10 Cheapest Bank Stocks for 2011
7. Wells Fargo
Shares of Wells Fargo & Co. (WFC) closed at $25.84 Friday, declining 4% year-to-date. The forward price-to-earnings ratio was 8.6, based on the consensus 2011 earnings-per-share estimate among analysts polled by Thomson Reuters.
Income Statement Please see TheStreet's earnings coverage for details on Wells Fargo's second quarter results. Balance Sheet Wells Fargo was the fourth-largest U.S. bank holding company, with $1.2 trillion in assets as of June 30. Nonperforming assets comprised 4.26% of total assets, compared to 4.32% in March and 2.93% in June 2009. Stock Ratios Wells Fargo's shares were trading for 1.7 times tangible book value. The forward P/E ratio of 8.6 compares to year-end P/E exceeding 13 at the end of 2005, 2006 and 2007. Analyst Ratings There is strong enthusiasm for the shares, as 18 of 25 analysts covering Wells Fargo recommend buying, while 4 have hold ratings on the shares and 3 recommend selling.Select the service that is right for you!
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