10 Best Stocks to Buy Before Spring

5. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 96

Wells Fargo & Company (NYSE:WFC), founded in 1852, is a notable financial services company that offers a wide variety of banking, investing, mortgage, consumer, and commercial financing products and services.

Wells Fargo & Company (NYSE:WFC) reported revenues of $20.3 billion in the fourth quarter of 2024, a slight 0.5% decrease from the same quarter the prior year. However, net income increased dramatically to $5.07 billion, up from $3.4 billion the year before.

On January 16, RBC Capital Markets raised its price target for Wells Fargo & Company (NYSE:WFC) to $80 from $72, while keeping a Sector Perform rating on the bank’s shares, citing Wells Fargo’s fourth-quarter earnings. RBC Capital also upgraded Wells Fargo’s EPS predictions, increasing the 2025 estimate to $5.85 from $5.50 and the 2026 expectation to $6.75 from $6.45. This adjustment includes projected greater net interest revenue and solid noninterest income, as well as lower expenditures, however a higher provision for credit losses is expected to partially offset these benefits.