Dernières nouvelles pour Wells Fargo (NYSE:WFC) Stock

Wells Fargo

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.

Wells Fargo & Co

Where Food Comes From, Inc. - Common Stock

Where Food Comes From Inc

1867 WESTN FINL CORP by 1867 Western Financial Corp

1867 Western Financial Corp

WELLS FARGO & CO D/E PFD by Wells Fargo & Co.

WELLS FARGO ORD

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD

Wells Fargo & Company 7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y

Wells Fargo & Company Depositary Shares, each representing a 1/1,000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z

Whales with a lot of money to spend have taken a noticeably bullish stance on Wells Fargo.
Looking at options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $1,337,985 and 4, calls, for a total amount of $191,597.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $70.0 for Wells Fargo during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale trades within a strike price range from $50.0 to $70.0 in the last 30 days. 
<h3>Wells Fargo Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728493284_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$9.95</td>
<td>$9.85</td>
<td>$9.85</td>
<td>$65.00</td>
<td>$206.8K</td>
<td style="text-align: right;">72</td>
<td style="text-align: right;">35</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$13.35</td>
<td>$13.25</td>
<td>$13.25</td>
<td>$70.00</td>
<td>$193.4K</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">121</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$67.50</td>
<td>$188.1K</td>
<td style="text-align: right;">382</td>
<td style="text-align: right;">328</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$13.25</td>
<td>$13.1</td>
<td>$13.1</td>
<td>$70.00</td>
<td>$157.2K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">121</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$11.1</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$67.50</td>
<td>$119.9K</td>
<td style="text-align: right;">382</td>
<td style="text-align: right;">157</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
<h3>Where Is Wells Fargo Standing Right Now?</h3>
<ul>
<li>With a volume of 4,180,144, the price of WFC is up 0.14% at $57.38. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 2 days.</li>
</ul>
<h3>Professional Analyst Ratings for Wells Fargo</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $66.25.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Evercore ISI Group persists with their Outperform rating on Wells Fargo, maintaining a target price of $68. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on Wells Fargo, maintaining a target price of $67. 
&#x2A; An analyst from Wolfe Research has elevated its stance to Outperform, setting a new price target at $65. 
&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $65. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wells Fargo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

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Wells Fargo's Options Frenzy: What You Need to Know

The third-quarter earnings season for U.S. banks will officially kick off this Friday, with major financial institutions like JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) set <a href="https://www.benzinga.com/news/earnings/24/10/41216873/us-banks-earnings-preview-soft-landing-hopes-interest-rate-cuts-key-catalysts-for-stocks">to report their results. </a>
The following Tuesday will see additional earnings releases from mega-cap players such as Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), as well as some regional banks.
<h3 class="wp-block-heading">Banking Sector Performance So Far In 2024</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png" alt="" class="wp-image-587909" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1024x447.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-300x131.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-768x336.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66-1536x671.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09104754/image-66.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Chart:<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent100924&amp;t=be2bearmibe3na1"> Benzinga Pro</a></figcaption></figure>
Thus far, in 2024, the banking sector has shown strong performance. The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major financial stocks, has risen 21% year-to-date, matching the performance of the broader market as represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>).
However, regional banks have lagged behind their larger counterparts. The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) is up just 6% year-to-date, though it has outperformed over the past three months. This recent rebound is largely due to falling inflation and increasing expectations of Federal Reserve interest rate cuts.
With earnings season approaching, the question on many investors&#8217; minds is whether large banks will maintain their positive performance gap over regional players or if recent market developments will impact their results and outlooks. 
Here&#8217;s what Wall Street analysts are saying ahead of the bank earnings season.
<h3 class="wp-block-heading">Analyst Expectations And Top Picks</h3>
<h4 class="wp-block-heading">RBC Capital Markets – Gerard Cassidy, co-head of global financials research</h4>
&#8220;We believe the set-up looks very good for banks over the next 12-18 months. We expect the Federal Reserve to cut short-term interest rates by 200-250 basis points over this period, and the finalization of the Basel III &#8216;endgame&#8217; proposal will allow banks to return excess capital through buybacks and dividends. We continue to recommend an overweight position in bank stocks.&#8221;
<ul>
<li>Top Picks (RBC holds earnings per share estimates for both above Street consensus for the third quarter)
<ul>
<li>Truist Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>)</li>
<li>KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">JPMorgan Chase &amp; Co. – Anthony Elian, CFA</h4>
&#8220;As the Federal Reserve reduces rates, several industry headwinds could turn into tailwinds.&#8221; This includes:
<ol>
<li>Lower deposit costs, improving net interest margins (NIMs)</li>
<li>An uptick in commercial loan demand</li>
<li>Easing credit quality concerns, particularly for banks with commercial real estate (CRE) exposure</li>
<li>A resumption of buyback programs as reserves are released</li>
<li>Increased exit market and venture capital activity.</li>
</ol>
<ul>
<li>Top Picks:
<ul>
<li>First Citizens Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NYSE">FCNCA</a>)</li>
<li>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</li>
<li>Pinnacle Financial Partners Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Wedbush Securities – David J. Chiaverini, CFA</h4>
&#8220;We expect mixed trends for banks in Q3, with modest loan and deposit growth, stabilizing deposit mix shifts, and NIMs benefiting from fixed asset repricing. Some banks will be more positively positioned than others in this environment.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</li>
<li>Wintrust Financial Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>)</li>
<li>Columbia Banking Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) Wedbush believes Columbia Banking Systems will benefit from a lower rate environment as it is liability-sensitive, unlike most banks that are asset-sensitive.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Bank of America – Ebrahim H. Poonawala</h4>
&#8220;We favor regional banks over large money centers heading into Q3, given better net interest income (NII) defensibility and greater capital relief as mark-to-market losses on bond books decrease. Our top ideas going into Q3 earnings include a mix of regionals and larger financial institutions.&#8221;
<ul>
<li>Top Picks:
<ul>
<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>)</li>
<li>Western Alliance Bancorporation </li>
<li>PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>)</li>
<li>Fifth Third Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NYSE">FITB</a>)</li>
<li>M&amp;T Bank Corp.</li>
<li>Truist Financial Corporation</li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>)</li>
<li>Goldman Sachs Inc.</li>
<li>Bank of New York Mellon Corp.</li>
</ul>
</li>
</ul>
<h4 class="wp-block-heading">Goldman Sachs – Richard Ramsden</h4>
Goldman Sachs is particularly optimistic about Citigroup heading into Q3 earnings, citing the bank's progress toward its 2024 targets driven by strong fee growth, solid capital markets activity, and robust card volumes. 
Ramsden is above consensus on Citigroup's Q3 pre-provision net revenue (PPNR), largely due to expectations of higher fees and capital markets activity.
<ul>
<li>Top Pick:
<ul>
<li>Citigroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>)</li>
</ul>
</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/10/41249837/s-p-500-earnings-season-kicks-off-why-analysts-call-this-quarter-a-stock-pickers-paradise">S&amp;P 500 Earnings Season Kicks Off: Why Analysts Call This Quarter &#8216;A Stock Picker&#8217;s Paradise&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

