WFC - Wells Fargo & Company

NYSE - Nasdaq Real Time Price. Currency in USD
-0.31 (-0.68%)
As of 12:00PM EST. Market open.
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Previous Close46.39
Bid45.95 x 1400
Ask45.96 x 1000
Day's Range45.68 - 46.67
52 Week Range43.34 - 54.75
Avg. Volume19,555,170
Market Cap190.494B
Beta (5Y Monthly)1.11
PE Ratio (TTM)11.38
EPS (TTM)4.05
Earnings DateApr 13, 2020
Forward Dividend & Yield2.04 (4.28%)
Ex-Dividend DateFeb 05, 2020
1y Target Est50.70

    Warren Buffett's Trades Show Some Interesting Themes in 2019

    Berkshire's portfolio movements suggest that managers are trying to undo mistakes Continue reading...

  • Warren Buffett Continues to Curb Long-Held Wells Fargo Stake

    Warren Buffett Continues to Curb Long-Held Wells Fargo Stake

    The guru says the embattled bank should have addressed account scandal ‘immediately,’ but is not specifically why Berkshire is selling Continue reading...

  • The Zacks Analyst Blog Highlights: Coca-Cola, Wells Fargo, U.S. Bancorp, TJX Companies and Southern

    The Zacks Analyst Blog Highlights: Coca-Cola, Wells Fargo, U.S. Bancorp, TJX Companies and Southern

    The Zacks Analyst Blog Highlights: Coca-Cola, Wells Fargo, U.S. Bancorp, TJX Companies and Southern

  • For Wells Fargo and former executives, $3 billion-deal with U.S. may not be the end

    For Wells Fargo and former executives, $3 billion-deal with U.S. may not be the end

    Although Wells Fargo & Co settled major probes with federal agencies over abusive sales practices last week, the bank and its former executives are not out of the woods yet, legal and regulatory experts said. Wells, the fourth-largest U.S. lender, reached a $3 billion deal with the U.S. Department of Justice and Securities and Exchange Commission on Friday related to opening fake customer accounts.

  • Engage3 founder Ouimet steps down from management
    American City Business Journals

    Engage3 founder Ouimet steps down from management

    Ken Ouimet, founder of Davis-based retail technology company Engage3, has relinquished the CEO title to focus on technology and science.

  • American City Business Journals

    See inside OBJ's 2020 Mentoring Monday event (PHOTOS)

    Central Florida businesswomen shared their strength as Orlando Business Journal’s Bizwomen Mentoring Monday event convened Feb. 24 at the Hyatt Regency Grand Cypress. “It is an honor and a humbling experience,” first-time Mentoring Monday mentor Regine Bonneau told Orlando Business Journal. Bonneau, who was in OBJ’s 40 Under 40 Class of 2018 and is a 2019 Women Who Mean Business Awards: Business Owner of the Year honoree spent the morning sharing her experiences as founder and CEO of Winter Park-based RB Advisory LLC. “I am able to now pass on some of the wisdom that I have been fortunate enough to receive from my many mentors.” The list of 2020 participants also features veteran mentors including Kelly Cohen, partner and chief marketing officer of The Southern Group, who has given her time for all seven Mentoring Monday events.

