July 24, 2015
U.S. News: Why Wells Fargo Is the Best Bank Stock Today
WFC avoids controversy and pays investors handsomely – and now it’s the world's most valuable bank.
Hahaha! WFC avoids controversy! Surely that is the quote of the day! No?
If you opened up a Wells Fargo (ticker: WFC) checking account with $5,000 a year ago, you made somewhere in the neighborhood of 0.01 percent annual percentage yield. But if you invested that same amount in Wells Fargo stock, then boom – you made yourself more than $640, or close to 13 percent on your money.
Hahaha! And if you continued to hold that $5,640 in WFC stock until today, it would now be worth $4,681 (adjusted for dividends). Where did that missing $319 go? Surely that is the quote of the day! No?
Meanwhile, Wells Fargo stock has proven steady (with a few dips here and there) going back to third quarter of 2009 – and more than doubling since.
Hahaha! Proven steady? That's gotta be the quote of the day! Right? No?
Pragnya Pattnaik, senior analyst at The Edge Consulting Group, says that Wells Fargo "has managed to perform better than most of its peers primarily through gains in market share, lower equity capital requirements and expanding relationships through cross-selling."
Hahaha! Expanding relationships through cross-selling! Quote of the day! Am I right or am I right? No?
I give up. What's the quote of the day? Does it involve a musical tribute?
While Wells Fargo investors should always watch out for changes in key indicators, including slowdowns on the mortgage banking and earnings growth side, the future has only clear skies ahead for WFC stock, Pattnaik says.
Hahaha! Other than the widespread cross-selling fraud and the "retirement" of CEO John Stumpf, the future has only clear skies ahead! Yes! Woohoo!
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