Wells Fargo & Company — Intrinsic Value & Fair Price

WFC

NYSEFinancial ServicesBanks - DiversifiedCIK 0000072971wellsfargo.comAbout WFC

Last close · Oct 16, 202683.87+1.12 (+1.35%)

Market cap$253.6B

Model value · P/TBV · justified

88.94

Wells Fargo closed at $83.87 — undervalued by 6% vs model.

77.82the model's range103.76

P/TBV · justified leads for a bank. From the justified price to tangible book.

Other models

34.44 – 105.55

Wall St. target

95.00 12% below

Below model, 1y

20 of 20 days

Price and model value

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What the marks mean

Daily close

Valuation models

price $83.87 · as of Oct 17, 2026

P/TBV · justifiedused77.82 – 103.7688.946% undervalued P/E · peers82.82 – 104.7290.647% undervalued P/E · own history78.52 – 98.0888.846% undervalued PEG—105.5521% undervalued Dividend discount24.17 – 54.2834.44144% overvalued Wall St. consensus target—95.0012% below Cost of capital (WACC)—10.66%—

P/TBV · justified leads for a bank. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026

Yield, trailing 12 months

2.21%

Past 2 years

low 1.76%high 2.81%

Dividends per share, a year at a time

Dividends / earnings, FY2025: 25.5%
Raised: 5 years in a row
Growth, 5 yrs: 29.9% a year
Last change: +11.1% · Aug 2026

Every payment, with ex-dates · latest $0.50, paid Sep 1, 2026

Research on WFC

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How it is valued

Valued asBank

Revenue declining (~-2% recent)High profitability (23% net margin)Strong dividend yieldHighly cyclical earnings

What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for banks

Price / tangible book

1.8×

Price / book

1.5×

Return on equity

11.8%

P/E

13.4×

Dividend yield, TTM

2.21%

Payout ratio

30.4%

On the lists: #46 Largest companies · #49 Lowest P/E

Full financials

Superinvestors

13F · Q2 2026

Dodge & CoxDodge & Cox$2.6B Bill NygrenHarris Associates L P$900.2M Richard PzenaPzena Investment Management LLC$729.5M Christopher DavisDavis Selected Advisers$661.9M

All 16 holders

Analyst actions

third-party, quoted

10-14Morgan Stanley · target101.00

10-14RBC Capital · target92.00

10-13Goldman Sachs · target94.00

10-05Morgan Stanley · “Overweight” from “Equal Weight”upgrade

Ratings, targets and estimates

Recent

filings, insider trades and key news

10-138-K · 2.02Results of Operations (Earnings)10-01Form 4 · ASARGENT RONALD · 530 sh@ 80.25 10-01Form 4 · AHewett Wayne M. · 452 sh@ 80.25 10-01Form 4 · ABLACK STEVEN D · 1,153 sh@ 80.25 09-248-K · 9.01Financial Statements and Exhibits 09-238-K · 5.02Departure/Election of Directors or Officers

30 filings · 38 insider transactions

Comparable companies

by business, not by industry label

BACBank of America JPMJPMorgan Chase CCitigroup USBU.S. Bancorp PNCPNC Financial Services TFCTruist Financial

Side by side:vs BAC vs JPM

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just WFC. No account.

About Wells Fargo

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. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The company’s financial products and services includes checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. It also provides personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services; and financial solutions to private, family owned and public companies through products and services including banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management. In addition, it 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. Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California.

CEO: Charles W. Scharf
Headquarters: San Francisco, CA
Employees: 197,466
IPO: 1972-06-01

Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.