Good article from an earning perspective, but also confirms that the initial optimism about Charlie being able to fix the bank’s many problems is fading.
Core points are:
Wells Fargo is flashing major warning signs from it’s core business, lending.
Wells Fargo is still plagued with the same issues that put us in the penalty box.
Our meager dividend and limited upside from here make us less attractive compared to other bank stocks.
Time to lock in your gains if you bought the stock on the cheap.