Wells Fargo: Weakest Capital Return Hike For Good Reason
Wells Fargo hiked capital return plans by over $3 billion.
The large bank had the smallest hike of the large banks.
The valuation thesis along with lingering fraud headwinds limit the relative value of the stock.
At a time when most of the large banks approved massive increases to capital returns, Wells Fargo (WFC) had a not so surprising limited bump in capital plans. The end result is the large bank that use to lead the sector in capital returns is now turning into a laggard confirming by previous investment thesis.
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