Use access key #2 to skip to page content.

Some of the reasons I hold Wells Fargo

Recs

3

April 17, 2012 – Comments (5) | RELATED TICKERS: WFC

A few points from a WFC SWOT following the recent earnings report:

- This quarter's net income continues a string of increases dating to 2010's first quarter.

 - Passing the stress test allowed for a significant increase in its dividend, which is now up to a respectable 2.7%.

 - Non-interest expenses are projected to fall by more than $1 billion this year as the Wachovia integration wraps up and cost reductions take hold.

 - Financial troubles may push European banks to sell off choice assets to raise capital. For example, Wells Fargo expects to close the acquisition of BNP Paribas' North American energy lending business this month.

A few more, along with some weaknesses and threats, are in the article.  And I didn't even fall back on 'Buffett owns it.'

Disclosure:  Long WFC.

Fool on!

Russ

 

5 Comments – Post Your Own

#1) On April 17, 2012 at 10:39 PM, Option1307 (29.95) wrote:

Never been able to pick up any shares of this but always has looked promising. Good thoguhts, +1.

Report this comment
#2) On April 17, 2012 at 10:41 PM, Option1307 (29.95) wrote:

Financial troubles may push European banks to sell off choice assets to raise capital.

This is certainly a reasonable possibility but man oh man Santander (STD) has been looking cheap recently and am seriously thinking about adding to my holding at these levels!

Report this comment
#3) On April 17, 2012 at 11:32 PM, rd80 (98.03) wrote:

I need to take another look at Santander.  Tagged it with a CAPS green thumb about a year ago - not my best stock picking moment.  But, it looked cheap back then; I thought the eurozone troubles were pulling it down more than they should - at the time I think more than half of revenue was from outside Europe and even much of the euro revenue was in stronger countries. 

Now it's much cheaper - classic 'value or value trap' question.

 

Report this comment
#4) On April 18, 2012 at 12:39 PM, lemoneater (75.49) wrote:

You own my mortgage :). It is with Wells Fargo.

Report this comment
#5) On April 18, 2012 at 8:48 PM, rd80 (98.03) wrote:

Always to good to hear from you and thanks for contributing to my retirement. :)

Report this comment

Featured Broker Partners


Advertisement