Deep Dive: Big banks’ businesses are improving, putting their stocks in a sweet spot [MarketWatch]
Wells Fargo & Company (WFC)
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Source: MarketWatch
Opinion: Big banks’ businesses are improving, putting their stocks in a sweet spot Some investors are concerned the U.S. stock market may have gotten ahead of itself because price-to-earnings valuations have increased so significantly. The same couldn’t be said of the big U.S. banks. In a report Jan. 8, D.A. Davidson analyst David Konrad said his team is “constructive” on the group because the P/E multiples are at the lowest levels since the financial crisis a little over a decade ago, expanding returns on equity (ROE), as well as what he called “improving business models” and “better clarity on regulations.” This chart shows the movement of trailing price-to-earnings ratios for the S&P 500 banking industry group and the entire S&P 500 Index SPX, +0.58% over the past three years, as calculated by FactSet: So FactSet’s figures are in line with Konrad’s. The banks are trading for 11.7 times trailing earnings, which is 54% of the S&P 500’s valuation of 21.6 times trailing earnings. Th
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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