Wells Fargo & Company (NYSE:WFC)
One of the country’s largest banks, Wells Fargo provides retail, commercial, and corporate banking services and is a leading residential mortgage lender.
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Wells Fargo's good management and profit from acquisition of Wachovia will keep this stock strong.
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Long term goal
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Well managed, well run, banking stocks still too low to reflect value.
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Valued company with growth protential
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Wait for pull back to 25 for reentry
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Nothing has been beaten down more than financials! WFC is one of the strongest banks out there and has Warren's blessing. I'm looking for a double in 5 years and I'm putting my first house downpayment on this bet! (Roth IRA).
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Just a hunch.
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Much of the success or growth of Wells Fargo has likely been built into the current share price compared to the likes of Bank of America or Citi, but with that said, Wells Fargo should continue to grow and further expand to the Eastern seaboard. That is where the real opportunity for growth will be for Wells Fargo. With the increase in mortgage rates to about 5.5%, the rush to refi has slowed, but Wells Fargo does solid business, will continue to build their books and be a stable value.
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Great earnings power, competition in banking industry shrinking, margins are increasing. Once housing begins to recover look for Wells to accelerate.
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This stock will outperform the S&P because like other financial companies it was oversold as the result of panicked investors. This company is stronger than it appears and it acquisitions will produce record revenue inside of the next twelve months (June 2010).
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why WFC and FAZ you may ask?
I like the company, I like the mgmt, I like the fact that this company is a survivor
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OPTIONS ARMS IN cALIFORNIA
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Overpriced in consideration of ALT-A resets and shadow inventory.
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outstanding shape financially
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I recommended this stock back when Cramer was talking about his fortress four. Of the three I recommended, this one has held its value the best. Eventually, bank stocks will recover, and I'm holding onto this one for that time.
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WFC is one of the few well-managed U.S. banks. It has a great cash flow considering the current credit crisis. Plus, Warren Buffet just added more shares of the company.
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recover from the real estate crash.
Plus it's one of the most capitalized banks in the world
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A recap of why Buffett likes WFC:
$1.3 trillion in assets x 4% earnings on its assets = $30 to $40 billion in profits.
Of course, this is once the bad loans from Wachovia and the collapsing commercial real estate loans stop bleeding.
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One of the BEST banks around!
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