Wells Fargo rises after announcing $40 billion stock buyback program

ReutersApr 29, 2025 3:18 PM

Wall Street giant Wells Fargo's WFC.N shares rise as much as 2.2%; last up 1.3% at $70.30

WFC announces new stock repurchase program of up to $40 billion, which will take effect upon the completion of the current repurchase program

Wall Street expects buyback activity to accelerate through 2025 given subdued loan growth this year and near-record-high capital levels of the banking industry

Bank stocks have also taken a hit this year due to mounting recession fears, creating opportunity for the industry to take advantage of lower valuations

18 of 24 brokerages rate the stock "buy" or higher and 6 "hold"; median PT $77 - data compiled by LSEG

As of last close, WFC shares down 1.2% YTD

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Recommended Articles

'Big Short' Burry Doubles Down: Nvidia, Palantir Short Positions Double in Big Bet on AI Bubble Bursting

TradingKey — As the Nasdaq continues to hit consecutive record highs, Michael Burry—who rose to fame during the 2008 subprime mortgage crisis and was the inspiration for the film *The Big Short*—is betting with unprecedented intensity on the bursting of the AI bubble.

Hantavirus Appears Sporadically, Is Now the Opportunity to Buy Vaccine Concept Stock Moderna?

TradingKey - As of May 7, the World Health Organization (WHO) has confirmed eight cases of hantavirus infection associated with the cruise ship, including three deaths. The Andes strain of the virus is the only hantavirus subtype known to be capable of limited person-to-person transmission.

Why SanDisk Stock Could Soar to $4,000?

If SanDisk continues along its path and actually achieves the consensus estimate of $168 in earnings per share in one year, a P/E multiple of 22 — which is a rather conservative estimate of the S&P 500 average — would imply a stock price of close to $4,000.

AI Chip Sector Adds Heavyweight Player, Nvidia Rival Cerebras Plans to List Next Week, Targeting Largest US IPO of the Year

TradingKey - AI chipmaker Cerebras is reportedly planning to list on Nasdaq on May 14 under the ticker symbol “CBRS.” The IPO is expected to be the largest in the U.S. this year, placing Nvidia’s (NVDA) strongest challenger in the AI computing space officially under the capital market spotlight.

AMD Q1 Earnings: Data Center Revenue Surges 57% Driving Results Above Estimates, Shares Rise Over 16% After Hours

TradingKey - On May 5 (ET), Advanced Micro Devices (AMD) released its first-quarter fiscal 2026 financial results after the market close. The company reported revenue of $10.253 billion, up 38% year-over-year, exceeding market expectations of $9.89 billion. Non-GAAP earnings per share (EPS) were $1.

Featured Tools