  • Buffett Plays ‘Wait and See’ With Democratic Nomination

    Buffett Plays ‘Wait and See’ With Democratic Nomination

    (Bloomberg) -- Warren Buffett said he’s not yet picked a candidate in the U.S. presidential race.“I think I’m going to wait and see who gets the nomination,” Buffett said Monday in an interview with CNBC. “Normally, I vote for Democrats. We will see what happens.”Buffett, who runs Berkshire Hathaway Inc., endorsed Hillary Clinton for the 2016 election against now-President Donald Trump, and attended fundraisers for both Clinton and Barack Obama ahead of the 2008 primaries. The son of a Republican U.S. congressman, Buffett, 89, said he’s a capitalist, not a “card-carrying” Democrat.Democratic candidates vying for the nomination include Vermont Senator Bernie Sanders, who’s gained momentum with victories in Nevada and the New Hampshire primary. While Buffett agrees with Sanders that the country needs to do more for people who are left behind, he doesn’t think that requires dismantling “the golden goose” of capitalism.“I actually agree with him in terms of certain things he would like to accomplish,” Buffett said. “I don’t agree with him in many ways.”Buffett said he would prefer former New York City Mayor Michael Bloomberg over Sanders, who embraces what he calls democratic socialism.“I would certainly vote for him,” Buffett said of Bloomberg. “I don’t think another billionaire supporting him would be the best thing to announce.”Bloomberg’s campaign has said he would sell his company, Bloomberg LP, if he’s elected president. Buffett said he wouldn’t be a buyer because some other bidder is likely to emerge that would pay more. (Bloomberg is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)Buffett’s business partner, Charles Munger, said earlier this month that Michael Bloomberg could garner the votes of many moderates, increasing his chances in the election. Munger, a lifelong Republican, declined to name which candidate, if any, he was supporting. Buffett expressed support for Bloomberg in early 2019, ahead of the candidate’s official entry into the race.U.S. equities dropped Monday as the coronavirus continued to spread beyond China. Buffett said the virus hasn’t affected his long-term outlook on stocks, since he often views investing through a multi-decade lens.“It is scary stuff,” Buffett said. “I don’t think it should affect what you do in stocks. But in terms of the human race, it’s scary stuff.”Buffett spoke after releasing his annual letter and fourth-quarter earnings on Saturday. He said in the letter that shareholders can expect to hear more from top lieutenants Ajit Jain and Greg Abel, seen as the top contenders to eventually replace him as CEO. The company’s earnings report showed Berkshire stepped up its share repurchases at the end of 2019, spending $2.2 billion for the biggest tally ever in a single quarter.Berkshire’s Class A shares fell 2.5% to $335,027 at 11:09 a.m. in New York. They’re down 1.4% for the year.Here are some other key takeaways from Buffett’s comments Monday:On GeicoLast year, Berkshire announced that Todd Combs, one of Buffett’s key investing deputies, would take over as Geico’s chief executive officer. That change is temporary, Buffett said Monday.“Todd is there and I hope very much that he’s not there very long,” Buffett said. “Our intention always is to promote from within. We would hope to pick out the right person at Geico.”On Yield HuntBuffett criticized companies willing to take on more risk in the hunt for higher returns.“Reaching for yield is really stupid, but it’s very human,” he said.On AirlinesBuffett, whose company owns stakes in Delta Air Lines Inc. and Southwest Airlines Co., said it’s “very unlikely” Berkshire would buy an airline outright because of the heavily-regulated nature of the industry.On CryptoBuffett’s lunch with Chinese cryptocurrency entrepreneur Justin Sun doesn’t seem to have changed his mind on the asset.“Cryptocurrencies basically have no value -- they don’t produce anything,” Buffett said.On PG&EThe billionaire investor’s company owns a sprawling energy empire across the U.S. and even in the U.K. Still, he doesn’t seem to want to add PG&E Corp. to the mix, despite urging from California Governor Gavin Newsom.PG&E filed for Chapter 11 bankruptcy protection more than a year ago after its equipment was blamed for causing some of the worst fires in California history, resulting in about $30 billion in liabilities.“It’s too tough,” Buffett said, while praising Newsom. “I don’t know how to solve all that.”On Wells FargoBerkshire sold some of its Wells Fargo & Co. stake in the fourth quarter, taking that investment down to $17 billion at the end of the year. Buffett declined to give his current views on the company and reiterated that the bank made a mistake in not responding to its issues more quickly.“Some of it was sold down to avoid being over 10%,” Buffett said of the Wells Fargo stake, referring to U.S. regulations governing maximum bank ownership stakes. “We’ve sold more than that.”On Kraft HeinzBuffett said the company is “still a great business” even after struggles including a major writedown last year.Berkshire continues to carry the investment at $13.8 billion on its balance sheet, even though its market value was $10.5 billion at the end of 2019.(Updates with comments on coronavirus starting in 10th paragraph.)To contact the reporter on this story: Katherine Chiglinsky in New York at kchiglinsky@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Wells Fargo Fined $3B by Regulators to Settle Sales Scandal

    Wells Fargo Fined $3B by Regulators to Settle Sales Scandal

    Though the settlement of fake account litigation will help Wells Fargo (WFC) overcome a major hurdle, several other ongoing probes remain a drag on its financials.

