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Wells Fargo Is Back


 

  • Wells Fargo & Company reported a solid Q1 2023 beat despite the banking crisis.
  • The large bank faces higher credit losses and deposit pressure.
  • Wells Fargo repurchased $4 billion worth of stock in a strong return to buying cheap shares.
  • Wells Fargo & Company stock remains cheap at 8x EPS targets.
While the U.S. banking sector was in a crisis during Q1, Wells Fargo & Company (NYSE:WFC) spent the quarter repurchasing a ton of shares. The large bank definitely faced growing credit problems, but the credit losses

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