Wells Fargo and Company (WFC)

[Saving Grace]

The walls are falling down on Central Banks. The reset will be to a Quantum financing system backed by gold. The Central Bank is being phased out with the scam fiat petrol dollar becoming worthless.

[Saving Grace]

Wells Fargo downgraded at UBS as recent rally erases P/E discount

[conix]

UBS lifted Wells Fargo & Company price target from $40 to $47.

[Cat dog]

It’s coming !!! $$$$$$$$$$$$$ !!!!!

[conix]

Wells Fargo & Company (NYSE:WFC) Price Target Raised to $53.00

Posted by ABMN Staff on May 18th, 2021

Wells Fargo & Company logoWells Fargo & Company (NYSE:WFC) had its target price boosted by analysts at Compass Point from $46.00 to $53.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Compass Point’s target price points to a potential upside of 10.65% from the stock’s current price.

WFC has been the subject of several other reports. UBS Group reiterated a “buy” rating and set a $40.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, April 14th. Oppenheimer reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Tuesday, January 19th. Argus boosted their price target on shares of Wells Fargo & Company from $37.00 to $47.00 in a report on Thursday, April 15th. Robert W. Baird boosted their price target on shares of Wells Fargo & Company from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Finally, Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, April 9th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $41.96

[conix]

Just wait until the asset growth cap is lifted. Hell, $55.

"Aside from cutting expenses, Wells Fargo is still suffering from the asset cap the Fed put in place after several scandals became obvious in 2016. This asset cap clearly limited Wells Fargo’s ability to grow in the last few years. For several years, Wells Fargo’s balance sheet was limited to $1.95 billion.

While this is certainly not the only reason Wells Fargo underperformed its peers, it certainly contributed to the underperformance. But we can also assume, the asset cap will be lifted at some point in the future. In February 2021, it was reported that the Federal Reserve accepted Wells Fargo’s plan to overhaul its governance functions. And this is a key step for Wells Fargo to be released from regulatory restrictions."

SEEKING ALPHA

[conix]

Banking Comparisons

[Saving Grace]

$WFC All Central Banks issue more Junk notes.

Read the fine print as the new junk notes are a sure loser to add to the pile of unsecured debt.

[Cat dog]

EOD @46.25 lol watch and see. Monday we be up a 1.25 to @47.50 per share. Go wFC

[Cat dog]

Looks like we may see High 55s. WFC looking sweet !!! and has fundamentally solid foundation.

[Nebuchadnezzar]

$WFC https://schrts.co/zcVZFRqX

[buby89]

Go wfc!!!

[Cat dog]

Hold the line we will be @41 EOD

[Cat dog]

WFC to go forward @68 A 1.9 Trillion dollars has to go to all banks first lol. It’s a win win win I believe and it’s a growth !!!

[Saving Grace]

Nice! Congrats on the win. Looks like $50 may be in reach.

[buby89]

Still banking on it. All the way to the bank. Looks like I made you my bank.

[buby89]

Those 22$ shares are paying off.... still banking on it

[Zues]

WFC$ Moving on up!

[mick]

Wells Fargo and Comp (WFC)
37.85 ? 0.89 (2.41%)
Volume: 39,022,955 @02/19/21 7:59:54 PM EST
Bid Ask Day's Range
- - 37.03 - 37.85
WFC Detailed Quote

[Zues]

Another great day for WFC$. The Fed has 1.1T of liquidity they must find a place to park. Currently only 2 big banks have space on their balance sheets - BAC 150B and WFC 500B. WFC has much more room because of the Fed imposed asset cap which will need to be removed. It is no coincidence the Fed accepted WFC's remediation plan this week. Liquidity and gov fiscal stimulus along with an infrastructure bill will aid economic recovery which in turn will create an inflationary environment as the economy heats up. Tres. Sec. Yellen recently said she is not worried about inflation as a byproduct of adding more stimulus which is essentially acknowledging inflation is on the horizon. We are entering good times for the financial sector. Bullish 2021-2022.

[Zues]

The Fed, liquidity, needing a place to park 1.1T, and asset cap.

Good read as it relates to WFC's asset cap:

https://www.zerohedge.com/markets/here-we-go-again-zoltan-warns-repo-market-verge-major-shock-key-funding-rate-turns-negative?utm_campaign=&utm_content=Zerohedge%3A+The+Durden+Dispatch&utm_medium=email&utm_source=zh_newsletter

I think the cap will be removed soon.

