Stock price when the opinion was issued
Excellent growth rate. Prospects look strong for the company. Would be top US bank to pick at this time. Very strong balance sheet with good lending capabilities. Share price expected to continue to rise. Recent quarter results excellent - continue to beat expectations. Dividend very good and reliable.
US national banks all trade around 13x and have a yield of about 1.5. For WFC, you pay a bit more but get a higher dividend. If you are very yield focused, Wells Fargo is attractive, but if he was going to buy an American bank, he would pick Bank of America (BAC-N). He prefers its balance of commercial and investment banking versus retail banking. Between WFC and BAC, he prefers BAC but does not own either.