  • Benzinga

    Benzinga Pro's Top 5 Stocks To Watch For Mon., Feb. 24, 2020: NNVC, WFC, SPCE, LL, CETX

    Benzinga Pro's Stocks To Watch For Monday NanoViricides (NNVC)  - Shares were up 30% ahead of the open as a continued increase in the number of coronavirus cases is the main headline impacting Wall Street ...

  • Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal

    Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal

    Wells Fargo & Co has agreed to pay $3 billion (2.3 billion pounds) to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday, wrapping up one of the last major investigations looming over the bank. Wells Fargo will pay the penalties to the U.S. Justice Department and Securities and Exchange Commission and enter into a three-year deferred prosecution agreement during which the San Francisco-based bank will continue to cooperate with any ongoing government investigations, Justice Department officials said. In a statement, Charles Scharf, Wells Fargo's new chief executive, described the past conduct as "reprehensible." Wells Fargo is the fourth-largest U.S. lender.

  • Wells Fargo Pays $3 Billion, Avoids Prosecution Over Abuses

    Wells Fargo Pays $3 Billion, Avoids Prosecution Over Abuses

    (Bloomberg) -- Wells Fargo & Co. will pay $3 billion to settle U.S. investigations into more than a decade of widespread consumer abuses under a deal that lets the scandal-ridden bank avoid criminal charges.The deferred-prosecution agreement with the Department of Justice spares the company a potential conviction that can create serious complications for banks, if it cooperates with continuing probes and abides by other conditions for three years. The accord also resolves a complaint by the Securities and Exchange Commission.Investigators found Wells Fargo’s overly aggressive sales targets led thousands of employees to open millions of bogus accounts for customers and foist other products on them from 2002 to 2016, often by creating false records or misappropriating their identities, the Justice Department said Friday. That generated millions of dollars in fees and interest and in some cases damaged customers’ credit ratings.“Our settlement with Wells Fargo, and the $3 billion criminal monetary penalty imposed on the bank, go far beyond ‘the cost of doing business,’” U.S. Attorney Andrew Murray for the Western District of North Carolina said in a statement. “They are appropriate given the staggering size, scope and duration of Wells Fargo’s illicit conduct.”The settlement is the bank’s largest yet from a series of scandals that claimed two chief executive officers. But for shareholders it’s in line with the more-than $3 billion the bank set aside for legal matters in the latter half of 2019 as negotiations progressed. It marks another step in efforts by CEO Charlie Scharf, who took over in October, to turn around the San Francisco-based lender as he conducts a review of all operations. The shares climbed about 1% in extended trading after the accord was announced.“The conduct at the core of today’s settlements -- and the past culture that gave rise to it -- are reprehensible and wholly inconsistent with the values on which Wells Fargo was built,” Scharf said in a statement Friday, outlining steps the bank has taken to reform over the past three years.Still, it’s hardly the end of the legal woes. The firm remains under a growth cap imposed by the Federal Reserve. The Office of the Comptroller of the Currency announced civil charges last month against eight former senior executives, some of whom settled. Probes into allegations at other businesses are continuing.And on Friday, House Financial Services Committee Chairwoman Maxine Waters announced she plans to have Scharf and Wells Fargo Chair Elizabeth Duke testify during a trio of hearings on the bank next month. Waters called the latest penalty disappointing, saying it “barely dents” the company’s profits from the period and is dwarfed by tax breaks the firm has since received under President Donald Trump’s administration.“Despite today’s settlement, these hearings and the committee’s investigation will make clear that the problems at Wells Fargo remain unresolved,” the California Democrat said.Scandals in Wells Fargo’s consumer operations erupted in 2016 with the revelation that employees may have opened millions of fake accounts to meet sales goals. The company’s expenses surged as new details emerged and as additional lapses and wrongdoing surfaced across business lines including mortgages and auto lending.The company’s stock has suffered ever since, closing on Friday just below the level it was at when the problems emerged more than three years ago.While the sales abuses have been described repeatedly in earlier probes, Friday’s settlement provides yet more details on the high-pressure environment that led legions of low-level employees to break the law -- often costing them their jobs when they were caught by the firm’s internal controls. Many inside the bank referred to abusive sales practices as “gaming,” according to prosecutors.That often included misappropriating customers’ identities to open checking and savings accounts, issue debit or credit cards, or enroll people in bill-pay or remittance services, prosecutors said. Employees sometimes forged client signatures, created PIN numbers to activate cards and moved money to simulate account funding. Some staff even altered contact information to prevent customers of learning about their unauthorized accounts or receiving satisfaction surveys.Senior managers were aware of the issues as early as 2002, with one internal investigator describing it as a “growing plague” two years later, and another remarking that it was “spiraling out of control,” investigators found. Yet senior leaders in the community banking division refused to alter their sales model or ratchet down unrealistic targets. They later minimized the problems to higher-ups and the board, blaming them on rogue employees, prosecutors said.The deal includes a $500 million payment to the SEC, which granted the bank a waiver to continue private placements of securities to accredited investors such as hedge funds. The settlement doesn’t resolve any criminal or civil liability for individuals, according to a senior Justice Department official.“This resolution is with respect to the bank only,” U.S. Attorney Nick Hanna told journalists in Los Angeles. “The investigation is ongoing.”The Justice Department said it considered Wells Fargo’s cooperation and prior settlements when deferring prosecution. The bank previously paid more than $1 billion to federal regulators for consumer mistreatment, $575 million to 50 states and the District of Columbia and $480 million for an investor class-action lawsuit.(Updates to add that CEO and chair will testify at congressional hearing in ninth paragraph)\--With assistance from Edvard Pettersson, Steve Dickson and Josh Friedman.To contact the reporters on this story: Hannah Levitt in New York at;Tom Schoenberg in Washington at tschoenberg@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at, ;Jeffrey D Grocott at, David Scheer, Joe SchneiderFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.