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COLB

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FITB

PNFP

WTFC

Banks Gear Up For Earnings Season: 15 Top Stock Picks Including Citigroup, Morgan Stanley, And Truist

In a surprising twist, Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) stock has been downgraded by Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) from overweight to equal weight, raising eyebrows in <a href="https://www.benzinga.com/quote/AMZN/news">the investment community</a>.
Wells Fargo analyst Ken Gawrelski expressed concerns over the retail giant&#8217;s growth trajectory, particularly highlighting the intensifying competition from Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) and the likelihood that Amazon&#8217;s cloud computing revenue won&#8217;t fully offset its margin pressures.
<h1 class="wp-block-heading">Amazon Stock: A Bearish Trend Unfolding</h1>
Currently, Amazon&#8217;s stock sits at $182.47, up 21.86% year-to-date and a notable 42.45% over the past year. However, the technical indicators tell a different story. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08111324/Screenshot-2024-10-08-at-8.42.26-PM.png" alt="" class="wp-image-585926" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08111324/Screenshot-2024-10-08-at-8.42.26-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08111324/Screenshot-2024-10-08-at-8.42.26-PM-300x219.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100824&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
With the share price falling below its five-day, 20-day and 50-day exponential moving averages, the trend is classified as strongly bearish. Amazon stock is experiencing significant selling pressure, suggesting the potential for future declines.
<ul>
<li>The eight-day simple moving average stands at $184.49, signaling a bearish outlook.</li>
<li>The 20-day SMA is at $187.26, further reinforcing the negative sentiment.</li>
<li>While the 50-day SMA at $179.21 and the 200-day SMA at $177.27 present bullish signals, they cannot mask the overall negative outlook.</li>
</ul>
Read Also: <a href="https://www.benzinga.com//node/41216248">Amazon Stock Is Sliding Monday: What&#8217;s Going On?</a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="625" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08111341/Screenshot-2024-10-08-at-8.42.37-PM.png" alt="" class="wp-image-585927" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08111341/Screenshot-2024-10-08-at-8.42.37-PM.png 625w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08111341/Screenshot-2024-10-08-at-8.42.37-PM-300x219.png 300w" sizes="(max-width: 625px) 100vw, 625px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent100824&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Additionally, the Moving Average Convergence Divergence (MACD) indicator shows a value of 0.82, suggesting bullish momentum, but the Relative Strength Index (RSI) of 47.38, and declining, indicates that Amazon stock may soon be in the oversold territory. 
The Bollinger Bands also hint at a bearish signal, with Amazon stock now having entered the lower bearish band.
<h1 class="wp-block-heading">Wells Fargo Skeptical On Visibility, Potential Headwinds</h1>
Wells Fargo's downgrade marks a rare moment of skepticism toward Amazon, with Gawrelski stating, &#8220;We are selling our 7.6% AMZN position,&#8221; citing &#8220;limited visibility into further positive estimate revisions.&#8221; This reflects a cautious approach as the firm reassesses its strategy in light of potential headwinds.
Since Amazon&#8217;s reintroduction into Wells Fargo&#8217;s portfolio in July 2023, the stock has shown impressive gains of 40%, outpacing the S&amp;P 500's 31% increase.
However, with this downgrade, analysts and investors alike are wondering if the e-commerce giant can maintain its momentum against mounting competition and shifting market dynamics.
<h1 class="wp-block-heading">The Way Ahead?</h1>
Wells Fargo&#8217;s downgrade of Amazon serves as a warning signal for investors. 
With bearish technical indicators and growth concerns looming large, the stock&#8217;s future may be less certain than it once appeared. 
Those holding Amazon stock might want to stay alert — especially as competition heats up and market dynamics evolve.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com//node/41196792">Jeff Bezos Swears By This One-Hour Rule For Success — Now Neuroscience Backs It Up</a></li>
</ul>
Photo: Shutterstock

