KO) is unchanged at $78.87, with 2,565,312 shares traded. As reported by Zacks, the current mean recommendation for KO is in the "buy range".
VICI Properties Inc. (VICI) is +0.12 at $28.72, with 2,233,899 shares traded. As reported by Zacks, the current mean recommendation for VICI is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After Hours Most Active for Apr 29, 2026 : NVDA, WMT, AAPL, PFE, AMZN, WFC, INTC, NOK, CLF, SATS, KO, VICI

Honeywell today announced that its Board of Directors has declared a quarterly dividend payment of $1.19 per share on the Company's common stock. The dividend is payable on June 5, 2026, out of surplus to holders of record at the close of business on May 15, 2026.
Energizer Holdings announced that its Board of Directors declared a dividend on its common stock of $0.30 per share. The dividend will be payable on June 10, 2026, to shareholders of record as of the close of business on May 20, 2026.
The Board of Directors of Stepan has declared a quarterly cash dividend on the Company's common stock of $0.395 per share. The dividend is payable on June 15, 2026, to common stockholders of record on June 1, 2026. The Company increased its quarterly cash dividend in the fourth quarter of 2025 by $0.010 per share, marking the 58th consecutive year that the Company has increased its cash dividend to stockholders.
Cheniere Energy today announced that its Board of Directors has declared a quarterly cash dividend of $0.555 per common share payable on May 19, 2026 to shareholders of record as of the close of business on May 11, 2026.
Wells Fargo today announced its board of directors approved a quarterly common stock dividend of $0.45 per share, payable June 1, 2026, to stockholders of record on May 8, 2026.
Williams' board of directors has approved a regular dividend of $0.525 per share, or $2.10 annualized, on the company's common stock, payable on June 29, 2026, to holders of record at the close of business on June 12, 2026. This is a 5% increase from Williams' 2025 quarterly dividend of $0.50 per share. Williams has paid a common stock dividend every quarter since 1974.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Daily Dividend Report: HON,ENR,SCL,LNG,WFC,WMB

