5 Best Bank and Finance Stocks to Buy According to Mario Gabelli

Page 1 of 5

In this article, we discuss the 5 best bank and finance stocks to buy according to Mario Gabelli. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Bank and Finance Stocks to Buy According to Mario Gabelli.

5. Wells Fargo & Company (NYSE: WFC

Number of Hedge Fund Holders: 94   

Wells Fargo & Company (NYSE: WFC) is ranked fifth on our list of 10 best bank and finance stocks to buy according to Mario Gabelli. The firm markets financial services and operates from California. According to the latest filings, GAMCO Investors owned more than 1.4 million shares in the company at the end of June 2021 worth $64.4 million, representing 0.54% of the portfolio. 

On July 15, investment advisory Barclays reiterated an Equal Weight rating on Wells Fargo & Company (NYSE: WFC) stock and raised the price target to $50 from $46, appreciating the earnings beat of the firm in the second quarter. 

At the end of the second quarter of 2021, 94 hedge funds in the database of Insider Monkey held stakes worth $7 billion in Wells Fargo & Company (NYSE: WFC) , down from 96 in the previous quarter worth $7.4 billion.

In its Q4 2020 investor letter, Davis Funds, an asset management firm, highlighted a few stocks and Wells Fargo & Company (NYSE: WFC) was one of them. Here is what the fund said:

“Detractors to performance relative to the index include financial services holdings such as Wells Fargo. While banks in general have suffered due to the recession and experienced credit losses, Wells Fargo also suffered from operational missteps. It is our expectation, however, that our bank holdings in general will benefit from stronger economic growth as the pandemic recedes; and we believe Wells Fargo in particular, will, over time, lower their costs and successfully grow their businesses.”

Page 1 of 5