The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
In the latest trading session, Wells Fargo (WFC) closed at $70.81, marking a -1.63% move from the previous day.
WFC's efforts to reduce costs and progress to fix compliance issues look encouraging. Let us find out whether the stock is worth investing in.
Wells Fargo (WFC) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Wells Fargo's CEO reportedly has more confidence in his bank's efforts to remedy its compliance issues. Charlie Scharf's comments, as reported Wednesday (Dec. 11) by Reuters, follow the banking giant's years-long fake account scandal.
Wells Fargo & Company (NYSE:WFC ) Goldman Sachs 2024 U.S. Financial Services Conference December 11, 2024 8:40 AM ET Corporate Participants Charlie Scharf - Chief Executive Officer and President Conference Call Participants Richard Ramsden - Goldman Sachs Richard Ramsden Good morning, everybody, and welcome to day two of our 35th Annual Financial Services Conference. It's a pleasure to see you all here, and thank you for joining us.
Wells Fargo CEO Charlie Scharf expressed more confidence on Wednesday in the bank's progress to fix compliance problems after its years-long fake accounts scandal, detailing its efforts to implement risk controls.
Wells Fargo's stock (NYSE: WFC) has gained close to 51% year-to-date, as compared to the 28% rise in the S&P 500 index over the same period. In comparison, Wells Fargo's peer, Bank of America (NYSE: BAC), is up 42% year-to-date.
Wells Fargo (WFC) closed the most recent trading day at $72.05, moving -0.78% from the previous trading session.
Citigroup stock (NYSE: C) has gained about 44% year-to-date, compared to the 27% rise in the S&P 500 index over the same period. Citi's peer Wells Fargo (NYSE: WFC) is up by an even stronger 54% YTD.
JPMorgan stock (NYSE: JPM) has gained about 48% year-to-date, compared to the 28% rise in the S&P500 index over the same period. JPMorgan's peer Wells Fargo (NYSE: WFC) is up by an even stronger 50% YTD.
Does Wells Fargo (WFC) have what it takes to be a top stock pick for momentum investors? Let's find out.