Another quarter is in the books, and things do not look dramatically different for America's largest banks. While granting that earnings momentum is still lacking, and a huge slug of bad debt and foreclosed homes is an albatross around the industry's neck, this still remains one of the most undervalued industries in the market. Barring a belief that the U.S. economy will never recover or that the government will regulate the industry into the ground, patient investors should consider accumulating and holding quality names like Wells Fargo (NYSE:WFC).
Second Quarter Results Without Much Sizzle
Unlike tech stocks this quarter, which seem to produce exciting results whether good or bad, bank stocks are producing pretty uniformly boring results. Wells Fargo is hardly different in that regard.
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Patience Will Pay At Wells Fargo (WFC, PNC, C, BAC, ZION, UMPQ, FCNCA)
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