Wells Fargo & Co
|Volume:||13,417,236||Avg Vol (1m):||23,411,463|
|Market Cap $:||207.50 Bil||Enterprise Value $:||63.59 Bil|
|Earnings Power Value||-22.08|
|Net Current Asset Value||0|
|Median P/S Value||48.24|
|Peter Lynch Value||0|
|DCF (FCF Based)||0|
|DCF (Earnings Based)||0|
The guru started a new position in Univar Inc. (UNVR). The trade had an impact of 1.51% on the portfolio.
The firm acquired a new position in Cabot Corp. (CBT), buying 529,143 shares. The trade had an impact of 0.19% on the portfolio.
The company, which manufactures chemicals, materials and chemical-based products, has a market cap of $2.56 billion and an enterprise value
Chris Davis (Trades, Portfolio), manager of the Davis Financial Fund, disclosed this week his top six buys for the first quarter were Bank of America Corp. (BAC), Capital One Financial Corp. (COF), Wells Fargo & Co. (WFC), Quest Diagnostics Inc. (DGX), Applied Materials Inc. (AMAT) and Apache Corp. (APA).
Managing a portfolio of 136 stocks, Davis seeks durable, well-managed businesses that can be purchased at value prices and held for the long term. The guru said in his 2019 annual review letter that despite a -15.97% return in 2018, the Davis Financial Fund has compounded shareholder wealth
The faithful gathered in Omaha last weekend to absorb the wisdom of Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio). As in previous years, the Berkshire Hathaway (BRK.A)(BRK.B) leaders mused on the audience’s most pressing concerns of the day, spanning politics, business, stocks, personal life, human behavior, global ecology and what we all should do. Interspersed were their usual anecdotes and wit. From their 2019 annual meeting, here are the best quotes.
- “The first quarter of 2019 actually was much like the first quarter of 2018, and I hope very much that
Charlie Munger (Trades, Portfolio) set the tone for the 2019 Berkshire Hathaway Annual Meeting. He said that people involved in creating cryptocurrencies “honored the life and work of Judas Iscariot.” On many major subjects, questions were fired at Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio) related to short comings which self-proclaimed expert observers see at Berkshire. These questions seemed to ask the same question each time. Which Berkshire employee/executive is the one who let everyone down even though they appeared to be giving their best effort?
A little history
Wells Fargo (WFC) recently reported financial results for the first quarter of fiscal 2019.
For the quarter, revenues declined slightly to $21.6 billion, with a 1% increase in net interest income from a higher net interest margin (NIM) offset by a 4% decline in noninterest income. Net income was $5.9 billion, with diluted EPS climbing to $1.2 (helped by a lower effective tax rate).
Total average deposits were $1.3 trillion, down 3% from the year-ago period. The decline was due to lower Wholesale Banking deposits (-8%) and Wealth & Investment Management deposits (-14%), partially offset by higher retail banking deposits
The Dow Jones Industrial Average closed at 26,412.30 on Friday with a gain of 269.25 points or 1.03%. The S&P 500 closed at 2,907.41 for a gain of 19.09 points or 0.66%. The Nasdaq Composite closed at 7,984.16 for a gain of 36.80 points or 0.46%. The VIX Volatility Index was lower at 12.01 for a loss of 1.01 points or -7.76%.
For the week, the Nasdaq gained 0.90%, the S&P 500 gained 0.79% and the Dow Jones gained 0.51%. For the year, the Nasdaq is up 20.3%, the S&P 500 is up 16.0% and the Dow Jones has a
Wells Fargo & Co. (WFC) once enjoyed an enviable reputation among America’s biggest banks. Its brand was a watchword for prudence, honesty and quality customer service. That perception was shattered in 2016 with the revelation of a widespread fake accounts fraud scheme. Unsurprisingly, the bank’s reputation has been severely tarnished by that revelation, as well as by the series of further scandals that followed. Despite its best efforts to turn the corner, Wells Fargo’s problems continue to fester.
Evidently, the pressures of dealing with the extensive internal reform program while under intense government scrutiny have
STAMFORD, Conn., April 03, 2019 (GLOBE NEWSWIRE) -- Finacity Corporation (“Finacity”) announced that it has successfully renewed the IFRS off-balance sheet trade receivables securitization for Votorantim Cimentos North America Inc. (“VCNA”). The transaction allows for up to $150 million in funding of the senior tranche from Wells Fargo Capital Finance, part of Wells Fargo & Company [: WFC], as well as a $2 million investment from Finacity Capital Management (“FCM”) in the intermediate subordinated note. Finacity served as structuring agent coordinating the renewal process on behalf
NEW YORK, April 01, 2019 (GLOBE NEWSWIRE) -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors, traders, and shareholders of Wells Fargo & Company (:WFC), Public Service Enterprise Group Incorporated (:PEG), Apartment Investment and Management Company (:AIV), Gentherm Inc (THRM), Connecticut Water Service, Inc. (CTWS), and KalVista Pharmaceuticals, Inc. (KALV), including updated fundamental summaries, consolidated fiscal reporting, and fully-qualified certified analyst research.
Complimentary Access: Research Reports
Full copies of recently published reports are
Shares of Wells Fargo (WFC) soared 3.08% in afterhours trading following the bank’s announcement that its CEO of almost three years, Tim Sloan, will retire.
Sloan assumed the role in October 2016 amid the scandal involving managers creating fake bank accounts to meet sales quotas. The ordeal led to the ouster of the former CEO, John Stumpf.
