Wells Fargo Shares Target $94.60 After Strong Q2 Results

A new corporate earnings season began in the United States this week, with the banking sector traditionally among the first to report. The results were generally positive and exceeded analysts’ expectations. Against this backdrop, experts at Keefe, Bruyette & Woods revised their outlook for Wells Fargo & Company shares, lowering the price target from 98 dollars to 94 dollars while maintaining a Market Perform rating. The analysts noted that the current share price largely reflects the bank’s strong second-quarter results, including a 5% increase in net interest income and a 13% rise in non-interest income. Return on equity increased to 17.7%, bringing the figure close to the bank’s long-term target range. Analysts also highlighted growth not only in traditional banking but also in wealth management, commercial banking and investment services.

The bank published its financial results for the second quarter of 2026 on July 14. Revenue reached 22.62 billion dollars, up from 21.45 billion dollars in the previous quarter. The figure also showed solid growth compared with 21.32 billion dollars in the same period a year earlier. Earnings per share amounted to 2.00 dollars, exceeding both the 1.60 dollars reported a year earlier and the same 1.60-dollar result recorded in the previous quarter.

The dividend on common shares for the fourth quarter of 2025 was declared in late spring. The latest payment, made on June 1, amounted to 0.45 dollars per share, equivalent to a dividend yield of 2.27%. This remains below the sector average of 3.05%.

Support and resistance levels

On the daily chart, the price continues to trade within a corrective trend while attempting to move closer to the resistance line of the ascending channel, whose boundaries are located at 90.00 and 85.00.

After a brief slowdown, technical indicators have resumed strengthening their buy signals. The range between the Alligator indicator’s EMA lines continues to widen upwards, while the Awesome Oscillator histogram remains above the zero line despite forming corrective bars.

Support levels: 85.50, 80.00.

Resistance levels: 89.00, 94.60.

Wells Fargo & Co. Trading Scenarios and Share Price Forecast

If the asset continues to rise and the price consolidates above the local resistance level of 89.00, long positions may be opened with a target at 94.60. The stop-loss should be placed at 86.00. Implementation period: seven days or more.

If the asset continues to decline and the price consolidates below the local support level of 85.50, short positions may be opened with a target at 80.00. The stop-loss should be placed at 88.00.