2024-05-21 11:39:11 ET
Summary
- WFC's stock price has risen significantly compared to other major banks, outperforming the S&P Bank ETF and S&P 500.
- Its net interest income and margin have contracted through the last quarters. Yet, non-interest income has partly counterbalanced the NII drop by increasing quarter over quarter.
- Despite potential tailwinds from rate cuts, the P/B stands close to its historical level suggesting a hold rating of the stock.
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Wells Fargo: Recent Price Surge Pushed P/B Close To Historical Highs