Author Topic: WFC - Wells Fargo  (Read 244963 times)

Spekulatius

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Re: WFC - Wells Fargo
« Reply #720 on: June 24, 2018, 05:49:31 AM »
Posted by Spekulatius in the C topic, edited by me on purpose to direct the quoting to the WFC DFAST 2018 results:

... I am not even sure that WFC is thr best deal amongst the banks right now. I do think they did decently in the stress test. ...

The DFAST 2018 for WFC was actually what I was most curious about under my reading of FED DFAST 2018 report yesterday. Personally, I think WFC passed the stress test in fine style.

Somehow a bit odd, considering how hard FED has come down on WFC recently with that order not to expand business volume for WFC. I'm speculating here, that FED has been on a mission to get WFC to get its act together. If that is true, based on the stress test result for WFC, the order now seems like some kind of overreaction.

I agree that WFC does did well, as did the Subs of the European banks by the way. I found it surprising how much of a hit the investman banks took (G, MS, even JPM and CS to some extend) and then STT, which I donít understand at all. MS appears to be very much in risk on mode.
To be a realist, one has to believe in miracles.


sleepydragon

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Re: WFC - Wells Fargo
« Reply #721 on: June 24, 2018, 06:30:23 AM »
In the most recent presentation by WFCís ceo, they are aiming reaching roe of 15% in a few years, through returning capitals and cutting expenses. If they are successful at it, the stock is definitely undervalued, imo.

Viking

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Re: WFC - Wells Fargo
« Reply #722 on: June 28, 2018, 02:25:10 PM »
WFC is the big winner of this years CCAR sweepsteaks. While under the Fedís microscope they were able to deliver what looks to me to be the largest total payout (if I am understanding things properly. Not being allowed to grow their balance sheet may have helped them get approval to return more capital. Dividend of $0.43 = yield of 3.1% (on share price of $55).

ďthe Company expects that it will, subject to approval by the Companyís Board of Directors, increase its third quarter 2018 common stock dividend to $0.43 per share from $0.39 per share. The plan also includes higher levels of common stock repurchases1 Ė up to $24.5 billion for the four-quarter period (third quarter 2018 through second quarter 2019), compared with Wells Fargoís 2017 Capital Plan, which covers the third quarter of 2017 through the second quarter of 2018 and includes up to $11.5 billion of common stock repurchases1, of which $8.5 billion of common stock has been repurchased1, 2 through the first quarter of 2018. In addition, the Company may consider redemptions or repurchases of other capital securities as part of the plan.Ē

sleepydragon

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Re: WFC - Wells Fargo
« Reply #723 on: June 28, 2018, 04:19:26 PM »
$$$$ 8)

John Hjorth

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Re: WFC - Wells Fargo
« Reply #724 on: July 14, 2018, 01:47:27 AM »
For those further interested in the discrete tax hit that WFC was subject to under 2018Q2, here is a link to a Wikipedia article about South Dakota v. Wayfair, Inc.
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Spekulatius

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Re: WFC - Wells Fargo
« Reply #725 on: July 18, 2018, 01:25:14 PM »
To be a realist, one has to believe in miracles.

Viking

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Re: WFC - Wells Fargo
« Reply #726 on: July 18, 2018, 03:58:25 PM »
Ouch- thatís gotta hurt:
https://www.google.com/amp/s/www.yahoo.com/amphtml/finance/news/wells-fargo-automated-high-net-worth-wealth-management-advisors-faced-sales-pressure-151535558.html

Doesnít make the sales pitch easier going forward, thatís for sure.

I am wondering just how messed up this company is. The negative stories just keep coming...

Spekulatius

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Re: WFC - Wells Fargo
« Reply #727 on: July 19, 2018, 05:40:58 AM »
Ouch- thatís gotta hurt:
https://www.google.com/amp/s/www.yahoo.com/amphtml/finance/news/wells-fargo-automated-high-net-worth-wealth-management-advisors-faced-sales-pressure-151535558.html

Doesnít make the sales pitch easier going forward, thatís for sure.

I am wondering just how messed up this company is. The negative stories just keep coming...

It appears like rotten to the core in terms of culture. Not worth investing in, imo and certainly not worth a premium to BAC. I think even C might be a better managed bank at this point.

In the end, this all will mean years of forgone growth for WFC.
To be a realist, one has to believe in miracles.

John Hjorth

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Re: WFC - Wells Fargo
« Reply #728 on: July 19, 2018, 06:21:16 AM »
I think it's important to keep the time frame of this "socalled "new" bad" story about the activities at WFC in mind.
ĒIn the race of excellence Ö there is no finish line.Ē
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

longinvestor

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Re: WFC - Wells Fargo
« Reply #729 on: July 19, 2018, 06:33:17 AM »
I am wondering if WFC goes the way of American Express, some 20 years ago. They spun off the investment management business into Ameriprise. I was a customer of Ameriprise, the bank portion was OK, the investment management part was also rotten.

Hmmm...investment management=Rotten then, rotten now. Buffett promptly unloaded the Ameriprise stock. Wonder if this could be on the cards for WFC? Return to roots.