[Zues]

Surprised this board is so quiet. Acceptance of the remediation plan is a major step forward in the asset cap removal process. An event like this is rare and historical considering the Fed had never before implemented this sort of harsh punishment. WFC has major upside potential.

[Zues]

Oh yeah baby! WFC. https://seekingalpha.com/news/3662891-wells-fargo-stock-climbs-on-report-fed-accepts-its-overhaul-plan

[mick]

https://otcbb.swingtradebot.com/equities/WFC

N.Y. , NASDAQ
https://swingtradebot.com/equities/WFC

[Zues]

I agree. WFC submitted a 2nd remediation plan to the Fed this past Sept. and have yet to hear back. Their first attempt was rejected promptly back in 2018. Next month will be the 3 yr anniversary since the asset cap was imposed by previous chair Janet Yellen (oh the irony). I think having a new CEO recruited from outside WFC along with some new board members should make a difference from a management perspective. This is all new territory as no other bank has had this sort of punishment.

[conix]

WFC has been shorted. I agree that the asset cap will be lifted--and WFC will be over $40 again

[fishhunter]

January 2023 calls are an awesome buy.

[Zues]

Many catalysts for WFC. Once the asset cap is lifted this thing will grow wings. WFC$

[mick]

https://pennystocks.news/otc/?symbol=WFC

[buby89]

Hit 30! Dang hurry up! Lol

[jhdf51]

Thank you.

JHD

[conix]

Wells Fargo execs see asset cap remaining in place for awhile - Bloomberg

Dec. 08, 2020 12:13 PM

While some sell-side analysts have become optimistic that the Fed may lift its asset cap from Wells Fargo (WFC -0.9%) within months, some bank executives appear less upbeat, Bloomberg reports.

The asset limits, imposed in February 2018, must remain in place until the San Francisco-based lender can prove it has systems in place to prevent sales abuse practices, such as the opening of millions of bogus accounts employees executed to reach sales targets.

Wells Fargo total assets over the past 10 years (asset cap of $1.95T has been in place since 2018):

Some analysts and investors are speculating that the central bank may soon remove the cap on the bank's growth; Deutsche Bank analyst Matt O'Connor suggested in a note last month that the asset cap might be lifted within six months.

But some top WFC executives expect the sanction to stay in place until late next year at the earliest.

And key Fed officials see the process continuing into 2022 or later, Bloomberg reports, citing people familiar with their thinking and the number of steps the company still has to clear.

The bank needs to show its progress in strengthening internal systems, receive Fed approval for completing the revamp, and then pass a third-party review in order to get the asset cap removed.

The process has taken a lot longer than WFC execs originally expected. At one point, they expected the cap to be lifted by mid-2019.
Wells Fargo CEO Charlie Scharf, who joined the bank about a year ago, has declined to provide any timeline for the process.

"We have to do the work," Scharf said Tuesday at an industry conference. "I can’t speak for the regulators. They’ll be the ones to determine when the work is done to their satisfaction, but again I can say it’s our priority."

In September, WFC submitted a new proposal for completing its overhaul after the Fed rejected its previous plan drawn up under Scharf's predecessor.

Once the board approves the plan, which hasn't happened yet, the third-party review can take months. Then, the full Fed board would have to agree to remove the sanction.

Cowen analyst Jaret Seiberg expects WFC to push for the asset cap's removal before President-elect Joe Biden can replace top Fed officials in late 2021 and early 2022, a move that Seiberg sees as an "uphill" fight.

[jhdf51]

Thanks... will continue to hold. They killed the dividend which is why I was holding and agree with your
sentiment.

JHD

[conix]

WFC is my pick in the banking sector for outperformance over the next three months.

[Prudent Capitalist]

Wells Fargo is currently a value equity investment and stock play. But the current 1.35% yield is still decent, and much better than any of the current interest rates. IMO, the dividend will increase back up at some point.

[jhdf51]

So the dividend has been decimated...what are thoughts on it returning to former glory...years?

Thanks...

