AFRM, BLK, WFC: Top 3 Financial Stocks Which Generated Heavy Retail Buzz Last Week

Affirm Holdings (AFRM), BlackRock (BLK), and Wells Fargo (WFC) drew heavy retail chatter among financial stocks over the past week.

Affirm Holdings: 600% rise in retail chatter

The buy now, pay later (BNPL) strategy garnered retail attention after Truist Securities initiated coverage with a 'Buy' rating and a price target of $58.

According to TheFly, the brokerage believes Affirm has created a high-quality offering that provides meaningful value to both sides of their network.

However, Truist analysts noted that Wall Street does not account for the worst macro backdrop in their "revenue less transaction costs" yield forecast.

The brokerage expects Affirm's volume growth and market share gains to remain "robust."

The company had forecasted fourth-quarter revenue below Wall Street's expectations, as it expected growth to moderate from the highs of April.

Affirm stock has fallen 5.3% this year.

BlackRock (BLK): 500% rise in retail chatter

The world's top asset manager drew retail chatter after the company was removed from a Texas blacklist, which prohibited funds from the Lone Star State from dealing with BlackRock.

Texas had added BlackRock to the blacklist after accusing the company of targeting fossil fuel companies and promoting liberal viewpoints.

Additionally, a Bloomberg report said the company would lay off around 300 employees amid its efforts to rein in costs after several acquisitions to bolster its private credit markets portfolio.

BlackRock stock has fallen 4% this year.

Wells Fargo: 133% jump in retail chatter

The Federal Reserve lifted an asset cap imposed on the lender after seven years of punishment following a fake accounts scandal.

The Fed's move would help Wells Fargo, the fourth-largest U.S. bank, close the gap with its peers. It would allow Wells Fargo to issue more loans, boost its deal-making business, and increase credit card offerings, among other benefits.

Several brokerages raised the price target for the stock after the $1.95 trillion asset cap was lifted.

According to The Fly, Evercore analysts noted that the near-term benefit to shares is likely to be modest, given that the cap lift was widely anticipated.

Still, the brokerage was "particularly constructive on the longer-term outlook" for shares as it expects investors' focus to shift to earnings implications over time.

Wells Fargo stock has gained 8.3% this year.

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