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WELLS FARGO + CO.DL 1,666WW

WELLS FARGO + CO.DL 1,666

65.18EURD
−2.25−3.34%
At close at Mar 7, 22:09 GMT
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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 P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my community so you can follow up with me in private!
NLong
by DG55Capital
Wells Fargo & Company: Here's Why Investors Shouldn't Miss Out!Hello, Wells Fargo & Company is a financial services company. It provides a diversified set of banking, investment and mortgage products and services, and consumer and commercial finance, through banking locations and offices, the Internet www.wellsfargo.com) and other distribution channels to individuals, businesses and institutions in all 50 states, the District of Columbia and in countries outside the United States. Its segments include Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking, and Wealth and Investment Management. The Wealth and Investment Management segment provides personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services to affluent, high-net worth and ultra-high-net worth clients. Commercial Banking products and services include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management. TECHNICAL ANALYSIS- Checklist 1.Structure drawing (Trend line drawing on past price chart data)- As shown below 2.Patterns identification (Naming patterns on past price chart data for future wave)- The price is currently correcting & filling the Nov 5th gap. 3.Future indication (Reading indicator for future wave)- 0 crossover on MACD. 4.Future wave (Drawing on future price chart using future indication from indicator)- As shown 5.Future reversal point (Identifying trend reversal point on price chart using structure)- Target price $90 FINANCIAL SUMMARY BRIEF : From 2018 to 2023, total revenue increased overall from $96.25 billion to $116.22 billion, though it dipped in 2020 and 2022; net interest income fluctuated, starting at $49.99 billion in 2018, dropping to $35.78 billion in 2021, then recovering to $52.38 billion by 2023; meanwhile, net income was highly variable, peaking at $19.55 billion in 2019, significantly dropping to $3.38 billion in 2020, before soaring to $1.914 billion in 2023. Risks to consider •Revenue growth has become challenging at Wells Fargo. Though the Federal Reserve cut the interest rate by 50 basis points in September 2024, the bank’s Non-Interest Income may continue to face challenges in the near term as stabilizing funding costs might take time. The company is trying to increase fee-based income sources, but it will take some time to reflect in its financials. Hence, top-line growth is less likely to improve in the quarters ahead. Q3 EARNINGS SUMMARY (Date of release 11.10.2024) (Next report date Jan 15,2025) •Wells Fargo reported a net income of $5.1 billion down from 5.7 billion in the same Quarter last year 2023. •Total revenue decreased to $20.37 billion, down from $20.86 billion in Q3 2023. •Non-interest expenses were slightly reduced to $13.07 billion, compared to $13.11 billion a year earlier. •The provision for credit losses was reported at $1.07 billion, down from $1.20 billion in Q3 2023. •Average loans were $910.3 billion, a decrease from $943.2 billion. •Average deposits increased slightly to $1,341.7 billion, compared to $1,340.3 billion. •The bank repurchased 62 million shares, totaling $3.5 billion in Q3 2024. •Return on Equity (ROE) was at 11.7%, down from 13.3% in the prior year. •Return on Average Tangible Common Equity (ROTCE) decreased to 13.9%, from 15.9%. •Consumer Banking and Lending revenues decreased by 5%, primarily due to lower deposit balances. •Commercial Banking revenues showed a slight decline of 2%, while Corporate and Investment Banking revenues remained stable. •CEO Charlie Scharf highlighted ongoing investments in diverse revenue sources, with fee-based revenue growing by 16% during the first nine months of the year, largely offsetting net interest income challenges. Our recommendation Wells Fargo reported third-quarter earnings of $5.1 billion, which included a one-time loss of $447 million ($0.10 per share) due to adjustments in their investment securities portfolio. Despite this setback, the bank's strategic realignment is expected to bolster future interest income. Over the past year, Wells Fargo's stock has corrected -12% since November 2024 giving us a great entry opportunity. Key to note is also that Wells Fargo’s Share Repurchase has been performing a share repurchase program. In the reported quarter 3 2024, Wells Fargo repurchased 62 million shares, or $3.5 billion, of common stock. From a technical perspective, the recent correction in the Wells Fargo & Company stock provides a perfect entry point for this stock. The stock has approached its moving averages, which often signals potential support levels. Additionally, there's an anticipation of a zero crossover on the MACD (Moving Average Convergence Divergence), an indicator used to spot changes in a stock's momentum, suggesting a possible shift from bearish to bullish trends. This combination of technical signals indicates that the stock might be at an advantageous point for entry. Our target for this stock is at USD 90.14 with a buy at USD 71.31. Looking ahead, external factors like the election of Donald Trump and Republican control of Congress present potential opportunities for the U.S. banking sector, evidenced by a post-election rally of over 10% for many bank stocks. While valuations in the sector range from fair to slightly overvalued, easing capital regulations—such as the revised Basel III proposal that lowers capital requirements for large banks—could spur balance sheet growth, profitability, and shareholder returns. The proposed law revisions to reduce capital requirements and a more conducive environment for mergers and acquisitions could enhance profitability and shareholder returns. Our recommendation is Buy on this stock.