Citigroup, Inc. C and Wells Fargo & Company WFC stand as two of the most influential players in the U.S. banking sector, each navigating a pivotal phase, shaped by strategic transformation and shifting economic conditions. While Citigroup is approaching the final stretch of its multi-year restructuring, aimed at streamlining operations and unlocking growth, Wells Fargo is capitalizing on renewed flexibility following the removal of long-standing regulatory constraints.
As both banks position themselves for the next leg of expansion, a closer look at their strategies, earnings outlooks and valuation trends offers valuable insight into which stock may present the more compelling investment opportunity today.
C & WFC: 2 Banking Giants, 2 Strategies
Citigroup and Wells Fargo are taking different approaches to strengthen their operations and unlock growth opportunities.
C has been betting on leaner, streamlined operations. The company is emphasizing growth in core businesses through restructuring operations internationally. In April 2021, Citigroup announced the plan to exit the consumer banking business in 14 markets across Asia and EMEA. During the first-quarter 2026earnings call management stated that the company entered the final phase of its divestitures, and 90% of the transformation programs were at or near the target.
In February 2026, Citigroup completed the sale of its Russia-based banking subsidiary, AO Citibank, to Renaissance Capital. The sale of AO Citibank strengthens the company’s capital position and streamlines its balance sheet. In the same month, C announced agreements with several investors for commitments to purchase an aggregate 24% equity stake in Grupo Financiero Banamex, S.A. de C.V (Banamex), following the divestiture of 25% stake in Banamex to a Mexican business leader in December 2025.
The company is now preparing for a planned initial public offering of its Mexican consumer, and small and middle-market banking units. As part of its strategy, Citigroup continues to make progress with the wind-down of its Korea consumer banking operations. These initiatives will free up capital and help the company pursue investments in wealth management and IB operations, which will stoke fee income growth.
Supported by these initiatives, Citigroup expects revenues to see a 4-5% compound annual growth rate (CAGR) through 2026.
Conversely, Wells Fargo has been exiting non-core, lower-return businesses to sharpen its focus on consumer banking, commercial lending and other high-return areas. Under CEO Charlie Scharf since 2019, the strategy targets up to $10 billion in annual cost cuts and capital reallocation to core franchises. In line with this effort, in January 2026, WFC sold its rail lease portfolio to a GATX-Brookfield joint venture.
Wells Fargo reached a milestone in June 2025 when the Federal Reserve lifted the asset cap imposed in 2018 following the bank’s fake account scandal. The removal eliminates a long-standing constraint on balance-sheet expansion, allowing the company to grow deposits, increase loan balances and expand securities holdings, thereby unlocking its full operating potential. With greater strategic flexibility and improved earnings visibility, WFC’s expects its medium-term return on tangible common equity to be 17-18%, indicating stronger profitability prospects over the next few years.
Citigroup vs. Wells Fargo: 2 Banks, 1 Fed Pivot
Following the initial easing in 2024 and three subsequent rate cuts in 2025, the Federal Reserve has kept interest rates steady so far in 2026. Also, the Fed has indicated one additional rate cut this year. Lower rates support net interest income (NII) growth, a critical earnings driver for banks like WFC and C, as funding pressure eases.
While lower benchmark rates can compress yields on loans and securities, improving the lending backdrop and higher refinancing will help offset this. Also, relatively lower rates will increase borrowing and boost market liquidity, driving higher deal volumes and trading opportunities. This will support investment banking (IB) and trading businesses for both companies.
In 2025, Citigroup’s NII rose 11% year over year in 2025. Meanwhile, Wells Fargo’s NII grew marginally year over year. In first-quarter 2026, C’s NII, excluding Markets, rose 7%. Conversely, WFC’s NII rose 5.2%.
Wells Fargo expects 2026 NII to be $50 billion, up from $47.8 billion in 2025. This outlook is supported by balance-sheet growth, a favorable loan and deposit mix, and continued fixed-asset repricing, partially offset by the impacts of expected rate cuts. Then again, Citigroup’s NII (excluding Markets) is projected to rise 5-6% on a year-over-year basis in 2026.
WFC & C’s Expense Management Efforts
As the banking industry adapts to rising expenses, shifting customer preferences and ongoing digital disruption, Citigroup and Wells Fargo are sharpening their focus. However, their approaches to expense management reflect two different paths.
Citigroup is executing on its plan to cut 20,000 jobs by 2026 and has already reduced headcount by more than 10,000 employees, while focusing on process streamlining and automation to reduce manual touchpoints. The bank is also increasingly deploying artificial intelligence (AI) tools to support these efforts.
During the first-quarter 2026 earnings update, management emphasized that AI tool adoption has increased to more than 80%. Driven by these efforts, management expects to achieve $2-$2.5 billion of annualized run rate savings by 2026.
Wells Fargo, alternatively, is taking a more balanced approach to its operations. As part of this optimization strategy, it has become more deliberate in its branch location strategy, as the number of branches declined 1.5% year over year to 4,093 at the end of the first quarter of 2026. Its headcount reduced 6.5% year over year to 201 thousand by the end of the first quarter of 2026, marking 23 consecutive quarters of reductions.Though the company expects expenses to increase year over year in 2026, its sustained focus on operational efficiency and cost discipline is expected to support profitability and enhance shareholder value in the long run.
C & WFC’s Stock Performance, Valuation & Other Comparisons
In the past year, Wells Fargo shares have gained 13.3%, whereas Citigroup’s stock has surged 87.5%. In comparison, the industry has risen 37.3%.
Price Performance
Image Source: Zacks Investment Research
In terms of valuation, Citigroup’s trailing 12-month price-to-earnings (P/E) ratio is 11.55X, while Wells Fargo’s is 11.31X. Both stocks are trading at a discount compared with the industry’s trailing 12-month P/E ratio of 13.01X, but the WFC stock is cheaper than C.
Price-to-Earnings F12M
Image Source: Zacks Investment Research
Additionally, both companies regularly pay out dividends. WFC has a dividend yield of 2.2% while C has a dividend yield of 1.9%. Here, WFC holds an edge over C.
Dividend Yield
Image Source: Zacks Investment Research
How Do Estimates Compare for Citigroup & Wells Fargo?
The Zacks Consensus Estimate for C’s 2026 sales and EPS implies year-over-year increases of 8.4% and 33.3%, respectively. EPS estimates for 2026 have been revised upward over the past month.
Estimate Revision Trend
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for WFC’s 2026 sales and EPS suggests year-over-year rallies of 4.7% and 8.8%, respectively. EPS estimates for 2026 have been revised downward over the past month.
Estimate Revision Trend
Image Source: Zacks Investment Research
C or WFC: Which Stock to Bet On
While Wells Fargo benefits from the removal of its asset cap, a higher dividend yield and improving balance-sheet flexibility, Citigroup appears better-positioned for stronger upside from here. The company’s restructuring is entering its final phase, divestitures are strengthening capital, and management’s focus on wealth management, IB and operational efficiency should support fee income growth and margin expansion.
Citigroup also has a stronger earnings outlook compared with Wells Fargo. Upward estimate revisions for C reinforce its improving earnings momentum, while WFC has seen downward revisions.
Therefore, despite Wells Fargo’s progress and slightly cheaper valuation, Citigroup emerges as the smarter buy for now, backed by its transformation progress, stronger projected earnings growth, improving efficiency and greater upside potential.
At present, Citigroup has a Zacks Rank #2 (Buy) and WFC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Citigroup vs. Wells Fargo: Which Bank Stock Is a Smarter Buy Now?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $210.2 million dollar inflow -- that's a 0.7% increase week over week in outstanding units (from 205,400,000 to 206,800,000). Among the largest underlying components of ACWI, in trading today Chevron Corporation (Symbol: CVX) is up about 0.1%, Procter & Gamble Company (Symbol: PG) is up about 1.4%, and Wells Fargo & Co (Symbol: WFC) is higher by about 0.8%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average:
Looking at the chart above, ACWI's low point in its 52 week range is $113.58 per share, with $151.47 as the 52 week high point — that compares with a last trade of $150.01. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Project your dividend income with confidence: Income Calendar tracks your income portfolio like a personal assistant.
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Market Cap History
RSLS Split History
Large Caps By Top Market Capitalization
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable ETF Inflow Detected - ACWI, CVX, PG, WFC

