Wells Fargo’s stock has seen an increase following the Federal Reserve’s decision to lift the asset cap that was imposed on the bank seven years ago. This move allows Wells Fargo to grow its total assets once again, marking the end of a long-standing penalty from a 2018 consent order. The bank has announced a special employee award in response to this development. Industry analysts have noted this as a significant moment for the bank, with some raising their price targets on Wells Fargo’s stock.
— new from Barron’s