#3 - Wells Fargo (NYSE:WFC)
Wells Fargo (NYSE: WFC) Wells Fargo has had some formidable challenges recovering from the financial crisis of 2008. The bank is constrained under an asset cap of $1.95 trillion while it seeks to implement reforms that will convince the market that they will not put their customers into future harm. Back in March, Warren Buffett was absolutely bullish on the stock in the long term. And the long-term view may be what investors need to take. WFC recently announced plans to cut their labor force between 5%-10%, which is a cost-cutting measure as the bank tries to increase their profits while still operating under the Fed’s asset cap. But with a price-earnings ratio around 15.5 and a stock that is trading at a considerably lower price per share than its competitors, it looks to have a nice valuation. If the company can start exceeding, or at least meeting, EPS forecasts, it may be time for investors to give the stock a closer look.
About Wells Fargo & Company
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. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Read More - Current Price
- $59.74
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 13 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $58.99 (1.3% Downside)