Key Points
In the wake of the Iran war, major Wall Street firms including JPMorgan Chase and Wells Fargo slashed their S&P 500 price targets -- but history suggests these forecasts often miss the mark.
In five of the past six years, Wall Street significantly underestimated where the market finished, missing by as much as 28% to the upside.
While the risks to the global economy are real, investors who stick it out usually come out ahead -- and in the long run, they always do.
While the market has reversed course in recent weeks, it remains to be seen where the S&P 500 (SNPINDEX: ^GSPC) will end up at year's end.
Wall Street's perfomance has been mixed, but in the wake of the Iran war, much of the Street has been slashing its price targets. JPMorgan Chase cut its forecast, saying the conflict means a "more constrained" upside. Wells Fargo followed a few days later, trimming its target from 7,800 to 7,300, and several other firms have dialed back expectations as well.
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It makes sense, with oil prices elevated -- the effects of which are only beginning to be felt -- and consumer confidence hitting record lows, it's easy to believe the market will underperform this year.
But history has a lesson for investors who put too much stock in Wall Street's targets. Let's look at how accurate these forecasts have actually been -- and what patterns emerge.
Wall Street's forecasting track record isn't great
Here's the track record:
Year
Consensus Target
Actual Year-End Close
Difference
2020
~3,300
3,756
14%
2021
~4,100
4,766
16%
2022
~4,950
3,840
(22%)
2023
~4,050
4,770
18%
2024
~4,720
5,881
25%
2025
~6,600
6,846
4%
The pattern is striking: In five of the past six years, Wall Street significantly underestimated where the market actually finished -- in some cases by nearly 30%. The lone exception was 2022, when a bear market driven by a rapid rise in interest rates caught nearly everyone off guard.
So in general, Wall Street tends to miss on the low side. That's worth remembering when you see another downward revision.
Why 2026 could be different
The 2026 setup has echoes of April 2025, when the market reacted to massive tariffs from the Trump administration. These were significantly scaled back relatively quickly, and the market dip was short-lived.
Of course, there's plenty of reason to believe this might be different. While there has been diplomatic progress and a deal might soon be reached, the flow of oil and natural gas through the Strait of Hormuz could be affected for months to come, if not longer. Critical infrastructure throughout the area has already been destroyed, and shipping rates are likely to be elevated for some time, even if a peace deal is reached. Operators will be wary of a re-escalation.
If a deal isn't reached and the waterway remains shut for months, a global recession would be hard to avoid.
At the end of the day, you have to take any prediction with a heavy grain of salt, even if it is from Wall Street. And while the risks to the global economy are very real, investors who stick it out usually come out ahead in the short term. In the long run, they always do.
For those of us who lack a crystal ball, time in the market will always beat timing the market.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Periodand min./max. price, $	Price change, %		Volatility, %		Volume, $
Periodand min./max. price, $	WFC	Industry	WFC	Industry	Volume, $
Yesterday 81.2 - 82.4	7.79	1.48	2.57	1.60	928.06M
Week 80.0 - 83.2	5.87	4.67	1.42	2.69	7.53B
Month 76.2 - 86.7	15.05	1.97	5.73	5.90	21.26B
3 Months 74.0 - 95.1	1.61	8.72	11.86	11.87	64.82B
6 Months 74.0 - 97.8	2.06	13.26	17.91	14.94	124.05B
Year 63.4 - 97.8	36.91	19.37	25.77	23.36	243.89B
3 years 36.4 - 97.8	113.29	12.18	48.61	47.26	564.21B
5 years 35.3 - 97.8	108.09	24.57	67.17	65.78	989.70B
All time 7.8 - 66.3	261.81	5.29	—	—	977.43B

Wells Fargo & Company

Price and volatility history

Risk ratios