Analysis of the Banking Giant
Wells Fargo & Company is an American multinational financial services company with over 8000 branches. It is the 4th largest bank in the US by total assets and is one of the largest banks as ranked by bank deposits and market capitalization. After many years lagging the S&P 500, Wells Fargo has surged in performance over the past year on the back of good results and upheaval in the banking industry. All financial companies did well this year as investors look to branch away from big-tech stocks, and longtime shareholders in Wells Fargo were rewarded for their commitment as the bank increased their quarterly dividend for Q3 while instituting massive buyback programs in Q1 and Q2, that contributed to the rapid rise in the price of the…
