Wells Fargo are we good to participate in the banking industry?Hi guys ,off to our next opportuntiy WFC , currently one of the bigger banks in the US which have some good upside potential!
Fundamentals :
Financial Performance
In the third quarter of 2024, Wells Fargo reported a net income of $5.1 billion.
This performance reflects the company's resilience and adaptability in a dynamic economic environment.
Wells Fargo offers a comprehensive range of services, including banking, insurance, investments, mortgage, leasing, and credit cards. The company operates approximately 5,200 branches and 13,000 ATMs, serving one in three U.S. households and more than 10% of small businesses in the U.S.
The company has been under a regulator-imposed asset cap of approximately $1.95 trillion since February 2018, following past regulatory issues. There is anticipation that this cap may be lifted in 2025, which could significantly enhance Wells Fargo's growth and profitability.
Wells Fargo remains a significant player in the financial services industry, demonstrating both strengths and challenges. The company's extensive range of services and substantial asset base position it well for future opportunities, while ongoing regulatory and market challenges require careful navigation.
Entry : On market open
Target: 87.15
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