10 Most Profitable Cheap Stocks to Buy Now

7. Wells Fargo & Company (NYSE:WFC)

Forward P/E: 12.52

TTM Net Income: $18.91 Billion

Number of Hedge Fund Holders: 96

Wells Fargo & Company (NYSE:WFC) is an American multinational financial services company that provides a wide range of banking, investment, and mortgage products and services. The company also specializes in consumer and commercial finance. It operates through 4 segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo & Company (NYSE:WFC) is one of the most profitable cheap stocks to buy now.

Phillip Securities upgraded its rating on Wells Fargo & Company (NYSE:WFC) from “Accumulate” to “Buy” but reduced the price target from $85 to $75. This decision follows the bank’s recent stock performance after its Q1 2025 earnings report. Phillip Securities expects 2025 to be a “slow but stable” year for Wells Fargo & Company (NYSE:WFC). The firm’s analyst predicts that net interest income will recover in fiscal 2025 and ongoing efficiency initiatives will result in lower expenses.