    Wells Fargo Agrees to Pay $3 Billion to Settle Fake-Account Claims

    Wells Fargo has agreed to pay $3 billion to settle claims related to its fake accounts scandal, the U.S. Department of Justice said Friday.

  • Auditorium Theatre strengthens board of directors with four new members
    American City Business Journals

    Auditorium Theatre strengthens board of directors with four new members

    The new board members are arriving as the Auditorium charts a future without the Joffrey Ballet as a resident company.

  • Factbox: Remaining hurdles for scandal-hit Wells Fargo

    Factbox: Remaining hurdles for scandal-hit Wells Fargo

    More hearings: The House Financial Services Committee said on Friday that it will conduct three Wells Fargo hearings next month where new Chief Executive Charles Scharf and other company officials will be probed about the scandal. Scharf has tried to place the scandal squarely in the past, describing "historical" and "legacy" issues, but lawmakers will rehash Wells Fargo's mistakes in public. Consent orders: Wells Fargo is currently operating under roughly 14 consent orders with various regulators including the Office of the Comptroller of the Currency, Securities and Exchange Commission and the Consumer Financial Protection Bureau.


    Wells Fargo Reaches $3 Billion Settlement with DOJ, SEC

    Wells Fargo admits its fake-accounts scandal was 'reprehensible,' sets aside fund for investors.

  • Wells Fargo agrees to $3B settlement over sales scandal
    American City Business Journals

    Wells Fargo agrees to $3B settlement over sales scandal

    Wells Fargo & Co. has agreed to pay $3 billion in a settlement reached with the United States Department of Justice and U.S. Securities and Exchange Commission.

