Wells Fargo Is Dominating
Wells Fargo beat earnings estimates by a penny, coming in at $0.82 for the second quarter. That's a dozen cents above last year's Q2. Wells pretty much did what we expected. It's continuing to dominate the mortgage market with its mind-boggling one-third share of the market. It's doing exactly what a strong company is supposed to do in times of market turmoil -- vaccuum up market share at competitors' expense.
Senior banking analyst Anand Chokkavelu explains in the following video.
With so many of the big finance firms getting bad press these days you may be inclined to stay away from the sector entirely, but that could be a huge mistake. In fact some of the best opportunities over the next few years can be found there, including one small, under-the-radar bank. It's been called one of The Stocks Only the Smartest Investors Are Buying. You can learn about it, and more, in our exclusive free report. Just click here to keep reading.
The article Wells Fargo Is Dominating originally appeared on Fool.com.Anand Chokkaveluowns shares of Bank of America, Citigroup, Wells Fargo, and JPMorgan Chase. He also owns long-dated options on Bank of America and warrants on Citigroup, Wells Fargo, and JPMorgan Chase. The Motley Fool owns shares of JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup and has created a covered strangle position in Wells Fargo.Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.