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Author Topic: wells fargo a great play
raybond
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one stock that I have been playing is wells fargo. I have made some serious bank just today has been my last trade and I will be looking to get back in

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
raybond
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april 13th is when wells will announce its earnings and then I shall go from there.

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
raybond
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nobody seems to care so I have not posted on this pick and I am not going to

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
Bob Frey
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Like most of the banks here.... But waiting for m,ore info on who is going to get creamed as the BK's roll in.
Posts: 3391 | From: Cleveland, Ohio | Registered: Jan 2000  |  IP: Logged | Report this post to a Moderator
raybond
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h current time I cannot recommend wells fargo

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
raybond
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could be a rare opportunity to add U.S. Bancorp to your portfolio at a big discount.

After a few difficult years, could this bank turn the corner?

Like U.S. Bancorp, Wells Fargo doesn't have a large investment banking operation, so it too has been hard-hit by the coronavirus pandemic. Unlike U.S. Bancorp, however, Wells Fargo had been underperforming the financial sector for several years, due to its fake accounts scandal and numerous other misbehaviors that led the Federal Reserve to slap it with an unprecedented growth-restricting penalty.

In all, Wells Fargo has lagged the financial sector by a staggering 82 percentage points (total return of -46% versus a gain of 36%) since 2016 and now trades for just 65% of its book value. Just to put this into perspective, prior to its scandals, Wells Fargo was regularly in the same price-to-book-value neighborhood as U.S. Bancorp.

Wells Fargo has generally high asset quality and is highly profitable. If it hadn't added $8.4 billion to its loan loss reserves in the second quarter, the bank would have generated a $6 billion net profit. New CEO Charlie Scharf is doing a great job of helping the bank move on from its troubled recent history, and incoming CFO Mike Santomassimo has a fantastic track record when it comes to expense reduction, which is a major priority for Wells now.

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
raybond
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Wells Fargo's stock gains after UBS backs away from bearish view

Published: Sept. 11, 2020 at 1:25 p.m. ET

By Tomi Kilgore





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Shares of Wells Fargo & Co. WFC, +1.33% rose 0.3% in afternoon trading Friday, after UBS analyst Saul Martinez backed away from his bearish view on the bank, citing potential expense leverage and a more balanced risk-vs.-reward profile given the stock's underperformance this year. The stock has tumbled 55.2% year to date, while the PHLX/KBW Bank Index BKX, +1.38% has dropped 33.0% and the S&P 500 SPX, +0.05% has gained 2.9%. From the post-COVID-19 closing lows, Wells's stock has gained just 7.0% while the bank index has rallied 35.2% and the S&P 500 has soared 48.6%. UBS's Martinez raised his rating to neutral, after being at sell the past four months, and lifted his price target to $24 from $21. He said that while revenue headwinds persist, he has greater confidence in expense reductions and sees potential for multiple expansion towards peer levels as valuations have been discounted to after the stock's underperformance. "Unlike many banks, Wells Fargo has ample room to reduce costs beyond 2022, an important differentiator in a persistently low interest rate environment," Martinez wrote in a note to clients

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
raybond
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Shares of Wells Fargo & Co. WFC, +1.33% rose 0.3% in afternoon trading Friday, after UBS analyst Saul Martinez backed away from his bearish view on the bank, citing potential expense leverage and a more balanced risk-vs.-reward profile given the stock's underperformance this year. The stock has tumbled 55.2% year to date, while the PHLX/KBW Bank Index BKX, +1.38% has dropped 33.0% and the S&P 500 SPX, +0.05% has gained 2.9%. From the post-COVID-19 closing lows, Wells's stock has gained just 7.0% while the bank index has rallied 35.2% and the S&P 500 has soared 48.6%. UBS's Martinez raised his rating to neutral, after being at sell the past four months, and lifted his price target to $24 from $21. He said that while revenue headwinds persist, he has greater confidence in expense reductions and sees potential for multiple expansion towards peer levels as valuations have been discounted to after the stock's underperformance. "Unlike many banks, Wells Fargo has ample room to reduce costs beyond 2022, an important differentiator in a persistently low interest rate environment," Martinez wrote in a note to clients

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Wise men learn more from fools than fools from the wise.

Posts: 3824 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
   

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