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Wells Fargo & Company (WFC-PY)

NYSE - Nasdaq Real Time Price. Currency in USD
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25.88+0.10 (+0.39%)
At close: 4:00PM EST
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  • H
    Hairy
    Reuters today:
    Star stockpicker Cathie Wood remains bullish on bitcoin, warns on banks:
    ARK Invest founder and chief investment officer Cathie Wood reiterated her bullish position on bitcoin on Wednesday while warning that the growth of digital wallets will “gut” traditional banks.
  • J
    JJ
    There was an article about what Michael blurry is currently invested in. Wfc was one of them and he thinks there is a lot of upside - Wells getting past scandals, removing asset cap, economy restarting, in addition to dividend. All things longs have mentioned here but always good to see a professional confirm the same thing.
  • J
    John
    Will WFC make it to $47 this year?
  • m
    moh
    I believe that there is nothing fundamentally wrong with Wells Fargo’s business that cannot be fixed, and once they can return to normal operations without the fake account nonsense then I expect they will return to earning returns slightly lower than historical norms. If Wells Fargo uses 100% of its earnings to repurchase shares over the next 3 years, Wells can retire 25% of its outstanding stock. By 2023, WFC could earn $6+ per share. At 10x earnings, a very low multiple given the rest of the stock market trades at 22x earnings, Wells Fargo could fetch $60 per share
  • M
    Monday
    Why BRIAN is going to lose all his money on a bad YOLO

    Shares of Wells Fargo were up 21.1% in February, according to data provided by S&P Global Market Intelligence, as the bank reportedly hit a key milestone in its recovery.
  • C
    Carl
    CNBC analysts are still touting WFC at these levels. Just said they are buying and it has a long way to go. Hang on and enjoy the ride.
  • C
    Carl
    Funny that some are warning about too much stimulus which is mainly going to go to the unemployed, small businesses, cities and states for vaccine admin. costs, school safety improvements, low income families with kids, etc. I didn't see such concern when we had one of the biggest corporate tax cuts in our history a couple of years back.

    Hey, better we overshoot then undershoot as many people are desperate for help. I never thought I would see so many people on food lines in America while the stock market is at record highs.

    But, hey, as a WFC stock holder, I think WFC will benefit by a stronger economy where more people will be able to participate and stay afloat until we come back to normal employment levels. Good luck!
  • J
    JHB
    jmd, don't leave, keep posting. The reason I read this forum is to see your financial input and spot on financial analysis.
  • J
    John
    i have 87000 shares of WFC, new to investing. can anyone tell me why it is up so much today ? tia
  • M
    Monday
    Great bounce of support >> another superbly green Friday? Sounds great to me
  • N
    None
    although I have my doubts about Wells shedding their asset management team, there is someother glimmers of things being well run. Congratulations are very much in order for Wells landing business from LPI. WFC will handle LPI' $75 million equity offering brokering stock for a 2.5% fee.
  • G
    Gabjoey
    "Mortgage origination is still growing year-over-year," even as many were expecting it to slow this year, said Wells Fargo (NYSE:WFC) Chief Financial Officer Mike Santomassimo during a Q&A session at the Credit Suisse Financial Service Forum.
    "It's still pretty robust" so far in the first quarter, he said.
    WFC rises 0.6% before the market opens.
    Commercial loan growth, though, is still "pretty weak across the board" and is declining Q/Q.
    Credit trends "continue to be really good... performance is better than we expected."
    As for the Federal Reserve's asset cap on WFC, Santomassimo stresses that the bank is "focused on the work to get the asset cap lifted." Once the bank accomplishes that, "we do think there's going to be demand and the opportunity to grow across a whole range of things."
    One area for opportunities is WFC's credit card business. "The card portfolio is under-sized. We do think there's opportunity to do more there while we stick to" credit risk discipline, he said. "I do expect that mix to evolve gradually over time."
    As for guidance, Santomassimo still sees 2021 interest revenue flat to down 4% from the annualized Q4 rate and still sees expenses at ~$53B for the full year, excluding restructuring costs and costs to divest businesses.
    Expects part of student loan portfolio divestment to close in Q1 with the rest closing in Q2. The bank will take a $185M goodwill writedown due to that divestment, but overall will see a gain on the sale.
    WFC has bought back a "modest amount" of stock in Q1, he added.
    While dividend decisions are made by the board, as conditions improve "we would expect there to be a gradual increase in dividend to get to a more reasonable payout ratio," Santomassimo said.
    Now read: Royal Bank of Canada 2021 Q1 - Results - Earnings Call Presentation
  • A
    Anthony
    Chaaaaachinggggg. Up 15 percent today on my overall account from BAC and WFC calls.
  • T
    TR
    Looking forward to real dividends!

    "Banks are required to submit their capital plans to the Fed by April 6. The central bank will announce the results of stress tests by June 30."

    That's when the Fed will announce share buyback and dividend restrictions going forward (if any).

    Currently, banks can distribute cash to shareholders through buybacks as well as dividends, as long as those total amounts are no greater than the average of a bank’s earnings over the past four quarters.

    As WFC's worst quarters begin to roll off, and better quarters roll in, their prior 4-quarter average earnings will go up and allow bigger dividends even with the restrictions currently in place.
  • L
    Larry
    $46.95 a year ago, headed back to new highs
  • B
    B
    WFC will be a 70 dollar stock real fast with the cap restrictions lifted. I have half my position on, looks like I’m behind the ball. Adding the next two days
  • C
    Carl
    Another analyst upgrade to $42. I believe it was Raymond James. Still a lot of upside in my opinion.
  • U
    Upbeat
    Pretty amazing move on a mixed market day. WFC rotation is on fire.
  • S
    Slightly Savage
    I’ve been seeing a lot of dd on how burry has a large holding in this at 33. I like that the book value is less than 1. I don’t think that’s very common. Anyone care to share some dd on this with me?
  • U
    Upbeat
    WFC is cheap right now. Bond yields are rising. Inflation is on the horizon. WFC was $50 pre pandemic and this was during a time when the bank was just beginning to make big changes. The Fed just approved WFC's remediation plan. There is a great chance the asset cap could come off soon because the Fed needs to find room to park their 1.1T in liquidity - WFC's could accommodate 500B. It is no coincidence the Fed gave approval for the remediation plan. The economy is recovering. Covid vaccines. Gov spending. Infrastructure bill next. Good times ahead for financial sector.