Wells Fargo (WFC) Stock

We have just put together a list of the 12 Best Blue Chip Stocks to Purchase for under $100. In this article, we will examine how Wells Fargo & Company (NYSE:WFC) compares to other top blue chip stocks available for under $100. Blue chip stocks are often seen as the ideal choice for investors.

Wells Fargo has declared that it has ended its 2022 consent order with the Consumer Financial Protection Bureau (CFPB) concerning auto loans, consumer deposit accounts, and mortgage lending. According to a press release from the bank on January 28, this marks the seventh consent order that Wells Fargo's regulators have closed since 2019.

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) has announced that its board of directors has approved a quarterly dividend of $0.40 per share, which will be paid on March 1, 2025, to shareholders who are on record by February 7, 2025. Wells Fargo is a major financial services firm with around $1.9 trillion in assets. The company offers a wide range of banking, investment, mortgage products, and services for both consumers and businesses.

Is Wells Fargo (WFC) a strong choice for momentum investors? Let's take a closer look.

WFC's attempts to cut costs and improve compliance seem promising. Let's see if the stock is a good investment option.

Wells Fargo & Company has announced that Ed Olebe is now the head of Cards and Merchant Services, starting immediately. He previously worked at JPMorgan Chase as the president of Branded Cards. CEO Kleber Santos stated that Olebe's extensive knowledge and experience will greatly benefit Wells Fargo as they aim to enhance their credit card offerings and payment services.

Wells Fargo performed better than expected in the fourth quarter, thanks to strong results in investment banking and a 1.2% increase in net interest income compared to the previous quarter. Although the outlook for net interest income in 2025 looks better, I still recommend holding onto the stock because its valuation is high compared to its book value. The bank's balance sheet is strong, with lower credit provisions, but there are some risks related to its exposure to commercial real estate.

The financial sector is demonstrating impressive earnings this season, with major banks like Bank of America, Morgan Stanley, Citigroup, JPMorgan Chase, Goldman Sachs, and Wells Fargo reporting a 19% rise in net income for 2024. Ken Leon, the CFRA Research Director of Global Fundamental Research, shares his insights on the future of the banking industry on Market Domination.

Wells Fargo & Company's earnings for the fourth quarter of 2024 showed a strong increase in net income, breaking a pattern of decline from previous quarters. The bank expects higher net interest income in 2025, which has boosted investor confidence and positively affected the stock price after the earnings report. Even though the bank has not met revenue expectations for the last two quarters, its stock has risen by more than 60% in the past year, indicating a sense of cautious optimism for 2025.