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AMZN

Amazon Stock Downgrade By Wells Fargo: A Bearish Signal On Growth Concerns

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/66433a0c6d48530001dc96e5/anthony-codling">RBC Capital analyst Anthony Codling</a> upgraded the rating for CEMEX, S.A.B. de C.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CX#NYSE">CX</a>) from Underperform to Sector Perform but lowered the price target from $9 to $6.5. Cemex shares fell 0.7% to close at $5.88 on Monday. <a href="https://www.benzinga.com/quote/CX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wolfe Research analyst Steven Chubak upgraded Wells Fargo &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) from Peer Perform to Outperform and announced a $65 price target. Wells Fargo shares gained 0.4% to close at $57.16 on Monday. <a href="https://www.benzinga.com/quote/WFC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59d7dc9c6ab1240001d3a462/vernon-bernardino">HC Wainwright &amp; Co. analyst Vernon Bernardino</a> upgraded the rating for Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) from Neutral to Buy and announced a price target of $116. Cassava Sciences shares fell 6.2% to close at $25.41 on Monday. <a href="https://www.benzinga.com/quote/SAVA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BTIG analyst Vincent Caintic upgraded Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) from Neutral to Buy and announced a $68 price target. Affirm shares closed at $38.60 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush analyst Jay McCanless upgraded the rating for UFP Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFPI#NASDAQ">UFPI</a>) from Neutral to Outperform and raised the price target from $120 to $155. UFP Industries shares closed at $129.58 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying WFC stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08090857/image-52-1024x519.png" alt="" class="wp-image-585560" style="width:602px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08090857/image-52-1024x519.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08090857/image-52-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08090857/image-52-768x389.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08090857/image-52.png 1342w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41221716/dow-dips-around-400-points-as-treasury-yields-top-4-investor-optimism-declines-but-fear-index-remai">Dow Dips Around 400 Points As Treasury Yields Top 4%: Investor Optimism Declines, But Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

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SAVA

UFPI

This Wells Fargo Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday

Wolfe Research analyst Steven Chubak upgrades Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) from Peer Perform to Outperform and announces $65 price target.

Price Target

Wolfe Research Upgrades Wells Fargo to Outperform, Announces $65 Price Target

As the earnings season approaches, PepsiCo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is poised to lead the way on Tuesday, with significant banks like JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) following suit on Friday. Investors are eagerly watching as the S&amp;P 500 hovers near record levels.
What Happened: Wall Street is predicting a 4.6% increase in S&amp;P 500 earnings, marking the fifth consecutive quarter of growth, as reported by FactSet. Analysts have set bottoms-up earnings per share estimate of $60.82 for the third quarter, <a href="https://markets.businessinsider.com/news/stocks/stock-market-q3-earnings-preview-investors-themes-ai-interest-rates-2024-10">reported</a> Business Insider. 
Key themes include the adoption of artificial intelligence, consumer health, and the influence of lower interest rates. John Belton from Gabelli Funds expressed concerns over AI investments not yet leading to increased revenues. 
Meanwhile, Tom Hainlin from U.S. Bank Wealth Management emphasized the significance of declining inflation, moderating interest rates, and stable 2025 earnings projections in supporting stock prices.
Investors will also be monitoring consumer health, focusing on credit delinquencies and spending behavior. The Federal Reserve&#8217;s recent interest rate cut will be scrutinized for its effects on rate-sensitive sectors and smaller companies. Lower mortgage rates are anticipated to boost the housing market, according to Hainlin.
&#8220;Lower mortgage rates are breathing some life back into the housing market, evidenced by a ramp up in weekly mortgage applications by almost 50% since the end of July, to the highest point since mid-2022,&#8221; Hainlin said, according to the report.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41185026/whats-going-on-with-cisco-systems-stock-friday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Cisco Systems Stock Friday?</a>
Why It Matters: The upcoming earnings season is crucial for the S&amp;P 500, which has experienced a <a href="https://www.benzinga.com/news/24/10/41198845/s-p-500s-8t-surge-faces-big-test-with-this-weeks-earnings-releases">remarkable $8 trillion surge</a>, driven by expectations of a relaxed monetary policy and strong profit forecasts.
As U.S. banks prepare to report their <a href="https://www.benzinga.com/news/earnings/24/10/41216873/us-banks-earnings-preview-soft-landing-hopes-interest-rate-cuts-key-catalysts-for-stocks">third-quarter earnings</a>, investor attention is focused on the potential for a soft landing in the economy and the impact of Federal Reserve rate cuts on bank valuations. 
Analysts remain cautiously optimistic about the outlook for bank stocks, with a <a href="https://www.benzinga.com/news/earnings/24/10/41216873/us-banks-earnings-preview-soft-landing-hopes-interest-rate-cuts-key-catalysts-for-stocks">softer rate environment expected to boost</a> customer activity, particularly in investment banking and mortgage lending. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41201263/meta-stock-returns-pale-next-to-peter-thiels-secretive-data-company-even-as-mark-zuckerberg-comp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Stock Returns Pale Next To Peter Thiel&#8217;s Secretive Data Company Even As Mark Zuckerberg Company&#8217;s AI Advancements Generate Excitement</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

PepsiCo, JPMorgan And Wells Fargo To Kick Off Earnings Season As Investors Eye S&P 500 Near Record Highs: Interest Rates And Inflation In Focus

As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and <a href="https://www.benzinga.com/topic/banks">their impact on bank valuations. </a>
Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks. They predict that a soft-landing scenario could trigger a rebound in customer activity, improve loan growth, and positively drive higher price-to-earnings (P/E) multiples for the sector. However, macro uncertainties, including Fed policy shifts and the upcoming U.S. elections, temper the enthusiasm.
Bank of America equity analyst Ebrahim H. Poonawala highlighted in a note Monday that rate cuts could be &#8220;structurally bullish&#8221; for bank earnings per share (EPS) outlooks and stock P/E multiples. A softer rate environment is expected to reinvigorate customer activity, particularly in investment banking, mortgage lending, and loan growth.
However, lower interest rates are expected to negatively impact &#8220;asset-sensitive banks&#8221; as loan yields will drop.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This &#8216;Positive Catalyst&#8217; Could Be More Important</a>
<h3 class="wp-block-heading">Political Risks Loom Large Ahead of Elections</h3>
The upcoming U.S. election adds an additional layer of uncertainty for banks. 
&#8220;A&nbsp;Trump win is likely seen as positive for relief on the regulatory/M&amp;A fronts.&nbsp;Democratic sweep likely most negative outcome for the sector given potential for higher taxes, more of the same (or worse) on regulatory changes,&#8221; analysts wrote.
While current valuations appear cautiously optimistic about a soft landing, political outcomes could trigger volatile movements in the sector. A Trump win would likely lead to a &#8220;knee-jerk&#8221; positive reaction in bank stocks, while a Democratic win could weigh on sentiment.
<h3 class="wp-block-heading">Regional Banks Preferred Over Money Center Banks</h3>
For the third quarter of 2024, the investment bank favored regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), over large money center banks, citing &#8220;better defensibility of net interest income (NII).&#8221;
Regionals have greater flexibility with deposits, better hedging strategies, and more potential for capital relief as mark-to-market losses on bond books decline. 
Key picks include U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), Fifth Third (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), and Truist Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>).
First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is seen as the &#8220;best positioned to navigate current rate expectations,&#8221; while Texas Capital Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is the most impacted.
On Monday, Bank of America also downgraded Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from &#8220;Neutral&#8221; to &#8220;Underperform,&#8221; reducing the price target from $55 to $52. Analyst Brandon Berman highlighted that the positive rate trade underpinning Comerica &#8220;has run its course,&#8221; and the stock now trades above the high end of its historical range, not reflecting the risk of downward earnings revisions.
Looking ahead, Friday, Oct. 11, will see key earnings reports from JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNY#NYSE">BNY</a>).
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">Will Kamala Harris&#8217;s Media Blitz, Including &#8217;60 Minutes&#8217; And &#8216;Call Her Daddy,&#8217; Improve Her 2024 Election Prospects?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Broad U.S. Equity ETFs

Federal Reserve

TCBI

US Banks Earnings Preview: Soft-Landing Hopes, Interest Rate Cuts, Key Catalysts For Stocks

