Is Wells Fargo Still a Bargain?
Many investors, including myself, have been saying since last year that Wells Fargo (NYSE: WFC) has looked very cheap despite the regulatory issues at the bank and all the trouble it had run into from the pandemic. And that promise has delivered mightily, with shares up more than double since the end of last October. The bank recently traded at nearly $46 per share. It's been a great run, but with that kind of appreciation, is Wells Fargo still a bargain? Let's take a look.
With the recent big gains, it's true that Wells Fargo doesn't look as cheap as it once did -- especially on a price-to-earnings (P/E) basis looking at estimated earnings in 2022, as pointed out by analysts in recent days.
Data source: Analyst earnings estimates for 2022, based on stock prices May 22.
Source Fool.com
