Wells Fargo reports mixed results as Citigroup cuts target for Wells Fargo stock

Published on 10/20/2026 at 11:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citigroup cut its target from USD 90.00 to USD 88.00 on October 14, 2026. Wells Fargo stock costs EUR 73.18 on October 20, 2026.

Target cuts and quarterly earnings

Citigroup lowered its target from USD 90.00 to USD 88.00 on October 14, 2026.
Third-quarter earnings per share reached USD 1.87 against USD 1.85 expected.
Wells Fargo stock traded at EUR 73.18 at 11:04 a.m. CEST at Lang & Schwarz on October 20, 2026.

Dokumentarische Schwarzweiß-Aufnahme Bankgebäude, Wells Fargo & Co., US9497461015 — Schwarz-weiß-Reportage zeigt Bankgeschäft der Branche von Wells Fargo & Co., ISIN US9497461015, im Finanzviertel, Illustration mit AI erstellt.

Wells Fargo & Co. stock is priced at EUR 73.18 at Lang & Schwarz on October 20, 2026, while Citigroup had cut its target from USD 90.00 to USD 88.00 on October 14, 2026. The latest quarterly report showed earnings strength alongside a revenue shortfall.

According to MarketBeat, Citigroup kept a neutral rating while lowering the price target. The report also cited an average target of USD 98.08 across 25 brokerages, giving the bank's latest target-cut cycle a clear market context.

What does the revenue miss mean?

Wells Fargo reported third-quarter earnings per share of USD 1.87 against USD 1.85 expected, according to CNBC on October 13, 2026. Revenue reached USD 21.87 billion, below the USD 22.30 billion consensus. The result shows that cost control and profitability helped offset softer top-line momentum.

Operating trends were mixed. Wealth and investment management revenue increased 12 percent year over year in the third quarter, while consumer banking and lending rose 5 percent, corporate and investment banking grew 3 percent, and commercial banking advanced 6 percent, CNBC reported on October 13, 2026. The bank also opened more than 660,000 new credit-card accounts during the quarter.

Three dates define the recent path

On October 5, 2026, Morgan Stanley upgraded Wells Fargo to overweight from equal weight and named it a top pick with a USD 102.00 target, according to CNBC. On October 13, 2026, Wells Fargo reported third-quarter earnings per share of USD 1.87 and revenue of USD 21.87 billion. On October 14, 2026, Citigroup lowered its target from USD 90.00 to USD 88.00 while maintaining a neutral rating.

The market question is whether loan and deposit growth can translate into faster revenue expansion. Third-quarter average loans and deposits each increased 11 percent year over year, while net interest income rose 5 percent to USD 12.52 billion, according to Investing.com. That gap leaves execution and margin stability as the central investor test.

Stock indication in euros

Wells Fargo stock was trading at EUR 73.18 at Lang & Schwarz on October 20, 2026 at 11:04 a.m. CEST. The primary listing is on the NYSE, where the last quoted price was USD 81.80 on October 19, 2026 at 4:00 p.m. ET. The further course of trading is shown by the continuously updated real-time quote of Wells Fargo stock.