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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 - Get Report), 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.