WFC - Wells Fargo, Inc.

WFC (Wells Fargo, Inc.)

• Entry price: $26.30
• Risk Level: 8
• Profit Potential: 7
• 1 yr Target Price: $28-$35

With investors feeling a little uneasy with the financial market it is hard to believe that Wells Fargo would be a hot stock to invest in, but it is because in June of 2009 the actual EPS is recorded at 0.23 higher than analysts at Yahoo Finance estimated. The same analysts also project next year’s quarter growth to be 131.6% and next year’s growth to 122.7%. Since March of 2009 there is an upward trend from $8.12 a share to the current price. On July 22, 2009 WFC reported revenue of $22.5 billion, up 28% (annualized) from first quarter. Wells Fargo net income of $3.17 billion was also up 81% from last year. WFC also reported net income applicable to common stock of $2.58 billion, up 47% from last year.

Since combining assets with Wachovia Insurance Services on July 1, 2009, Wells Fargo becomes the world’s fourth largest insurance firm and the largest bank-owned insurance brokerage in the U. S.

In addition to the positive growth trend, on August 5, 2009 Wells Capital Management has been selected by Nomura Asset Management to manage the new Emerging Markets Consumer Stock Fund. The fund was launched in Japan on July 24 and total assets exceed $1 billion, with strong subscriptions adding to the initial launch size of $740 million. The fund is distributed in Japan by Nomura Securities.

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