NLong
by thesharkke
20
WFC pullback to $64MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price above channels (period 100 52 39 & 26) Stochastic Momentum Index (SMI) at overbought level VBSM spiked positive Price at/near Fibonacci level In at $73.33 Target is $64.43 or channel bottom Stop loss is $76
NShort
by chancethepug
Wells Fargo Reports Earnings Next Week. What Do Its Charts Say?Wells Fargo NYSE:WFC and other big banks will release third-quarter earnings next Friday (Oct. 12) in what’s often referred to as the unofficial start of earnings season. WFC has trailed the S&P 500 year to date, but what might technical and fundamental analysis tell us could happen next for the stock? Let’s check it out: Wells Fargo’s Fundamental Analysis Wells Fargo currently trades at less than 11 times forward earnings, or about the same valuation as Citigroup NYSE:C but a notch less than both JPMorgan Chase NYSE:JPM and Bank of America $NYSE:BAC. (Those banks were trading at about 12x forward earnings as I write this.) For next week’s earnings report, the Street is looking for Wells Fargo to report $1.27 in earnings per share on $20.4 billion in revenue. That would be down from $1.39 EPS on $20.9 billion in revenue for the same quarter last year. In fact, the S&P 500’s financial sector as a whole isn’t expected to post a very good quarter due to challenges in creating net interest income. FactSet expects the sector to post 0.1% in overall year-on-year earnings growth on 4% revenue gains. That’s weaker than the 4.6% earnings growth and 4.7% revenue gains that FactSet projects for the S&P 500 as a whole. So, big banks are probably looking at some margin compression. Meanwhile, Wells Fargo has been moving on from a 2016 scandal that saw the bank try to plump up its business by opening new savings, checking and credit-card accounts for millions of people who hadn’t asked for them. The scandal prompted then-CEO John Stumpf to eventually resign, and the bank paid massive fines and lawsuit settlements. However, WFC has avoided such scandals since current CEO Charlie Scharf took over in 2019. Instead, it’s been methodically taking steps to show regulators that it’s now worthy of being treated as something other than the banking sector’s pariah. WFC recently submitted a third-party review of its risk and control overhauls to the Federal Reserve in an effort to remove a $1.95 trillion asset cap that regulators imposed on the bank in 2018. Separately, Wells Fargo has made a series of senior-level hires the past couple of years to expand its investment-banking business, which has long been a weakness for WFC relative to other money-center banks. So, there’s an ongoing effort to capture market share in a business that really wasn’t contributing to Wells Fargo’s results. Wells Fargo’s Technical Analysis Now let’s go to WFC’s charts, beginning with a look going back to mid-2023 and running through midday Tuesday (Oct. 2): Readers will see that WFC rallied from October 2023 into early May 2024. On the way down, the stock found temporary support at its 23.6% Fibonacci retracement level in June/July 2024, as denoted by the second-from-the-top black line above. Wells Fargo also saw support at 38.2% Fibonacci retracement level (the third black line from the top) for one day in early August 2024. It also received support at the 50% Fibonacci retracement (the fourth black in from the top) in both early August and again in mid-September. This created a so-called “double bottom” pattern within what’s known as a “falling wedge.” Both of these are historically patterns of bullish reversal. Now let me erase the Fibonacci model so I can show you exactly what I mean: In this chart, readers can see the falling-wedge pattern drawn with light-blue lines and the double-bottom pattern (with a $59 pivot) denoted with a purple line. The stock is sitting on two positive technical patterns going into a known earnings date that could act as a potential catalyst. Meanwhile, WFC’s Relative Strength Index (the gray line at the chart’s top) is very close to neutral, so that does not tell us much. However, look at Wells Fargo’s Daily Moving Average Convergence Divergence (MACD), as denoted by the black and gold lines and the blue bars at the