  • MarketWatch

    Wells Fargo settles fake-account scandal for $3 billion

    Wells Fargo & Co. said late Friday it has agreed to settle Justice Department and Securities and Exchange Commission investigations into the bank's sales practices. As part of the deal, Wells Fargo has agreed to pay about $3 billion. "The conduct at the core of today's settlements -- and the past culture that gave rise to it -- are reprehensible and wholly inconsistent with the values on which Wells Fargo was built," Chief Executive Charlie Scharf said in a statement. "We are committing all necessary resources to ensure that nothing like this happens again, while also driving Wells Fargo forward." The agreement includes the criminal DOJ investigation into the bank's practices from 2002 to 2016; as part of the deal, no charges will be filed. Separate deals close the books on a DOJ's civil probe and a civil SEC investigation, Wells Fargo said. The bank has also agreed to set a $500 million fund to benefit "investors who were harmed by the conduct covered in the agreement," the bank said. The fund is part of the $3 billion settlement. Shares of Wells Fargo rose nearly 2% in the extended session, after ending the regular trading day up 0.8%.

  • Business Wire

    Wells Fargo Reaches Settlements to Resolve Outstanding DOJ and SEC Investigations Related to Historical Community Bank Sales Practices

    Wells Fargo Reaches Settlements to Resolve Outstanding DOJ and SEC Investigations Related to Historical Community Bank Sales Practices