The <a href="https://www.benzinga.com/topic/2024-election">hotly contested 2024 election</a> between Vice President Kamala Harris and former President Donald Trump has Americans bracing for a down-to-the-wire finish. While Harris has <a href="https://www.benzinga.com/news/24/09/40969781/nate-silvers-forecast-kamala-harris-retakes-lead-over-donald-trump">a slight lead</a> in polling forecasts, the race remains an essential toss-up. 
As market participants consider investment ideas tied to the election, telling signs might be found in the aftermath of <a href="https://www.benzinga.com/topic/2016-presidential-election">the 2016 election</a>.
Election Debrief: Trump won the 2016 election in a surprising upset over Democrat Hillary Clinton. He ran on a platform of building a wall on the U.S.-Mexico border, repealing Obamacare, enacting deregulation and prioritizing fossil fuels.
Trump <a href="https://www.benzinga.com/news/20/11/18261020/joe-biden-wins-2020-presidential-election-as-donald-trump-pushes-lawsuits-recounts">lost the 2020 election</a> to Democrat Joe Biden.
2016 Winners: Large bank stocks benefitted the most from Trump&#8217;s 2016 triumph.
Shares of JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) soared over 13% in the week following Trump&#8217;s surprising win, according to data from Yahoo Finance. Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) traded up over 17% that week. Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) saw an 18% bump in share price. Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) also had a fantastic week as shares jumped over 16%.
Blackstone Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) Stephen Schwarzman is among <a href="https://www.benzinga.com/markets/equities/24/05/39021029/donald-trump-to-get-endorsement-from-blackstone-ceo-steve-schwarzman-report">Trump&#8217;s biggest supporters</a> on Wall Street. Shares of the private equity giant traded up nearly 9% in the week following the 2016 election.
The market&#8217;s preference for financial stocks after Trump's win comes as no surprise, given his strong support for deregulating the financial sector.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-secon">Hurricane Milton Is Florida&#8217;s Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted</a>
Trump&#8217;s 2016 victory was also favorable to the oil and coal industries due to his support for deregulating the energy sector and prioritizing American energy production. Shares of coal mining company Arch Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) rocketed up over 21% in the week following the election. Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) saw modest gains.
2016 Losers: Indexes in foreign countries fell overnight on election day 2016, <a href="https://money.cnn.com/2016/11/08/investing/global-markets-stocks-trump-clinton-us-presidential-election/index.html">according</a> to CNN. The Mexican peso plunged 9%, while European indexes fell a few percentage points. The Russia-tracking iShares MSCI Russia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERUS#NYSE">ERUS</a>) ticked higher overnight.
Tech stocks closed the week in the red, perhaps due to regulatory concerns. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) all ticked down 2 to 3 percentage points.
Clean energy stocks faced challenges after the 2016 election. Electric vehicle manufacturer Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ended the week down over 5%, following Trump&#8217;s victory. At the time, CEO Elon Musk had not <a href="https://www.benzinga.com/news/24/08/40145805/elon-musk-says-his-endorsement-of-trump-doesnt-mean-he-agrees-with-everything-ex-president-is-saying">yet endorsed Trump</a> for a future run, but the market reaction reflected broader concerns for clean energy under a pro-fossil-fuel administration. Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) saw an even steeper decline, shedding over 16% of its market value in the week after the election.
Why it Matters: If history were to repeat itself, a Trump win in 2024 would likely bode well for financial, oil and coal companies. On the flip side, tech companies under regulatory scrutiny and clean energy stocks could see declines in Trump&#8217;s hypothetical return to the White House.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41199702/trump-says-we-need-a-mandate-in-the-vote-and-were-going-to-get-it-as-2024-election-draws-near">Trump Says &#8216;We Need A Mandate In The Vote, And We&#8217;re Going To Get It&#8217; As 2024 Election Draws Near</a></li>
</ul>
Photo: Shutterstock

Politics

AAPL

ARCH

CSIQ

ERUS

GOOG

GOOGL

MSFT

TSLA

What A Trump Win Could Mean For Financial, Energy Stocks: Lessons From 2016

WIIM

HFBL

HWBK

INBK

Shares of banking companies are trading higher amid overall market strength following strong September Unemployment Rate and Nonfarm Payrolls data. Also, the dockworkers struck a deal to suspend their strike after they reached a tentative agreement, easing concerns about its potential ramifications.

Financial giants have made a conspicuous bearish move on Wells Fargo. Our analysis of options history for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) revealed 34 unusual trades.
Delving into the details, we found 11% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $511,054, and 26 were calls, valued at $1,380,926.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $45.0 to $62.5 for Wells Fargo during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wells Fargo's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wells Fargo's whale activity within a strike price range from $45.0 to $62.5 in the last 30 days. 
<h3>Wells Fargo 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728056778_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$5.75</td>
<td>$5.65</td>
<td>$5.65</td>
<td>$60.00</td>
<td>$168.9K</td>
<td>246</td>
<td>300</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$13.9</td>
<td>$13.35</td>
<td>$13.35</td>
<td>$45.00</td>
<td>$133.5K</td>
<td>3.4K</td>
<td>100</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$1.68</td>
<td>$1.41</td>
<td>$1.42</td>
<td>$55.00</td>
<td>$98.2K</td>
<td>5.4K</td>
<td>1.1K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$0.93</td>
<td>$0.92</td>
<td>$0.92</td>
<td>$58.00</td>
<td>$88.5K</td>
<td>4.9K</td>
<td>2.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$5.25</td>
<td>$5.15</td>
<td>$5.25</td>
<td>$60.00</td>
<td>$78.7K</td>
<td>5.6K</td>
<td>250</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Having examined the options trading patterns of Wells Fargo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Wells Fargo's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 5,222,608, the WFC's price is up by 2.62%, now at $56.42. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 7 days.</li>
</ul>
<h3>Expert Opinions on Wells Fargo</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $66.25.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Morgan Stanley persists with their Overweight rating on Wells Fargo, maintaining a target price of $67. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $68. 
&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $65. 
&#x2A; An analyst from Evercore ISI Group persists with their Outperform rating on Wells Fargo, maintaining a target price of $65. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wells Fargo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Wells Fargo Options Trading: A Deep Dive into Market Sentiment

