Saul is selling his WF shares! Does this alarm you?
12 replies (most recent on top)
All Banks will struggle for the next few years due to the lowest Interest Rates in a few decades. Once the inflation and interest rates start going up and economy(Main Street) starts recovering the Banks(including Wells) will flourish for the next decade. Wells was at an all time high in 2018 at around $65 per share. There is no reason it can’t go up to that price and most likely be in The $70’s in a few years.
Glad I cashed my shares out on the day I got them. I sold at 39. Will it return? Probably. Will it happen soon? Nope.
I agree. It’s not true. Saul didn’t sell, but he bought 60 shares on 11/23. WFC stock is trading at a tremendous discount compared to other bank stocks. Granted there is a reason for the discount due to all the issues in them last 4 years. But once Asset Cap is lifted and dividend and Buy Backs reinstated and Efficiency Ratio improves in line with other Large banks then the Stock will approach the 2018 high(around $65) imo. The stock was recently upgraded by many analysts. It trades at about 80 % price per book. The average p/b of Wells pre covid was around 1.5. It will take a few years(imo by 2023) for the stock to almost triple from where it is trading today.
Shouldn’t bother anyone at all. People sell for all sorts of reasons, from cash needs or wants, to diversify outside of employer stock, to stop further losses and many times even forced (options expiration, options vesting, etc).
Financial people understand that buying is far more important. People only buy when they perceive value.
Those 50 shares we got in Feb were a huge boon to my retirement fund!
Hey I have more shares you can buy! At least 10
This is penny stock
Fake news
@xtf canned broker speak
I have no idea what Saul may or may not have done recently, but executives get a lot of compensation in the form of shares and options for stock. Those generally vest over time and can be sold. There are a lot of executives who pretty regularly file that they’re going to sell a chunk of their company’s stock. It’s just a part of them taking their compensation. If Saul sold some, is he taking some cash out of deferred comp? Rebalancing his portfolio? Could be a lot of different things.
Lol @ buying 60 shares
When looking at insider trades for any company it is good to remember that there are lots of reasons to sell (over valued, diversify, personal expenses, estate planning) but usually very few reasons for an insider to buy
https://www.secform4.com/insider-trading/72971.htm
This place is stacked with trolls with posts like the above giving false info. I love it though, can buy WF for cheap.