Bank Of America: Double-Digit Upside After 35% Fall Last 3 Months [Seeking Alpha]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Seeking Alpha
|FinancialsBank Of America: Double-Digit Upside After 35% Fall Last 3 MonthsApr. 21, 2020 3:04 PM ETAbout:Bank of America Corporation (BAC)by: Librarian CapitalHedge fund analyst, long/short equitySummaryBank of America's share price has fallen 35% in the last 3 months, but it has outperformed other U.S. bank stocks since our initiation last October.20Q1 was too early to show the full impact of COVID-19, but experience from the 2008 crisis and the Fed's stress tests provide comfort.Loan losses in the next 2 years will likely be less than a high-single-digit percentage, within what can be absorbed by reserves & ongoing earnings.The most likely outcome is for a flat book value and a 13% return on equity in 2 years' time, implying a $28.30 share price on 11x P/E.At the current share price $22.50, this implies a 26% total upside and a double-digit annualized return over 2 years. We reiterate our rating.IntroductionWe initiatedour Buy rating on Bank of AmericaJPMour other Buy-rated U.S. b
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News
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- Cracks begin to appear at the biggest U.S. banks [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Wells Fargo & Company (NYSE:WFC) had its price target lowered by analysts at TD Cowen from $102.00 to $100.00. They now have a "hold" rating on the stock.MarketBeat
- Wells Fargo & Company (NYSE:WFC) had its "outperform" rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $100.00 price target on the stock.MarketBeat
- Wells Fargo & Company (NYSE:WFC) had its price target lowered by analysts at Evercore ISI from $110.00 to $105.00. They now have an "outperform" rating on the stock.MarketBeat
WFC
Earnings
- 1/14/26 - Miss
WFC
Sec Filings
- 1/16/26 - Form 424B2
- 1/16/26 - Form 424B2
- 1/16/26 - Form 424B2
- WFC's page on the SEC website