After securing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41175197/openais-latest-eye-popping-valuation-ignites-analyst-expectations-for-tidal-wave-of">whopping $6.6 billion funding</a> round, ChatGPT-parent&nbsp;OpenAI has bagged a&nbsp;$4 billion revolving credit line.
What Happened: The new credit facility will bolster its liquidity to $10 billion, allowing the AI startup to invest in high-cost <a href="https://www.benzinga.com/markets/equities/24/07/39856365/openai-in-talks-with-broadcom-to-develop-new-ai-chip-aims-to-reduce-reliance-on-nvidia-report">computing capacity</a> including Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
&#8220;This credit facility further strengthens&nbsp;our balance sheet and provides&nbsp;flexibility to seize future growth&nbsp;opportunities,&#8221; said OpenAI CFO&nbsp;Sarah Friar, in a blog on Thursday.
The credit line is facilitated by a consortium of banks: JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Banco Santander S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAN#NYSE">SAN</a>), Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Sumitomo Mitsui Banking&nbsp;Corporation, UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), and HSBC Holdings plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSBC#NYSE">HSBC</a>).
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier this week, OpenAI, <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valued at nearly $157 billion</a>, raised funds&nbsp;from returning venture capital investors&nbsp;such as&nbsp;Thrive Capital and Khosla Ventures.
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), which has already invested approximately $13 billion into the AI firm over the last five years,&nbsp;and new investor Nvidia, also&nbsp;participated in the funding round.
Despite <a href="https://www.benzinga.com/news/24/09/41059344/sam-altman-hits-back-at-trolls-after-mira-muratis-openai-exit-explains-executive-drain-as-natural-we">major executive changes</a>, including the sudden exit of CTO Mira Murati, investors remain optimistic about OpenAI&#8217;s growth prospects.
However, OpenAI has also faced criticism from Elon Musk, who accused the company of&nbsp;<a href="https://www.benzinga.com/news/24/10/41156902/elon-musk-says-openai-is-evil-after-chatgpt-parent-reportedly-asked-investors-not-to-invest-in-rival">unfair funding practices</a>.
On the other hand, analysts expect a &#8220;tidal wave&#8221; of AI spending, with OpenAI&#8217;s latest valuation seen as a trigger for this growth stage.
Photo Courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/24/10/41111038/elon-musk-gets-bold-font-removed-from-xs-main-timeline-because-of-excessive-use-my-eyes-are-bleeding?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Gets Bold Font Removed From X&#8217;s Main Timeline Because Of &#8216;Excessive&#8217; Use: &#8216;My Eyes Are Bleeding&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

HSBC

NVDA

OpenAI Secures $4B Credit Line To Supercharge AI Ambitions And Expand Nvidia-Powered Infrastructure: 'Provides Flexibility To Seize Future Growth Opportunities'

Deep-pocketed investors have adopted a bullish approach towards Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WFC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Wells Fargo. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 36% bearish. Among these notable options, 21 are puts, totaling $925,781, and 15 are calls, amounting to $761,656.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $70.0 for Wells Fargo during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Wells Fargo stands at 10752.79, with a total volume reaching 25,719.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Wells Fargo, situated within the strike price corridor from $40.0 to $70.0, throughout the last 30 days.
<h3>Wells Fargo Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727896582_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.75</td>
<td>$0.67</td>
<td>$0.75</td>
<td>$65.00</td>
<td>$112.7K</td>
<td>16.3K</td>
<td>1.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.38</td>
<td>$1.36</td>
<td>$1.38</td>
<td>$60.00</td>
<td>$108.9K</td>
<td>6.6K</td>
<td>791</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.77</td>
<td>$0.76</td>
<td>$0.76</td>
<td>$65.00</td>
<td>$84.8K</td>
<td>16.3K</td>
<td>1.6K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.3</td>
<td>$0.28</td>
<td>$0.29</td>
<td>$70.00</td>
<td>$73.5K</td>
<td>13.2K</td>
<td>2.8K</td>
</tr>
<tr>
<td>WFC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.8</td>
<td>$4.7</td>
<td>$4.8</td>
<td>$57.50</td>
<td>$56.6K</td>
<td>6.6K</td>
<td>435</td>
</tr>
</tbody>
</table>

<h3>About Wells Fargo</h3>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
After a thorough review of the options trading surrounding Wells Fargo, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Wells Fargo's Current Market Status</h3>
<ul>
<li>With a volume of 5,352,677, the price of WFC is down -0.3% at $55.23. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 9 days.</li>
</ul>
<h3>What The Experts Say On Wells Fargo</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $66.0.
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&#x2A; Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Wells Fargo, targeting a price of $65. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Wells Fargo with a target price of $67. 
&#x2A; In a positive move, an analyst from Deutsche Bank has upgraded their rating to Buy and adjusted the price target to $65. 
&#x2A; Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Wells Fargo with a target price of $65. 
&#x2A; An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Wells Fargo, which currently sits at a price target of $68. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Wells Fargo, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

This Is What Whales Are Betting On Wells Fargo

Evercore ISI Group analyst John Pancari maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Outperform and raises the price target from $65 to $68.