JHD

[mick]

Wells Fargo and Comp (WFC)
29.49 ? -0.06 (-0.20%)
Volume: 17,308,534 @12/07/20 1:10:11 PM EST
Bid Ask Day's Range
- - 29.07 - 29.6286
WFC Detailed Quote

[conix]

Wells Fargo (NYSE: WFC) Lining Up For A Killer December and Q1

TUESDAY, DECEMBER 1, 2020 | SAM QUIRKE

Wells Fargo (NYSE: WFC) Lining Up For A Killer December and Q1A 40% run in less than a month’s worth of trading is enough to make any investor sit up and take notice. All the more so when it comes from a stock that’s put down a rough year and is coming out of oversold levels. That’s the reality for investors of San Francisco bank Wells Fargo (NYSE: WFC), whose stock has just had its best month of the year and looks on track to finish out 2020 on a strong note.
It will be a marked difference from how they started the year, still trading at 2014 levels before taking a wicked dip into March and April. They’ve acquired an unenviable reputation for being among the weaker of the big banks and in recent years have been marred by scandal, so understandably their shares are unattractive. But that’s not to say there isn’t scope for opportunity for any investor willing to hold their nose and jump in on a stock with impressive momentum.

Shares had been caught in a downtrend all through summer and fall since slamming lower in March, and only hit their low of the year at the end of October. But since then, they’ve moved steadily off the lows and have, technically speaking, broken the downtrend’s grip. If they can keep this momentum through the next few weeks, there’s a good chance they’ll soon be retesting the previous post-COVID high of $33, which is where they topped out in April and June.


Two Big Drivers

Those in the bull camp have two main sources of optimism to draw from. Firstly, there’s the catch-up rally potential. Compared to its peers, Wells Fargo has been the laggard of the group this year and it seems Wall Street is starting to think the spread has become a bit stretched. Since the start of April, Bank of America (NYSE: BAC), Citi (NYSE: C), and JPMorgan (NYSE: JPM) have all managed to tack about 40% onto their share prices. In contrast, shares of their distant cousin in San Francisco are barely positive, and that’s only because of the recent rally. They were down a full 20% since April only four weeks ago.

The second reason for the bulls to be excited is the accelerating timeline we’re seeing for a return to normal economic conditions. This is mostly due to the recent news from the likes of Moderna (NASDAQ: MRNA) who have announced a COVID vaccine that is 94% effective. With the prospect of the pandemic soon beating a permanent retreat, the near term future-facing banks like Wells Fargo brightens considerably.

Their shares had suffered big time due to surprisingly large provisioning for prospective credit losses, as reported in their earnings reports over the summer and fall. Assuming the vaccine becomes widely available by early 2020 there’s good reason to believe that the drivers which caused the economic hardship, which in turn fuelled the bank’s damaging credit losses, will cease to be.

As this latter point edges towards becoming reality, the former point becomes all the more pertinent as value investors get onboard the catch-up play. Wells Fargo has been a tough stock to hold for the long term, and there are plenty of better banks to look at if that’s what you’re going for. However, history also shows that their shares are also very capable of staging triple digit percentage rallies if the conditions are right. As we head into the last month of 2020, this is the best they’ve been looking all year.

[conix]

I have picked up a good amount of shares under $25 and now will wait for $40 by end of 2021

That is my prediction--- Fed lifts the asset growth cap and serious cost cutting will begin to attract investors again as other better performing financials get analyst rating cuts--like JPM and BAC recently.

[Nebuchadnezzar]

i will only add to my WFC position if it dips under $27

[conix]

Wells Fargo & Company (NYSE:WFC) was upgraded by analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating with a $40.00 price target on the stock.

[Nebuchadnezzar]

had to take some profits here today, this thing hasnt been above $29 in 6 months and we hit DOW 30,000 and WFC still under $30 is kind of a red flag imo

i think it could still run to $30-$32 i just would rather play it safe bc this market is getting a bit overextended again...just look at TSLA bubble and DIS is $150 with Disneyland still closed

S&P 500 at 3650 is basically pricing in $200+ in earnings in 2021, not sure how the hell that happens

[buby89]

Woah 28 nice

[buby89]

27s today

[Prudent Capitalist]

On track. Your $22.85's are so golden. Anyone who bought WFC shares down anywhere under $25 will be very happy and profit quite handsomely here.

[buby89]

Talk about a saving grace. Yawn.

[mick]

Wells Fargo and Comp (WFC)
24.86 ? -0.04 (-0.16%)
Volume: 24,294,442 @11/17/20 3:51:49 PM EST
Bid Ask Day's Range
- - 24.52 - 25.15
WFC Detailed Quote

[buby89]

Good thing I bought those 22 dollar shares! Lol! Banking on it!

[Saving Grace]

I wouldn't Bank on it.

[mick]

Wells Fargo and Comp (WFC)
23.25 ? 0.0 (0.00%)
Volume: 24,558,345 @10/23/20 7:59:36 PM EDT
Bid Ask Day's Range
- - 23.115 - 23.59
WFC Detailed Quote