  • 7 Tarnished Blue-Chip Stocks to Ditch Now

    7 Tarnished Blue-Chip Stocks to Ditch Now

    When investors buy stocks for the long haul, the holding period is ideally forever. But that is not always possible. Valuations may reach unfavorable levels or fundamentals may worsen. When that happens, investors need to re-evaluate the company's long-term prospects. One of the quickest negative catalysts that will accelerate a blue chip's safe-haven status is if it gets in the news. That is, news reports that tarnished the company's branding just might hurt the future returns.Sometimes headlines try to hurt a company's branding but are really just noise that investors should ignore. Deeper research into the latest headlines concerning the stock is necessary before acting irrationally and selling. But the biggest "tell" that a company is broken enough that it is time to sell is looking at fundamentals. If revenue is slowing and profits are shrinking, an investment portfolio's performance will suffer. When that happens, it is time for investors to ditch that holding.Macroeconomic risks are higher than ever. Devrim Yaman, a finance professor and associate dean at Western Michigan University's Hawthorn College of Business, said in an email to InvestorPlace that "in 2020, we expect markets to be particularly volatile. This is partly due to the uncertainty surrounding the presidential election in November as well as the primaries before that. The U.S.-China trade war and the economic impact of the coronavirus will likely exacerbate the volatility."InvestorPlace - Stock Market News, Stock Advice & Trading TipsFurther, Yaman pointed out the performance disparity between low and high volatility stocks will widen. She said "I expect investors to gravitate towards the high volatility factor in 2020 in order to profit from these fluctuations. This is in contrast to the historical long-term data which shows that overall low volatility stocks earn higher returns than high volatility stocks." * 10 S&P 500 Stocks to Buy Increasing Their Dividends in 2020 The combination of macro risks and tarnished brands suggests that investors might want to drop seven of the following stocks. Blue-Chip Stocks to Sell: Wells Fargo (WFC)Source: Martina Badini / Wells Fargo (NYSE:WFC) is in the news after U.S. regulators are fining eight former executives over the account scandal. Four years ago, the bank pressured employees to meet difficult sales targets. This resulted in employees opening millions of fake accounts to meet those targets. In the last six months, the stock climbed from a bottom of $43.34 and topped $54.75. And in hindsight, Wells Fargo stock peaked at the end of 2019 ahead of its quarterly earnings report.The fourth-quarter report had two weak results that suggest investors should ditch the stock. Non-interest income grew by 4% but was offset by a 6% decline in net interest income. The bank blamed low interest rates, which suggests that a further Federal Reserve rate cut will continue pressuring this bank's results.Wells Fargo also posted higher litigation accruals, to the tune of $1.5 billion. Bulls may argue that the balance sheet cleanup with the write-down sets a bottom from here. The new CEO is at the beginning phases of orchestrating a turnaround. At a price-to-earnings ratio below 12 times and a dividend that yields over 4%, value investors may speculate by buying WFC stock here.In a price-to-earnings model, Wells Fargo stock is worth approximately $46 (per Range Conclusion Selected LTM P/E Multiple 8.x-10x 9x Selected Forward P/E Multiple 11.1x-13.5x 12.3x Fair Value $41-$50.64 $45.82 Table courtesy of finbox.ioFor anyone who has held the stock for a long time, selling shares would help avoid further losses. Cisco Systems (CSCO)Source: Valeriya Zankovych / Cisco Systems (NASDAQ:CSCO) reported Q2 results that sent the stock falling from $50 to around $47 last week. Non-GAAP earnings per share of 77 cents beat expectations. Yet revenue fell by 4% year-over-year to $12 billion. Despite the mixed results, management declared a 3% hike in the dividend, giving Cisco stock a yield of around 3%. Why sell Cisco when dividends are increasing?Unfortunately, the 3% dividend hike is small and reflects the weak cash flow. Rumors that it will buy FireEye (NASDAQ:FEYE) are equally troubling. Buying the underperforming business will cost at least $3.7 billion. If the business is slowing -- even though it benefits from secular growth trends from 5G, Wi-Fi 6 and 400G -investors should look elsewhere. The ongoing shift to the cloud is not accelerating Cisco's revenue growth. Conversely, investors could buy Google (NASDAQ:GOOG, NASDAQ:GOOGL) or Microsoft (NASDAQ:MSFT) stock instead. * 7 Failing Tech Stocks to Disconnect From Now Cisco's infrastructure platform and application segments posted falling sales year-over-year. Also, the services revenue growth of 5% is good but slow. At current prices, investors have better options elsewhere. Pfizer (PFE)Source: Manuel Esteban / Pfizer (NYSE:PFE) posted yet another quarterly earnings report that missed expectations. So unless the company achieves revenue growth of at least 5% annually over the next five years, shareholders should sell. The stock pays a dividend that yields 4.2%, but anyone who demands upside appreciation has many other drug stocks to consider instead.Sales of Ibrance, which treats metastatic breast cancer, rose 23% and is potentially a $5-billion-a-year product. But this year is a make-or-break year for the drug. CEO Albert Bourla said that "We continue to expect our two event-driven Ibrance early breast cancer programs, Penelope B, and powers to read out in late 2020 and early 2021 respectively. If successful, and following regulatory approval, these programs could double the number of patients eligible to benefit from Ibrance."Any negative data read for Ibrance may send Pfizer stock lower in 2020.Pfizer's sale of its Upjohn unit will