Stock Buy - Wells Fargo Bank

I took action on one of the stocks listed on my April watch list. Just before Friday's market close I bought shares of Wells Fargo Bank. If you're a regular follower of my blog, you already know that I've bought up banking and insurance stocks this year. I'm doing this because in today's market they offer the best discounts. This purchase of WFS is probably my last buy this year in this sector. I'll only add more shares, if these stocks continue to drop in price. I bought 80 shares of Wells Fargo Bank (WFC) at $47.06 per share, for a total of $3,764.80. This new stock holding will increase my annual dividend income by $120 dollars. Learn more about my other recent stock buys: Principle Financial Group, Toronto-Dominion Bank, Royal Bank of Canada, Bank of Nova Scotia, and Ameriprise Financial. Wells Fargo Bank has had it tough so far this year. WFC stock is down 13.41% YTD. This price drop has led to a better yield. WFC is currently yielding 3.19%, which is high for a U.S. bank. From an investor's perspective, WFC is arguably the best U.S. bank. WFC is also a darling stock of Warren Buffet. If it's good enough for the Oracle of Omaha, it's good enough for me.

Wells Fargo Bank Company Overview

Wells Fargo & Company is a financial services and bank holding company. The Company's segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Company's Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segment's products include investment, insurance and trust services, and mortgage and home equity loans. The Community Banking segment's products and business segments include middle market commercial banking, government and institutional banking, corporate banking and commercial real estate, among others. The Company's Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services. Source: schwab.com

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I am not a certified financial planner.  I am a personal investor and blogger who writes about my personal investing strategies.  Nothing I write should be used by anyone but me to make ...

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