Evercore ISI Group Maintains Outperform on Wells Fargo, Raises Price Target to $68

Earlier this month, the Federal Reserve slashed interest rates by 50 basis points at its September Federal Open Market Committee meeting, lowering the federal funds rate in the range of <a target="_blank" href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead" rel="noreferrer noopener">4.75%-5%</a>.
The Fed also hinted at the potential for additional cuts in the coming months, with the updated dot plot revealing a more aggressive rate-cutting trajectory than <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h" rel="noreferrer noopener">forecasted in June</a>.
Morgan Stanley economists anticipate an additional 150 basis points of rate reductions by mid-2025, with the U.S. economy steering clear of a recession.
Morgan Stanley highlights the banks expected to see the greatest net interest margin (NIM) expansion or compression through the end of 2025, based on the projection that short-term rates will decrease by 200 basis points.
Midcap banks are in a stronger position as they experienced greater pressure on deposit costs (higher deposit betas) when interest rates increased. They anticipate this pressure to ease at a similar pace as rates fall.
Also, midcap banks hold more fixed-rate assets that were issued when rates were much lower in 2021 and 2022, allowing for higher repricing even as rates decrease coupled with lower liquidity requirements.
For midcap banks, the analyst identifies Prosperity Bancshares Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PB#NYSE">PB</a>), rated Overweight, as offering the best risk-reward profile. The firm is expected to experience one of the largest net interest margin (NIM) expansions through the fourth quarter of 2025, driven by the upward repricing of fixed-rate loans and securities.
Similarly, Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>), newly rated Overweight, is projected to benefit from a significant rise in NIM as deposit costs decline. It has minimal exposure to floating-rate loans and net cash, which tend to weigh on earnings when interest rates drop.
While M&amp;T Bank Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), the analyst&#8217;s top pick, ranks in the middle of the group, Morgan Stanley writes that future rate cuts will slightly boost NIM—a view that contrasts with the broader market consensus, which sees rate cuts as a long-term negative for margins.
Rate cuts are advantageous for the seven major large-cap banks sensitive to liabilities. These money center banks also have significant revenue exposure to capital markets, likely boosting fee income growth in a low-rate, soft-landing scenario.
Morgan Stanley expects this environment to strongly support M&amp;A and Equity Capital Markets (ECM) activity. Additionally, lower rates are generally a credit positive for the banking sector.
For large-cap banks, Morgan Stanley holds an Overweight rating on Citigroup Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), and Bank of America Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), citing expectations for a rebound in capital markets revenues amid a lower-rate environment and a sharp increase in buybacks following the Basel Endgame reproposal.
Regions Financial Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RF#NYSE">RF</a>) and U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) are favored due to their liability sensitivity and commercial and industrial loan growth potential to accelerate post-rate cuts.
Meanwhile, Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) is highlighted for its strong excess capital levels and the possibility of progress on lifting its asset cap, which could favorably tilt the risk-reward outlook.
Image via Shutterstock
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General

CADE

Wells Fargo, Citigroup, Goldman Sachs Poised For Gains Amid Fed Rate Cuts - Morgan Stanley

Ratings for Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) were provided by 9 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $64.56, a high estimate of $68.00, and a low estimate of $59.00. A decline of 0.29% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1727715642_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Wells Fargo's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$67.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Richard Ramsden</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$65.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$65.00</td>
<td>$67.00</td>
</tr>
<tr>
<td>Matt O'Connor</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Buy</td>
<td>$65.00</td>
<td>-</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$68.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>James Fotheringham</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$59.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>John Pancari</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$67.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$61.00</td>
<td>$62.00</td>
</tr>
<tr>
<td>Ken Usdin</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Hold</td>
<td>$64.00</td>
<td>$62.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Wells Fargo. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Wells Fargo compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Wells Fargo's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Wells Fargo's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/WFC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Wells Fargo analyst ratings.</a>
<h2>All You Need to Know About Wells Fargo</h2>
Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
<h3>Key Indicators: Wells Fargo's Financial Health</h3>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Wells Fargo's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 0.76%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Wells Fargo's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 22.43%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Wells Fargo's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.88%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Wells Fargo's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.24%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Wells Fargo's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.2.
<h2>What Are Analyst Ratings?</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

In-Depth Examination Of 9 Analyst Recommendations For Wells Fargo

Morgan Stanley analyst Betsy Graseck maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Overweight and lowers the price target from $68 to $67.

Morgan Stanley Maintains Overweight on Wells Fargo, Lowers Price Target to $67

Wells Fargo's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) short percent of float has fallen 12.96% since its last report. The company recently reported that it has 32.05 million shares sold short, which is 0.94% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.49 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Wells Fargo Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727362827_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Wells Fargo has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Wells Fargo's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Wells Fargo's peer group average for short interest as a percentage of float is 1.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Wells Fargo?

