Added to YB: 2023-04-02
Pitch date: 2023-04-02
WFC [bullish]
Wells Fargo & Company
+141.04%
current return
Author Info
No bio for this author
Company Info
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally.
Market Cap
$264.3B
Pitch Price
$34.33
Price Target
N/A
Dividend
2.29%
EV/EBITDA
N/A
P/E
12.70
EV/Sales
N/A
Sector
Banks
Category
value
Wells Fargo (WFC)
WFC: Initiating long on 4th-largest US bank, too-big-to-fail w/ sticky middle-class deposit base. Asset cap kept capital undeployed at low rates; now NIM surged 2.1%→2.7%. Stock -20% on industry panic, unfairly. FY EPS $5 (record), sees $6.50 normalized. At <8x fwd (~6x normalized), 3.2% yield; targets 10x earnings re-rating post-scandal cleanup + buybacks.
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