And even behind Citi. Of the big 4, it's a junk bottom of the barrel stock. Literally. Charlie Scharf can't seem to grow the bank, so he's relentlessly cutting, because it's all he knows how to do.
Helps explain the never ending layoffs.
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@ah Wells stock has gone up 300+% in last 5 years
Outstanding shares and liquidity certainly make a difference, but in the end, the biggest moves come from earnings and growth. A company won't outperform without growth in most cases.
@ew I didn’t see anybody talking about nominal changes and the stock price quip was an aside to the OP’s subject just putting WF’s nominal revenue in perspective to the actual big banks. You could quibble that comparing relative stock price changes is imperfect if capital structures differ or change but that’s angels on a pinhead.
J-C....do any of you know how stock prices work? You can't compare one company to another since they all have vastly different numbers of Shares available to purchase.
Of course I should be grateful people like you exist, it's easy to outperform you.
@OP But if WF is profitable, how can CS get it low enough for JPM to acquire at a rock bottom price? CS has destroyed WF...gotta ask why...
totally expected given we've been under a asset cap for like 7 years. Revenue is one thing, the bottom line NI for risk taken is what counts.
Meanwhile, despite similar revenue figures, Citi stock has grown 50% to Wells Fargo's 20%. From a pure stock perspective, BofA is the laggard, even though revenue is significantly more than WFC, at around 11%. JPM was around 18%.
Note that in markets, a rising tide lifts all boats and WFC's 20% rise in the last year probably has little to do with anything CS or the OC has done, and very much to do with other "orange" factors.
Considering the lift of the asset cap and other hurdles being cleared, 20% seems like it should have been better when ALL bank stocks were enjoying a friendlier regulatory environment. Might need to think about shorting WFC in 10 months as the damage they are doing coupled with a changing political landscape catches up to them.
Here's a thought, want to see WF's severance cost go down? Replace the CEO with one who has a growth strategy.
Offshoring has lowered the quality of services in every company that adopted it. That’s an undeniable fact.
If WF disappeared tomorrow nobody would notice or care. Hudson Yards is just a monument to an egotist’s posing equivalence to the money centers.