Right now, Wells Fargo stock trades for around 80% of its tangible book value. By comparison, Bank of America andJPMorganChase(NYSE:JPM) sell at valuationswell above their book value. Yes, considering the bad shape this money-center bank is in, it makes sense for shares to...
It remains to be seen whether Scharf can help salvage the bank’s reputation. Yet, with bank stocks heading lower, it’s more uncertain whether shares will rebound in the near term. So, let’s dive in, and see why it’s probably best to stay on the sidelines with Wells Fargo stock. ...