The post How to Buy Wells Fargo (WFC) Stock by Jay and Julie Hawk appeared first on Benzinga. Visit Benzinga to get more great content like this.
Invest in the Wells Fargo stock today with Interactive Brokers as your trusted online brokerage.
Wells Fargo stock is a component of the Dow Jones Financial Index, the S&P 100 and 500 indexes and is considered a “cyclical” stock due to its dependence on the demand for financial services and a healthy economic environment. Trying to decide if it’s right for you? Read on to learn how to buy Wells Fargo stock.
Wells Fargo (NYSE:WFC)
72.300
8.23
[12.85%]
Sell
Trade Now
69.95 – 74.27
40.27 – 74.27
73.3
3.40B
63.69M/17.96M
246.09B
3.40B
1.6/0.0221%
30.150
3.40B
Contents
- How to Buy Wells Fargo Stock Using a Broker
- 1. Pick a Broker
- 2. Evaluate Different Brokers’ Trading Platforms
- 3. Fund your Trading Account
- 4. Buy Wells Fargo Bank Stock
- 1. Pick a Broker
- Best Online Stock Brokers
- Overview: Wells Fargo (WFC) and Stock History
- Future Outlook for Wells Fargo
- Pros of Buying Wells Fargo Stock
- Cons of Buying Wells Fargo Stock
- Pros of Buying Wells Fargo Stock
- Is Wells Fargo Stock for You?
- Frequently Asked Questions
How to Buy Wells Fargo Stock Using a Broker
When you’re ready to invest in Wells Fargo stock, the next step is to understand the process of purchasing it through a broker, which can make your investment journey smooth and efficient.
1. Pick a Broker
Once you know what you need from a broker, you can better determine the best online brokerage for you.
For example, if you need a bank account and a brokerage account, you might try E*TRADE, since it operates an online bank as well as a brokerage. If you have more of a trading background and want to trade multiple assets, then a broker like Interactive Brokers might suit your needs. If you’re looking to trade for free, check out Webull.
2. Evaluate Different Brokers’ Trading Platforms
Most online brokers offer their customers a virtual or demo account to evaluate their platform and practice trading without committing any funds. You can open accounts like this with as many brokers as you want to see how well each trading platform fits your needs. Remember, trading platforms vary from broker to broker, and some include features you will not find with others.
3. Fund your Trading Account
In order to purchase WFC stock, you must deposit funds into a trading account. Depending on how much you budget for your stock purchase, you should deposit at least that amount into the trading account and/or the minimum deposit amount required by the broker, whichever is greater.
Keep in mind that each broker has its own rules for deposits and withdrawals. Most take credit cards and bank transfers for deposits, so make sure you have access to the right method for making deposits.
4. Buy Wells Fargo Bank Stock
Now, put in a bid in for WFC stock. Hopefully, you’ve done enough trading in the demo account to know how to enter a buy order.
You may also want to closely watch WFC stock to get a feel for the market and determine an optimum price to buy at.
Another good idea is to check the news. News can often affect the price of WFC stock and could provide a buying opportunity or signal that better levels may occur in the future.
A good way to determine a price level to purchase Wells Fargo stock is to analyze the stock with technical analysis to get a sense for the best entry price and time to buy. Once you have decided on the level, you can enter a bid either at the market or at the lower price level you think best.
Best Online Stock Brokers
Claim Exclusive Offers
get started
securely through Interactive Brokers’s
website
Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 150 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.
IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.
Best For
- Access to international markets
- Active traders
- Detailed mobile app that makes trading simple
- Wide range of available account types and tradeable assets
- IB SmartRouting provides significant price improvement vs. industry
- Fractional trading allows investing regardless of share price
- Industry’s lowest margin rates
- Earn more by lending your fuly-paid shares
- Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources
get started
securely through Plus500’s
website
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Plus500 is an online CFD broker focusing on contracts for difference (CFDs). CFDs are similar to binary options in the U.S. where traders take all-or-nothing speculation on the prices of certain securities like indices, commodities or currencies. While not legal to trade in the U.S., CFDs are legal in many jurisdictions across the globe and Plus500 offers a wide array of tradable markets using these instruments.
