Bank Of America: Don't Let Q4 Distract From The Bigger Picture [Seeking Alpha]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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US:NYSE Investor Relations:
wellsfargo.com/about/investor-relations
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Source: Seeking Alpha
Summary Bank of America didn't deliver as much as hoped-for in 4Q but quarterly numbers aren't the issue for this company. The bigger picture is capital redistribution and that story is still well on track with BAC paying out $34bn in 2019 and retiring 10% of its shares. There's another $15bn of repurchases coming in the next two quarters (5% of market cap.), which will support the stock. Longer term, 2020 CCAR in June is a key catalyst where I expect another big repurchase and dividend authorization that will keep the payout yield above 10%. I'm looking at a price target above $40, indicating there's another 20% upside in the stock. Stay bullish. Not bad, not great In my last article I have to put my hand up and say the company delivered less than I hoped. 4Q wasn't bad, but it wasn't stand-out either and a 10% earnings beat was greeted with a 3% share price drop as the market was underwhelmed by the mix of the numbers. Source: author's calculations based on IG Index data and company
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News
- Cash App's Savings Product Takes on Traditional Banks [Forbes]Forbes
- Wells Fargo Expands Down Payment Grant Program to Help Bridge Homeownership Gap [Yahoo! Finance]Yahoo! Finance
- Wells Fargo Expands Down Payment Grant Program to Help Bridge Homeownership GapBusiness Wire
- US Demand Is Still Resilient, Even If GDP Doesn't Show It [Yahoo! Finance]Yahoo! Finance
- US Demand Is Still Resilient, Even If GDP Doesn't Show It [Financial Post (Toronto, Ontario, Canada)]Financial Post
WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- WFC's page on the SEC website