From Nasdaq, Inc.:

Wells Fargo stock has surged over 20% in the past 90 days, reaching its highest levels since early 2022.

Wells Fargo stock has surged due to various positive news, but the high valuation seems to be a contributing factor.

Interest rate hikes expected to improve loan charge-offs and make banks better equipped for an economic downturn.

Wells Fargo stock has reached a higher price-to-book multiple but may still offer long-term profit opportunities.

Investors considering Wells Fargo stock should consider its bargain price and the potential ending of growth restrictions.



Read more: Is Wells Fargo Stock Still a Buy After Its Recent Surge?