NEW YORK (TheStreet) -- Usually disclosures are at the end of an article but on this one I need to be upfront.
Three years ago I retired from Wells Fargo (WFC), I have family positions in Wells stock and also have family members still employed there.
For those of you who remember the TV show Dragnet, I'm going to try to take the advice of Sgt. Joe Friday and keep my comments to "just the facts."
For those of you who have followed my articles you know my personal preference is my 10/10/10 B+ rule. If you buy stocks that analysts think will increase revenue, earnings and price by at least 10% and has a B+ balance sheet or better, your portfolio will be a good one.Wells Fargo doesn't hit all my benchmarks, but for those of you who just have to have at least one bank in your portfolio I think its a good choice. During the past month the price of the stock has been up and down but enters my 30-day charts about the same place it is today and about even to where it was 30 days ago, as is evidenced by this hourly trading chart provided by Barchart: For those of you who might think the stock's price has tracked the market I can report that while the market as measured by the Value Line Index was down about 4% in the last six months, the stock is up 2%: Wells Fargo, through its subsidiaries, provides retail, commercial, and corporate banking services primarily in the United States. The company operates in three segments: Community Banking; Wholesale Banking; and Wealth, Brokerage, and Retirement. The Community Banking segment offers deposits including checking, market rate, and individual retirement accounts; savings and time deposits; and debit cards. Its loan products comprise lines of credit, auto floor plans, equity lines and loans, equipment and transportation loans, education loans, residential mortgage loans, health savings accounts, and credit cards. This segment also provides equipment leases, real estate financing, small business administration financing, venture capital financing, cash management, payroll services, retirement plans, loans secured by autos, and merchant payment processing services; purchases sales finance contracts from retail merchants; and a family of funds, and investment management services.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV