Global rout in bank shares intensifies as recession fears mount
Written by Emily J. Thompson, Senior Investment Analyst
Source: Reuters
Global Bank Stock Decline: Japanese bank stocks experienced their worst weekly loss in over 40 years, with major banks like Mitsubishi UFJ and Mizuho Financial Group seeing declines of more than 20%, amid fears of a global recession exacerbated by U.S. trade policies.
Market Reactions and Predictions: The significant drop in bank shares has led to a flight to safety in bonds, causing a historic decline in Japanese government bond yields, while expectations for interest rate hikes by the Bank of Japan have diminished significantly.
Analyst Views on WFC
Wall Street analysts forecast WFC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WFC is 98.66 USD with a low forecast of 74.00 USD and a high forecast of 113.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
10 Buy
6 Hold
1 Sell
Moderate Buy
Current: 88.040
Low
74.00
Averages
98.66
High
113.00
Current: 88.040
Low
74.00
Averages
98.66
High
113.00
About WFC
Wells Fargo & Company is a financial services company. The Company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions. The Company operates through four segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. The Company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the Company offers financial planning, private banking, investment management, and fiduciary services. It also provides financial solutions to businesses through products and services including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
