Five Banking Stocks Billionaires Like

#1 Wells Fargo & Co (NYSE:WFC)

– Number of Billionaire Holders (as of September 30): 13
– Total Value of Billionaire Holdings in the Stock (as of September 30): $26.45 billion

Because of its low cost of funding and excellent returns on capital, Wells Fargo & Co (NYSE:WFC) has grown from a medium-sized regional bank to one of the world’s largest financial firms in just two decades. The bank’s quarterly dividend and stock price have appreciated by seven and nine times, respectively, in the same time frame. Wells Fargo got to where it was due to its conservative culture. Because it pays a lot of attention to loan quality and doesn’t trade the typical Wall Street derivatives, Wells Fargo sidestepped much of the havoc during the Great Recession and has rebounded quickly from 2008/2009. Given Wells Fargo’s dividend yield of 2.79% and its slow and steady culture, it’s not surprising that 13 billionaires, including Warren Buffett of Berkshire Hathaway, are bullish on the company.

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