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Wells Fargo & Co WFC

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Stock XNYS Rating as of
$60.93 −0.53 (0.86%)
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As of Delayed Price Closed
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Company Report

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Expense Control Will Be Key for Wells Fargo in 2024; Increasing FVE to $58

Suryansh Sharma, Eric Compton

Wells Fargo remains in the middle of a multiyear rebuild. The bank is still under an asset cap imposed by the Federal Reserve, and we don't see this restriction coming off in 2024. Wells Fargo has years of expense-saving projects ahead of it as the bank attempts to get its efficiency ratio back under 60%. We also see a multiyear journey of repositioning and investing in the firm's existing franchises, including expanding its middle-market investment banking wallet share, investing in the cards franchise, and revitalizing a wealth segment that has lost advisors for years. These tasks take on increased importance for a bank that has been on defense for years after its fake accounts scandal broke in late 2016.

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Price vs Fair Value

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WFC is trading at a 638% premium.
Price
$60.93
Fair Value
$68.00
Uncertainty
Medium
1-Star Price
$21.90
5-Star Price
$35.60
Economic Moat
Vcchm
Capital Allocation
Cxplncz

Bulls Say, Bears Say

Bulls

Wells should have several years left of slower expense growth, while a big regulatory catalyst—the lifting of the asset cap—remains.

Bears

Wells Fargo still has consent orders outstanding, including the asset cap, and has been on defense for years, raising the potential for structural damage to its competitive positioning.

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Trading Information

Previous Close Price
$61.46
Day Range
$60.51–61.45
52-Week Range
$38.39–62.55
Bid/Ask
$60.00 / $60.93
Market Cap
$212.42 Bil
Volume/Avg
10.3 Mil / 18.5 Mil

Key Statistics

Price/Earnings (Normalized)
11.84
Price/Sales
2.72
Dividend Yield (Trailing)
2.30%
Dividend Yield (Forward)
2.30%
Total Yield
8.84%

Company Profile

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company has four primary segments: consumer banking, commercial banking, corporate and investment banking, and wealth and investment management. It is almost entirely focused on the U.S.
Sector
Financial Services
Industry
Banks - Diversified
Stock Style Box
Large Value
Total Number of Employees
226,000
Website
https://www.wellsfargo.com

Competitors

Valuation

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Metric
WFC
C
BAC
Price/Earnings (Normalized)
 11.8413.1513.29
Price/Book Value
 1.330.651.18
Price/Sales
 2.721.583.25
Price/Cash Flow
 7.974.538.60
Price/Earnings
WFC
C
BAC

Financial Strength

Metric
WFC
C
BAC
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 ———
Quick Ratio
No chart available

Profitability

Metric
WFC
C
BAC
Return on Assets (Normalized)
 1.00%0.37%0.92%
Return on Equity (Normalized)
 11.72%4.74%11.28%
Return on Invested Capital (Normalized)
 ———
Return on Assets
WFC
C
BAC
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