WFC - Wells Fargo Continues To Grow Despite Its Past
2024-05-30 15:15:32 ET
Summary
- Wells Fargo has faced multiple scandals and asset caps imposed by the FED, but its stock has doubled the returns of the S&P 500 YTD.
- The company had strong 1Q earnings, with revenue increasing and net income of $4.6 billion, resulting in a low P/E ratio of ~13.
- Wells Fargo continues to run a major business with diversified consumer and commercial loans, maintaining strong credit quality and the ability to generate substantial shareholder returns.
Wells Fargo & Company ( WFC ) is one of the largest banks in the world, with a market capitalization of more than $200 billion. The bank has been forced to face scandal after scandal, and has had a cap on its assets imposed by the FED. The company expects asset caps to remain through next year and Berkshire Hathaway Inc. (BRK.A) (BRK.B) has disposed of the last of what was once a large stake....
Wells Fargo Continues To Grow Despite Its Past