Wells Fargo Is Said To Send Fed Crucial Review For Lifting Cap

WFMS is a joint venture that is owned 40% by a wholly owned subsidiary of the Company and 60% by Wells Fargo Bank.
The Company acquired its 40% ownership in WFMS through its 2019 merger with First Data Corporation. The joint venture is expected to expire on April&nbsp;1, 2025.
Upon expiration, the Company expects to receive a cash payment or assets equal to the value of its share of the joint venture, as determined in accordance with an agreed upon contractual valuation and separation process.
The Company estimates the impairment charge to be in the range of $400&nbsp;million to $600&nbsp;million.&nbsp;The Company does not expect the impairment to impact the Company&rsquo;s 2024 adjusted earnings per share because it is a&nbsp;non-cash&nbsp;impairment charge.
In addition, the Company does not expect to change its previously communicated medium-term performance outlook for 2025 and 2026 for organic revenue growth of&nbsp;9-12%&nbsp;or adjusted earnings per share growth of&nbsp;14-18%&nbsp;as a result of the expiration of the joint venture.

Guidance

Fiserv Expects To Record Non-cash Impairment Of Carrying Value Of Equity Method Investment In Wells Fargo Merchant Services JV In Q3; Does Not Expect Impairment To Impact 2024 Adjusted EPS - Filing

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PYPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$80.00</td>
<td>$1.5 million</td>
<td>5.0K</td>
<td>2.0K</td>
</tr>
<tr>
<td>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$57.50</td>
<td>$29.4K</td>
<td>9.3K</td>
<td>1.2K</td>
</tr>
<tr>
<td>GPN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$100.00</td>
<td>$26.0K</td>
<td>589</td>
<td>1.0K</td>
</tr>
<tr>
<td>SQ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$62.00</td>
<td>$33.3K</td>
<td>900</td>
<td>835</td>
</tr>
<tr>
<td>CUBI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$42.50</td>
<td>$37.5K</td>
<td>10</td>
<td>502</td>
</tr>
<tr>
<td>V</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$255.00</td>
<td>$72.5K</td>
<td>512</td>
<td>267</td>
</tr>
<tr>
<td>USB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$42.50</td>
<td>$104.9K</td>
<td>837</td>
<td>250</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$195.00</td>
<td>$30.5K</td>
<td>4.0K</td>
<td>177</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/04/24</td>
<td>$167.50</td>
<td>$33.7K</td>
<td>175</td>
<td>157</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$52.50</td>
<td>$29.6K</td>
<td>18</td>
<td>154</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding PYPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), we observe a call option trade with bearish sentiment. It expires in 177 day(s) on March 21, 2025. Parties traded 2000 contract(s) at a $80.00 strike. The total cost received by the writing party (or parties) was $1.5 million, with a price of $760.0 per contract. There were 5089 open contracts at this strike prior to today, and today 2055 contract(s) were bought and sold. 
• Regarding WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we observe a call option trade with bullish sentiment. It expires in 51 day(s) on November 15, 2024. Parties traded 300 contract(s) at a $57.50 strike. The total cost received by the writing party (or parties) was $29.4K, with a price of $98.0 per contract. There were 9343 open contracts at this strike prior to today, and today 1209 contract(s) were bought and sold. 
• Regarding GPN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>), we observe a put option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 70 contract(s) at a $100.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $372.0 per contract. There were 589 open contracts at this strike prior to today, and today 1040 contract(s) were bought and sold. 
• Regarding SQ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>), we observe a call option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 66 contract(s) at a $62.00 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $33.3K, with a price of $505.0 per contract. There were 900 open contracts at this strike prior to today, and today 835 contract(s) were bought and sold. 
• Regarding CUBI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>), we observe a put option sweep with bearish sentiment. It expires in 23 day(s) on October 18, 2024. Parties traded 250 contract(s) at a $42.50 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $37.5K, with a price of $150.0 per contract. There were 10 open contracts at this strike prior to today, and today 502 contract(s) were bought and sold. 
• For V (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), we notice a put option trade that happens to be bearish, expiring in 86 day(s) on December 20, 2024. This event was a transfer of 145 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $72.5K, with a price of $500.0 per contract. There were 512 open contracts at this strike prior to today, and today 267 contract(s) were bought and sold. 
• For USB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), we notice a call option sweep that happens to be bullish, expiring in 268 day(s) on June 20, 2025. This event was a transfer of 200 contract(s) at a $42.50 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $104.9K, with a price of $525.0 per contract. There were 837 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
• For JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we notice a put option sweep that happens to be bearish, expiring in 51 day(s) on November 15, 2024. This event was a transfer of 100 contract(s) at a $195.00 strike. This particular put needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $30.5K, with a price of $305.0 per contract. There were 4051 open contracts at this strike prior to today, and today 177 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option sweep that happens to be bearish, expiring in 9 day(s) on October 4, 2024. This event was a transfer of 50 contract(s) at a $167.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $33.7K, with a price of $679.0 per contract. There were 175 open contracts at this strike prior to today, and today 157 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a call option trade with bearish sentiment. It expires in 359 day(s) on September 19, 2025. Parties traded 32 contract(s) at a $52.50 strike. The total cost received by the writing party (or parties) was $29.6K, with a price of $925.0 per contract. There were 18 open contracts at this strike prior to today, and today 154 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

COIN

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