Wells Fargo
WFC-N
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About Wells Fargo (WFC-N)
Wells Fargo & Company is an American international banking and financial services holding company headquartered in San Francisco, California, with "hubquarters" throughout the country.
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Opinion
Expert
DON'T BUY
DON'T BUY
September 11, 2019
US banks have popped in last few days. He's underweight US banks. Still reeling from accounting scandal. Technicals are weak. Barely above the 200-day moving average. Flattening yield curve affecting it negatively. Net interest margins are weak. Value play, dividend is nice. Growth and total return weak.
US banks have popped in last few days. He's underweight US banks. Still reeling from accounting scandal. Technicals are weak. Barely above the 200-day moving average. Flattening yield curve affecting it negatively. Net interest margins are weak. Value play, dividend is nice. Growth and total return weak.
investment companies/funds
DON'T BUY
DON'T BUY
August 19, 2019
It had issues with management. The US banking sector has been under pressure from the interest rate side. It is not a sector he is diving into. MS-N has the wealth management part of the business.
It had issues with management. The US banking sector has been under pressure from the interest rate side. It is not a sector he is diving into. MS-N has the wealth management part of the business.
investment companies/funds
HOLD
HOLD
August 14, 2019
Every bank will struggle in a flat yield curve as they borrow short term and lend long term. They also have other products to help against this. WFC-N has made some mistakes that has gotten them in trouble, but they will need a new CEO to change favour. They hold it and will continue to do so.
Every bank will struggle in a flat yield curve as they borrow short term and lend long term. They also have other products to help against this. WFC-N has made some mistakes that has gotten them in trouble, but they will need a new CEO to change favour. They hold it and will continue to do so.
investment companies/funds
TOP PICK
TOP PICK
July 3, 2019
He likes that there is still a dark cloud hanging over them -- a contrarian pick. They currently are without a CEO, but that will get resolved in the near future. Yield 3.78% (Analysts’ price target is $51.48)
He likes that there is still a dark cloud hanging over them -- a contrarian pick. They currently are without a CEO, but that will get resolved in the near future. Yield 3.78% (Analysts’ price target is $51.48)
investment companies/funds
TOP PICK
TOP PICK
July 3, 2019
True, they're under a lot of scrutiny and are looking for a new CEO, but they have an excellent capital position and just passed their stress test. They've raised their dividend and he expects them to raise it by 10%. They just announced 11% stock buybacks. This will support the stock price. They won't get hurt as much by the squeezed margins on the yield curve. (Analysts’ price target is $51.48)
True, they're under a lot of scrutiny and are looking for a new CEO, but they have an excellent capital position and just passed their stress test. They've raised their dividend and he expects them to raise it by 10%. They just announced 11% stock buybacks. This will support the stock price. They won't get hurt as much by the squeezed margins on the yield curve. (Analysts’ price target is $51.48)
investment companies/funds
COMMENT
COMMENT
June 25, 2019
There continues to be a hangover over the falsification of client records a few years ago for WFC-N. It will go away over time and Warren Buffet still owns his shares. He would tie into a higher yield play. He would lean towards Bank of America.
There continues to be a hangover over the falsification of client records a few years ago for WFC-N. It will go away over time and Warren Buffet still owns his shares. He would tie into a higher yield play. He would lean towards Bank of America.
investment companies/funds
DON'T BUY
DON'T BUY
June 24, 2019
Don't buy any US stocks for the dividend--you get taxed and suffer currency fluctuation. But he likes US banks because there's growth. That said, he wouldn't buy WFC.
Don't buy any US stocks for the dividend--you get taxed and suffer currency fluctuation. But he likes US banks because there's growth. That said, he wouldn't buy WFC.
investment companies/funds
HOLD
HOLD
May 22, 2019
Dividend safe? He bought this when it was under temporary trouble last year. It was involved in front running customers and other issues and still do face sanctions. It sells at a discount to other US banks. The dividend is safe, he thinks. Not much downside here.
