Clearly, Wells Fargo is one of the better-positioned banks. It is in growth markets, has strong asset quality and profitability metrics and its valuation appears reasonable.
More Quotes from Mark Batty:
There are areas of weakness. It seems growth is difficult for banks, which I would attribute to a flat yield curve and higher funding costs.Mark Batty
Commercial and industrial loans are growing at a double- digit pace and that's indicative of a fairly strong economy. That, coupled with stable credit quality, has been a positive for banks that focus on small and middle-market businesses.
Mark Batty
The wind is at their back in many of their businesses. We're seeing out of the investment banks good capital markets business.
Mark Batty
The institutional business is very competitive. If you don't have meaningful scale, it's hard to compete.
Mark Batty
The yield-curve flattening has certainly been challenging for banks. The winners and losers will be decided on how well they can generate revenues faster than expenses are growing.
Mark Batty
Wells Fargo looks good. It had strong loan growth, credit quality remains stable, and the mortgage business looks robust despite higher interest rates.
Mark Batty
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