Wells Fargo (NYSE:WFC) shares snapped six straight sessions of gains on Friday, as the stock closed 0.7% lower at $79.42.
The bank gained about 7% in the preceding six sessions. The stock has gained nearly 14% so far this year, compared to the over 4% rise in the broader S&P 500 Index.
WFC is up 7% over the past one month. The stock closed 1.13% higher on Thursday at $79.96.
Looking at Seeking Alpha’s Quant Rating, WFC has a Buy rating with a score of 4.39 out of 5. The company received A- for momentum and profitability, while it got a D in the prospect of valuation.
Turning to the Wall Street community, 16 analysts gave WFC a Buy and above. Seven analysts have given the stock a Hold recommendation, and one recommended Sell.
Earlier this month, the Federal Reserve said that Wells Fargo is no longer subject to the asset growth restriction the regulator imposed on the bank in 2018, saying the bank has met all conditions required by the consent order.
Seeking Alpha analysts are cautious and see the stock as a Hold.
“With the asset cap crux out of the way, it would be tempting to believe that a major overhang is out of the way for WFC,” said a recent Seeking Alpha analysis by The Alpha Sieve.
However, the analysis added that WFC’s valuations are “now no longer cheap, and it is also unlikely to benefit from meaningful buyback support.”
JPMorgan Chase & Co. (NYSE:JPM) also snapped six straight sessions of greens on Friday. The stock gained over 5% in the last six days.
Baird downgraded JPM Underperform from Neutral, saying that “expectations are super high here” and returns “will likely not be what they’ve been the last several years at these valuation levels”.
Seeking Alpha analysts and Seeking Alpha’s Quant ratings consider the stock a Hold, while Wall Street rated it a Buy. JPM gained nearly 20% so far this year.