Dividend safe? He bought this when it was under temporary trouble last year. It was involved in front running customers and other issues and still do face sanctions. It sells at a discount to other US banks. The dividend is safe, he thinks. Not much downside here.
investment companies/funds
DON'T BUY
DON'T BUY
April 22, 2019
BAC vs. WFC He sold WFC after briefly owning it, after hearing of its corporate malfeasance. Since, then, WF stock price has treaded water. The US Fed did an about-face by saying they will keep rates flat. So, he pared down his US bank holdings including BAC.
BAC vs. WFC He sold WFC after briefly owning it, after hearing of its corporate malfeasance. Since, then, WF stock price has treaded water. The US Fed did an about-face by saying they will keep rates flat. So, he pared down his US bank holdings including BAC.
investment companies/funds
SELL
SELL
March 21, 2019
There are more issues with this one than the others. The Fed is now monitoring them and have them under restrictions. He sold within 10 days of the news items about the pervasiveness of the problems. There are other companies you can go to that don’t present the issues this one does.
There are more issues with this one than the others. The Fed is now monitoring them and have them under restrictions. He sold within 10 days of the news items about the pervasiveness of the problems. There are other companies you can go to that don’t present the issues this one does.
investment companies/funds
COMMENT
COMMENT
February 5, 2019
BAC vs. Wells Fargo Both are well-run, with BAC trading at a slightly lower multiple, so he favours BAC. Also, Wells has a scandal to still deal with it and management issues, which is why he's stayed away from it. A rising yield curve boosts all the US banks, so that's's now a headwind as rate increases slow down. Both benefit from a strong US economy.
BAC vs. Wells Fargo Both are well-run, with BAC trading at a slightly lower multiple, so he favours BAC. Also, Wells has a scandal to still deal with it and management issues, which is why he's stayed away from it. A rising yield curve boosts all the US banks, so that's's now a headwind as rate increases slow down. Both benefit from a strong US economy.
investment companies/funds
DON'T BUY
DON'T BUY
February 1, 2019
This is lagging their peers in the US financial space. If interest rates increase, earnings will grow. He thinks their reputation still needs some improving before it brings back investors.
This is lagging their peers in the US financial space. If interest rates increase, earnings will grow. He thinks their reputation still needs some improving before it brings back investors.
investment companies/funds
COMMENT
COMMENT
January 18, 2019
He owns three US banks and one Canadian. He owns WFC-N instead of BAC-N, when it the market became worried about management changes there that created an oversold situation. BAC-N is a fine one as well.
He owns three US banks and one Canadian. He owns WFC-N instead of BAC-N, when it the market became worried about management changes there that created an oversold situation. BAC-N is a fine one as well.
investment companies/funds
PAST TOP PICK
PAST TOP PICK
January 4, 2019
(A Top Pick May 31/18, Down 12%) Exit level was $50.50. Needs to move above $48.20 before you buy. There are opportunities other than banks in the market right now.
(A Top Pick May 31/18, Down 12%) Exit level was $50.50. Needs to move above $48.20 before you buy. There are opportunities other than banks in the market right now.
investment companies/funds
Jeff Parent B. Eng. FCSI CIM
VP & Portfolio Manager, Chief Investment Officer, Castlemoore Inc.
$47.950
No
PAST TOP PICK
PAST TOP PICK
December 13, 2018
(A Top Pick Jul 24/18, Down 11%) Just added some today. It had performed better than other banks in the US until just recently. A great opportunity to pick up the stock. They are working on their issues. Yield is 3.5% and it is trading at 12 times earnings. Their hands are tied behind their back but he thinks that is going to end in the second half of 2019 and they are showing good growth and profitability. You can't go wrong.
(A Top Pick Jul 24/18, Down 11%) Just added some today. It had performed better than other banks in the US until just recently. A great opportunity to pick up the stock. They are working on their issues. Yield is 3.5% and it is trading at 12 times earnings. Their hands are tied behind their back but he thinks that is going to end in the second half of 2019 and they are showing good growth and profitability. You can't go wrong.
investment companies/funds
Comments
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