Plus500 doesn’t charge commission and only profits off the spread, which is the difference between the buy and sell price of a specific security. But Plus500 is not a broker for beginners — the education materials are sparse and CFDs are risky derivatives capable of sapping out all of an investor’s capital. Only trade these instruments if you understand how they operate and the risks involved with buying them.
Best For
- Traders looking for a smooth mobile experience
- Great mobile app
- Low spreads and commissions
- Unlimited demo account
- Only derivatives are available
- Not open to U.S. residents
get started
securely through public.com’s
website
Public is the only investing platform that lets you trade stocks, ETFs, crypto, bonds, options and alternative assets—like fine art and collectibles—all in one place. Public also provides access to custom company metrics, live shows about the markets, and insights from a community of millions of investors, creators, and analysts.
Today, Public provides more ways to create a diversified portfolio than nearly any other online broker. Members can engage in sophisticated investing strategies and access a wealth of investing insights—from company-specific analysis to live audio shows and town hall-style Q&As. In addition, Public offers a premium membership tier with unique company KPIs, detailed performance metrics, and institutional-grade research.
Best For
- Stock and ETF investors
- Crypto investors
- Investors looking to diversify with alternative assets or bonds and options
- Commission-free stock and ETF trading
- Fractional share investing
- Advanced data, tools, and insights with Public Premium
- You can’t transfer crypto to another wallet
- No mutual funds or precious metals
- At this time, only offers individual brokerage accounts and not IRAs
get started
securely through Robinhood’s
website
Robinhood is a popular trading platform known for its commission-free trades and user-friendly mobile app. Ideal for novice investors, Robinhood makes it easy to buy and sell stocks, ETFs and cryptocurrencies. The platform offers a straightforward, no-frills experience, making it accessible for users new to investing. With features like fractional shares and a sleek interface, Robinhood lowers the barriers to entry for investing, allowing users to start with just a few dollars. It lacks the advanced tools and research options that more experienced investors might seek. Overall, Robinhood is a great choice for beginners seeking a simple way to invest.
Best For
- Beginners looking for simplicity
- Mobile-first investors
- Commission-free trades
- User-friendly mobile app
- Instant double
- Cash management
- Access to cryptocurrencies
- Limited research tools
- No mutual funds available
- Basic customer support options
get started
securely through TradeZero’s
website
TradeZero is an online broker and free stock trading platform that provides everything you need to successfully share and trade, including round-the-clock customer support. TradeZero provides four different trading state-of-the-art software programs with its services, a locator for sourcing shares for shorting, commission-free trades, and real-time streaming, to name a few of the features promoted on their website. The software is a unique and (potentially) affordable option for anyone interested in stock trading.
Best For
- Traders seeking high transparency and mobility in a stock trading program
- Those attracted to commission-free trades
- Those seeking a free version of a high-quality trading program
- 24/7 live customer support
- Uses ZeroWeb technology, a powerful level 2 online platform with direct market access
- Mobile app allows users to access stocks and trade in real-time while on the go
- Enforces Pattern Day Trading restrictions (accounts need to maintain a daily equity balance of at least $25k)
- Mobile app could offer more features
Overview: Wells Fargo (WFC) and Stock History
Wells Fargo was founded in 1852 by Henry Wells and William George Fargo, who also originally founded the American Express Company. The company was based in San Francisco and intended to take care of the stagecoach express and banking business prompted by the California Gold Rush.
The company transported gold dust and bullion, as well as certificates and other products, moving the merchandise to the Isthmus of Panama and then overland to board ships on the East Coast. By 1866, the company had become the largest stagecoach operator in the West and consolidated all lines under the Wells Fargo name.
