Wells Fargo supposedly is doing better than it's peers but has declined from 95+ per share to 74 in a short time. The market is showing skepticism, clearly, of the firm and something appears to be wrong , perhaps unknown. I can't imagine being an employee or financial advisor and bringing clients into this mess with an incompetent CEO. To the advisors out there, you're all id--ts.
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@fa Yeah, can’t wait till Wells turns into another Western Alliance. But hey, that could never happen — we’ve got all those top-notch risk management folks, right? The same ones who completely understand the structural risks in private credit markets and make sure every first-loss policy and document is bulletproof.
Yeah, sure. What could possibly go wrong?
Time to start a new scandal to boost stock.
WFC is doing worse that peers, just b/c our close tie to private credits, say kKR, APO, and others who’re down by 30%+
@ab, Its a rough macro climate for all banks. Overall a quad 3 (inflation up, growth down) where
• Credit quality deteriorates.
• Loan demand slows.
• Yield curve volatility increases risk.
• Equity beta sells off when USD strengthens.
Can't rely on Net interest income saving your A...s. as in previous quarters. The stock will hit the 60s again before getting back into the 80's. April 14 Wells will report. CS is crafting the story now. IMO it will be the beginning of the end. Will he get the blame on AI spending?
@ev who cares? Our CEO got a massive raise.
All bank stocks are down because of increased consumer delinquencies. There are a lot of red flag - good credit card offers, saving account with competitive rates - all of that will compress net interest margin. Also economy is possibly heading into recession in 2026. Wells Fargo is doing worse than other banks because we completely abandoned any risk controls - we dont even pretend anymore. There are a lot of cr-ppy loans on the the balance sheet. Fed cap saved us during the covid - but it is not here to protect us anymore
Thankfully I dumped the vested shares the same day they became available at $95 a share. This is not some company you want to hold long term.
Biggest incompetent CEO is at 1600 Pennsylvania Avenue, Washington DC.
Im sure investors love how the risk framework that was built is obliterated. Lets invest on how soon something major fu--s up. Thank derek took the bart! And moved his family. I couldnt imagine making 7m a year and dealing with day to day stuff
All I saw was the word firm. For the millionth time its a bank, not a firm. Gretchen, stop trying to make firm happen. Its not going to happen. Its a shithole bank and always will be.
@ad WFC has also had a much bigger run up in the past 6 months. Stock is still up 20-30% in the past year
So, you think FAs only look at WFC for their clients investments?
I guess WIM should have zero FAs when it was at $20.
You're really grasping at finding issues, but it's obvious you're out of your element. Seems about time that you post about the Long Island Market Leader too.
The whole market has gone down.
A better way to look at this is to compare WFC vs XLF (S&P major banking sector index ETF, or KRE a regional banking index).
Year to date, WFC is down 20%. BAC is down 17%, JPM is down 14%, the overall sector XLF is down 12%. Charlie the chainsaw is hacking the company to death.