Why Wells Fargo Is A Buy – CWEB.Com
Wells Fargo (NYSE:WFC) is still one of the strongest banks with the lowest cost of funds.
Losses in the bank’s commercial real estate portfolio decreased for the 19th consecutive quarter.
The bank has returned more than $3 billion to shareholders for ten consecutive quarters.
Lower corporate tax rate and rising interest rates creates a very favorable business environment for the bank.
Wells Fargo (NYSE:WFC) is a diversified financial service company that provide retail, commercial and corporate banking services carried through their distribution channels to individuals, businesses and institutions across the US.
In 2018 performance of banking stocks remained optimistic. Rebound in trading activities (after dismal 2017 performance) is perhaps the primary reason for this bullish price performance.
Other Banks that compete with Wells Fargo (NYSE:WFC) are (JPM),(BBT),(PNC),(C),(BAC),(COF)
CWEB Analyst’s have initiated a Buy Rating for Wells Fargo (NYSE:WFC) and a Price Target of $100 within 12 months.
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