Wells Fargo was actually better known for its express stagecoach operation than for its bank by the beginning of the 20th century.
The current bank is known as Wells Fargo & Company and the firm’s primary subsidiary is called Wells Fargo Bank, N.A. as the result of a 1998 merger with Minneapolis-based Norwest Corporation and the subsequent acquisition of Wachovia in 2008.
Future Outlook for Wells Fargo
Wells Fargo stock hit a low of $6.40 per share in 2009 as a result of the global financial crisis, but it has been on an uptrend ever since. WFC stock hit an all-time high of $72.47 per share in November of 2024.
The future outlook for Wells Fargo depends in large part on the prospects for the U.S. economy in the near term, as businesses recover from the pandemic.
Pros of Buying Wells Fargo Stock
- Positive Analyst Research: According to some analysts who follow WFC stock closely, the negative news from recent scandals is already priced into the stock, so many have recommended that their clients buy WFC stock.
- Stock market/business cycle: A widely-anticipated slowing of the U.S. economy would translate into less business for everyone, with cyclical U.S. stocks usually being the first to sell off.
Cons of Buying Wells Fargo Stock
- Internal misconduct: The company has been subject to numerous lawsuits for its own misconduct. For example, in 2016, the bank paid $185 million for the fraudulent creation of 1.5 million checking and savings accounts and 500,000 credit cards that were never authorized by its customers in Los Angeles.
- Loss of consumer confidence: The account fiasco was just one of many lawsuits Wells Fargo has settled for hundreds of millions of dollars. Because of the accounts scandal that took place in 2016, many people have withdrawn their money and business from Wells Fargo. The company still faces an uphill battle to regain public trust.
Is Wells Fargo Stock for You?
Today, Wells Fargo offers an impressive broad-based banking sector investment. It provides its customers with banking, investment and mortgage products and services and offers financial services at 8,050 locations, with more than 13,000 automatic teller machines (ATMs).
Wells Fargo also has a presence in 35 countries and serves 1 in every 3 households in the United States. The company was ranked at number #47 on Fortune’s 2023 ranking of the largest U.S. corporations.
The bank, along with JP Morgan Chase, Citigroup and Bank of America, is currently one of the “Big Four” banks in the United States, which makes it attractive for many investors looking closely at the financial sector.
Nevertheless, due to its cyclic nature, WFC stock would do best in an economic upswing, such as the one we’ve experienced for the past several years, although the future economic climate may not be as favorable for the bank. Wells Fargo also has a number of headwinds to overcome and so its stock may not be the best way to invest in the current market environment.
Watch the business cycle, too, which appears to be topping out as can be witnessed by the flat yield curve and soft real estate prices, and a future economic decline will negatively impact all cyclical stocks like WFC. While WFC could gain modestly in the short term, given the current market and economic environment, defensive stocks seem to be more suitable for long-term and medium-term investments.
Want to learn more? Check out Benzinga’s guides to the best bank stocks, the best financial services stocks, how to trade stocks for free and the best online brokerages.
Frequently Asked Questions
Is Wells Fargo a good long-term investment?
The potential for a good long-term investment in Wells Fargo depends on various factors, including its performance, market conditions, and individual investment goals. It’s advisable to conduct thorough research or consult with a financial advisor before investing.
Answer Link
How often does Wells Fargo pay dividends?
Wells Fargo typically pays dividends quarterly. The specific dividend amount and payment schedule can be found in the company’s financial reports or announcements.
Answer Link
Who are Wells Fargo’s main competitors?
Wells Fargo’s main competitors include other major banks such as JPMorgan Chase, Bank of America, Citigroup and U.S. Bancorp.
Answer Link
The post How to Buy Wells Fargo (WFC) Stock by Jay and Julie Hawk appeared first on Benzinga. Visit Benzinga to get more great content like this.