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Original headline: Wells Fargo maintains ‘Overweight’ Meta rating, cuts target to $995
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Related tickers and likely impact
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/21/2026 | 697.52 |
| Change that session | +0.47% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- We're upgrading our rating on Wells Fargo as the stock's pullback offers a nice entry point
Wells Fargo shares dipped 2% after the bank reported mixed third-quarter results, with revenue up 2% to $21.9 billion, below the $22.3 billion consensus. Earnings per share rose 13% to $1.87, beating the $1.85 consensus. Net interest margin stabilized at 2.43%, above the expected 2.41% and ending four straight quarters of decline, while ROTCE rose to 16.3%. The efficiency ratio was 63%, slightly worse than expected, and tangible book value per share reached $44.46, below expectations. The analyst upgraded the stock to buy-equivalent (from 2 to 1), kept a $95 price target, and said the roughly 6% pullback since early September could present a buying opportunity.
- 3 Bank Stocks Raised Their Dividends 10% or More This Year and Pay Out Less Than 30% of Earnings
JPMorgan Chase, Wells Fargo and Goldman Sachs each raised their quarterly dividends by double digits this year, while paying out no more than 29.6% of third-quarter EPS. JPMorgan lifted its dividend from $1.50 to $1.65 per share, a yield of about 1.97% at $338.87, backed by $15.3 billion in quarterly net income, a 13.9% standardized CET1 ratio and roughly $30 billion of excess capital; it also cut buybacks to fund lending. The article warns that current earnings are helped by unusually good conditions, so the payout ratio would rise if returns fall back to normal levels. Wells Fargo raised its dividend from 45 to 50 cents, a yield of about 2.47% at $82.33, equal to 26.7% of $1.87 third-quarter EPS, with net loan charge-offs at 38 basis points. It had cut its dividend to 10 cents in 2020 and has since rebuilt it almost to pre-cut levels.
- Wells Fargo's Stablecoin Push: A Potential Edge in Digital Payments?
Wells Fargo said on its October 13 third-quarter 2026 earnings call that it plans to launch a stablecoin in the first half of 2027 alongside 20 other international financial institutions, aimed at cross-border and institutional payments and digital asset settlement. The move builds on a reserve-backed stablecoin collaboration with Early Warning Services disclosed in its 2025 annual report and a March 2026 trademark filing for 'WFUSD'. The bank also launched tokenized deposits on its proprietary blockchain in September 2026, with transactions reaching beneficiary accounts in two minutes or less versus one to two days for traditional cross-border transfers. According to a Yahoo Finance article citing CoinDesk, Wells Fargo is reportedly in talks with Payward, the parent company of Kraken, to secure liquidity for crypto trading.
- Goldman Sachs Rises on Equities-Led Earnings Beat; JPMorgan Chase Treads Water, Wells Fargo Declines 3%
Goldman Sachs beat third-quarter 2026 profit forecasts with diluted EPS of $17.01 versus a $13.65 consensus, and revenue of $18.68 billion versus a $17.03 billion estimate. Equities trading drove the result, with revenue of $6.44 billion, up 72% year over year, and advisory fees hit a record $1.65 billion. Its stock rose 1% to $904.09 in early trade, while JPMorgan was roughly flat at $334.39 and Wells Fargo fell 3% to $81.08 after its $21.87 billion revenue disappointed traders. Goldman also reported a lower investment banking backlog than at the end of Q2, a drop in its CET1 ratio to 12.4% from 14.3%, and a charitable contribution of about $450 million that weighed on earnings.
- Adobe Falls 4% as Wells Fargo Cuts to Underweight With $225 Target; ServiceNow Climbs 3%, Intuit Ticks Up
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- Meta found a new way to pay for its AI boom
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