chart’s bottom. All three components were negative as recently Sept. 18, which traditionally isn’t a bullish sign. That said, the histogram of Wells Fargo’s 9-Day Exponential Moving Average (or “EMA,” denoted with the blue bars above) was in positive territory as of Tuesday. The 12-Day EMA (the black line above) has also moved above the 26-Day EMA (the gold line), which is also typically a positive development. That 12-Day EMA is already above zero, but the 26-Day EMA is dragging below zero at this point. But if the 26-day EMA can move into positive territory without overtaking the 12-Day EMA and the 9-Day EMA remains positive, that would historically be a bullish set-up. (Disclosure: Moomoo Markets Commentator Stephen “Sarge” Guilfoyle was long WFC as of the time of writing this column.) This article discusses technical analysis, other approaches, including fundamental analysis, may offer very different views. The examples provided are for illustrative purposes only and are not intended to be reflective of the results you can expect to achieve. Specific security charts used are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. This content is also not a research report and is not intended to serve as the basis for any investment decision. The information contained in this article does not purport to be a complete description of the securities, markets, or developments referred to in this material. Moomoo and its affiliates make no representation or warranty as to the article's adequacy, completeness, accuracy or timeliness for any particular purpose of the above content. Furthermore, there is no guarantee that any statements, estimates, price targets, opinions or forecasts provided herein will prove to be correct. Moomoo is a financial information and trading app offered by Moomoo Technologies Inc. In the U.S., investment products and services on Moomoo are offered by Moomoo Financial Inc., Member FINRA/SIPC. TradingView is an independent third party not affiliated with Moomoo Financial Inc., Moomoo Technologies Inc., or its affiliates. Moomoo Financial Inc. and its affiliates do not endorse, represent or warrant the completeness and accuracy of the data and information available on the TradingView platform and are not responsible for any services provided by the third-party platform.
N
by moomoo
1
30% collapse by Wealth Fargo (WFC)Wells Fargo (WFC) recently tested and briefly exceeded the key psychological resistance at $60. However, this move above $60 was short-lived, followed by a strong downside wave accompanied by significant selling volume. This price action could be an early indication of potential weakness. Additionally, a bearish divergence has formed on the CCI oscillator, further supporting the idea of a possible trend reversal. Given these signals, WFC is presenting a solid risk-reward short opportunity that seems worth considering. Keep a close eye on this setup as it develops!
NShort
by CryptoPAMM
$WFC Bearish SqueezeBearish Divergence: Bearish divergence occurs when the price of an asset is making a higher high, but the technical indicator is making a lower high. This suggests that the momentum behind the uptrend is weakening, and the price may be about to reverse and start a downtrend. Bearish divergence is typically seen as a sell signal by traders and investors. If you look at NYSE:WFC it is increasing in price with momentum decreasing. It is also near is resistance level and only novice traders buy near its highs! Whats your thoughts on NYSE:WFC
NShort
by ImmaculateTony
WFC, dip then recover, or a breakdown?Wells Fargo (WFC) is currently in a consolidation phase near the lower end of its range dating back to March 2024. The stock's price has faced some challenges recently, including a notable drop of 6.02% on July 12, 2024. Despite these setbacks, the company's earnings and financial health remain solid, benefiting from higher interest rates. However, there is an expectation of potential rate cuts by the Fed in September, which could influence sector rotation away from banks to areas like energy and infrastructure. Monitoring how WFC performs around the $54 level could provide insights into future movements.
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by thinkCNE