Long Position on WFC @ $48.00 on 8/10/2021 (Fundamentals)

Wells Fargo & Company (WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. 

right; border: 1px solid black;" />We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

Wells Fargo ranked No. 30 on Fortune's 2020 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health and a low-carbon economy.

Wells Fargo & Company reported 2nd Quarter June 2021 earnings of $1.38 per share on revenue of $21.2 billion. The consensus earnings estimate was $0.95 per share on revenue of $17.8 billion. Revenue grew 7.1% on a year-over-year basis.

This stock should see an increase in share prices as shares break out of their bullish "wedge."

Entry Point: $48.00

Trading Range: $20.76 - $49.34

Stop Loss: $45.60

Target Price: $52.75

Updates

8/13/2021 9:53:20 AM

WFC closed at $51

Position closed on 8/13/2021 at price of $51.00 with a 6.25% gain in 3 days.

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