“Tim Sloan has served this company with pride and dedication for more than 31 years, including in his role as CEO since October 2016. He has worked tirelessly over this period for all of our stakeholders in the best long-term interest of Wells
As the market slumped in the fourth quarter, investors tracked by GuruFocus gravitated to several tech and financial stocks, particularly Facebook (FB) and Alphabet (GOOG).
The S&P 500 index declined 13.97% in the fourth quarter, marking its worst stretch since the third quarter of 2011, when it fell 14.33%. During the storm, the most popular stocks among investors tracked by GuruFocus, a group of the world’s most prominent managers, most of whom have a value slant, were: Facebook, Google, (Buffett’s third-largest holding) Wells Fargo (WFC), Goldman Sachs (GS) and Citigroup (C).
According to the S&P 500 Screener, the investors preferred
According to top 10 holdings data, the top six holdings of Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway Inc. (BRK.A)(BRK.B) as of year-end 2018 were Apple Inc. (AAPL), Bank of America Corp. (BAC), Wells Fargo & Co. (WFC), The Coca-Cola Co. (KO), American Express Co. (AXP) and The Kraft Heinz Co. (KHC).
Known as the “Oracle of Omaha,” Buffett follows a value investing strategy that adapts Benjamin Graham’s approach. Buffett and Berkshire co-manager Charlie Munger (Trades, Portfolio) prefer to buy good companies at fair prices instead of fair companies at good prices. Such companies
A distressed-debt specialist, Tepper primarily invests in the debt of distressed companies. The founder of New Jersey-based Appaloosa has earned an international reputation for producing strong returns among Wall Street investors. During the December quarter, Tepper established holdings in Alerian MLP (AMLP), Allstate Corp. (ALL) and major Warren Buffett (Trades, Portfolio) holding Wells Fargo & Co. (WFC), and increased his
2019 appears set to be a year of historic importance. Fears that the post-Great Recession bull market will come to an end are mounting, as are fears of outright economic downturn. There are countless factors at play, but that has not stopped some top analysts and institutions from making a stab at prognostication.
Most big investment banks have issued their forecasts for the year ahead. The outlooks presented by Wells Fargo ((WFC), JPMorgan Chase & Co. (JPM), and Bank of America (BAC) share a number of similarities, but each offers a different take on the unusually uncertain future.
Wells Fargo & Co. (WFC) reported fourth-quarter and fiscal 2018 results on Tuesday morning.
The company ended the year with $745 billion in average consumer and small banking deposits (down 1%), with the slight year-over-year decline driven by customers moving cash to higher rate alternatives. Primary consumer checking accounts increased approximately 2% to 24 million, with digital customers and digital secure sessions +4% and +20%, respectively, reflecting continued customer migration to digital channels (as noted at JPMorgan’s (JPM) 2018 Investor Day, digitally engaged clients have a roughly 10% higher retention than non-digital clients).
Outstanding loans at quarter-end were
JPMorgan Chase & Co. (JPM), a major Warren Buffett (Trades, Portfolio) bank holding, said fourth-quarter 2018 net earnings were $1.98 per share, down 22 cents from the consensus estimate of $2.20. This marked the New York-based bank’s first miss in four years.
Investment bank and asset management revenue suffers on geopolitical headwinds
JPMorgan Chase reported corporate and investment bank revenues of $7.237 billion, down approximately $1.568 billion from the prior quarter. Chief Financial Officer Marianne Lake said during the earnings call that while the bank reported higher banking revenues, market
Shares of Wells Fargo & Co. (WFC) fell after the company reported fourth-quarter and full-year 2018 results before the opening bell on Tuesday.
The San Francisco-based bank, which is one of Warren Buffett (Trades, Portfolio)’s largest holdings, posted earnings of $1.21 per share, topping Refinitiv’s estimates of $1.16. Revenue, though, declined 5% from the prior-year quarter to $20.98 billion, missing expectations of $21.73 billion.
This resulted in an annual sales decline for the bank while its peers, JPMorgan Chase (JPM) and Citigroup (C), touted increases earlier this week. For the full year, the company recorded earnings
This is the seventh year-end portfolio review I’ve written for GuruFocus. It’s something I look forward to because it usually generates a lot of quality feedback from readers. As a quick aside, this also marks the first time I’ve written in some time. For whatever reason, I haven’t felt the urge to sit down and put pen to paper. What started as a short break for a few weeks eventually became months. That’s going to change. I intend on writing more often in the new year.
With that, here are the usual disclaimers: First, I have no idea how these
Despite a volatile Christmas, our family of gurus still came together to celebrate their holdings in the six most broadly held stocks according to aggregated portfolio data on all of our Premium gurus: Microsoft Corp. (MSFT), Wells Fargo & Co. (WFC), Alphabet Inc. (GOOGL)(GOOG), Apple Inc. (AAPL), Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM).
Markets go on wild sleigh ride, but Santa brings post-Christmas cheer to investors
The Dow Jones industrial average traded around 23,138.82 at market close on Thursday, approximately 260 points higher than the previous close of 22,878.45 and approximately 1,346
According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows.
Facebook reached the 52-week low of $124.95
The price of Facebook Inc. (FB) shares has declined to close to the 52-week low of $124.95, which is 43.5% off the 52-week high of $218.62. The company has a market cap of $359.08 billion.
Its shares traded with a price-earnings ratio of 18.83 and a price-sales ratio of 7.07 as of Dec. 21. The company had an annual average earnings growth of 63.50% over the past 5 years.
Facebook is the world's largest online social network. Its