bring in $12 billion in cash proceeds, which strengthens its balance sheet. Looking at the full year 2020, the company forecasts revenue of $48.5 billion to $50.5 billion. This weak outlook is due to the loss of exclusivity for Lyrica -- a pain medication -- in the U.S. CFO Frank D'Amelio said "the midpoints of these ranges imply … higher adjusted R&D expenses and higher adjusted other income, which reflects earnings from the consumer healthcare joint venture." Walgreens (WBA)Source: saaton / The market fooled investors into buying Walgreens (NASDAQ:WBA) stock in November 2019. A leveraged buyout by KKR (NYSE:KKR) would value the company at $85 billion. The deal is unlikely because it would require taking on too much debt. And so, Walgreens stock fell from $62, instead of heading toward the $71 take-out price.Walgreens acquired 1,932 stores from Rite Aid (NYSE:RAD), solidifying its play as a retail pharmacy. But CVS Health (NYSE:CVS) proved that vertical integration with a healthcare plan provider is a better approach. Walgreens posted revenue of $34.3 billion, up 1.6% over last year. In effect, the proposed buyout was the only positive catalyst lifting the stock.CVS Health posted a different story. The company reported revenue growing 22.9% to $66.9 billion. Adjusted operating income rose 1.3% to $3.8 billion. It looks like holding CVS stock and selling Walgreens stock would make the most sense for 2020. Besides, Walgreens is busy with a transformational cost management program instead of growing revenue. This will bring more than $1.8 billion in annual cost savings by 2022. It also led to a free cash flow generation of $674 million in the first quarter. While this program is on track, CVS offer investors better revenue growth now. * 7 'Strong Buy' Stocks With Over 50% Upside Potential Walgreens is still struggling with "noise in the second quarter." This suggests that the 13% headwind in earnings per share from the program will hurt WBA stock for now. 3M Company (MMM)Source: JPstock / 3M Company (NYSE:MMM) is trading at levels not seen since 2017. Even after the stock fell from a yearly high of $219 to the $160 level, the stock still trades at a premium valuation. Its price/earnings-to-growth (PEG) ratio is around 4.5 times.Investors could buy Honeywell (NYSE:HON) and pay a PEG of 2.8 times. So, it does not make much sense to continue holding 3M stock. In the fourth quarter, 3M took a restructuring charge that shaved 20 cents from its EPS. Management said that the $134 million charge "includes streamlining our organization by reducing approximately 1,500 positions spanning all business groups, functions and geographies."Cutting staff and reorganizing the units is the same as shuffling the deck. The lower headcount will save on costs but fails to grow the company. In fact, U.S. organic growth fell 3% in Q4. Transportation, electronics, safety and industrial businesses all performed poorly. Revenue from the electronics unit dragged Asia-Pacific revenue, which also fell 3%. Business dropped by 7% in Japan.Cautious investors may model revenue growing at no more than 2% annually in a 10-year discounted cash flow (DCF) model: revenue exit. Under the following assumptions, MMM stock is worth under $140 a share.Metrics Range Conclusion Discount Rate 8%-9% 8.5% Terminal Revenue Multiple 2.8x-3.8x 3.3x Fair Value $117.66-$161.85 $138.89 Upside -26.9%-0.5% -13.7% Table courtesy of Dell Technologies (DELL)Source: Jonathan Weiss / Once a publicly traded company, then privately traded, and public again, Dell Technologies (NYSE:DELL) is an inexpensive stock. It trades at a trailing P/E of 10.4 times and a forward P/E below 8. This just shows that investors should avoid the stock for a reason. The company bought EMC but did not have any synergies with it. It struggled to grow EqualLogic, a storage company. Conversely, shares of Seagate (NASDAQ:STX) and Western Digital (NASDAQ:WDC) are sharply higher over the last few years.Insider selling of DELL stock is another bearish signal. On the flip side, investors seeking an undervalued stock may look at HP (NYSE:HPQ) instead. If Xerox (NYSE:XRX) succeeds in buying it, HPQ stock will reward its investors.Dell's outlook is hardly encouraging, either. The company forecast fiscal 2020 sales of $91.8 billion to $92.5 billion. This is below the $93.5 billion consensus estimate. And in Q3, the net revenue grew by just 2% to $22.8 billion. So, as it spends its fiscal 2020 paying down the debt of around $5 billion, it still has $44.7 billion left.Dell stock has a good value score:DELL Industry S&P 500 Value Score 86 57 74 Price-to-Earnings 10 17.8 25.5 Price-to-Sales 0.4 0.7 2.4 Data courtesy of Stock Rover.comThe quality score suggests otherwise. Notice the low operating margin:DELL Industry S&P 500 Quality Score 48 52 80 Gross Margin 30.8% 27.8% 29% Operating Margin 2.4% 4.4% 13.4% Net Margin 4.2% 4.1% 9.6% Data courtesy of Stock Arista Networks (ANET)Source: Sundry Photography / Arista Networks (NYSE:ANET) posted Q4 revenue falling 7.3% over last year to $552.5 million. Earnings per share came in at $3.25. At a forward P/E close to 22 times, investors may not want to hold this market-valued stock when the IT sector is slowing down. So with both Cisco and Arista reporting a slowdown in the business, the risk of further downside is high.Arista posted revenue of $552.5 million and $2.4 billion for the year. Its 5-year total addressable market is $30 billion by 2024. Unfortunately, markets price stocks for the near term. If businesses are not increasing their orders for the company's campus Ethernet switch, the stock may correct further. The data center Ethernet switch business is supposed to offset the slowdown in switches. But data center revenue growth will not pick up until 2022.The company cut operating expenses and spent less on research and development. Headcount increased in sales and marketing, offset by a drop in other sales costs. By right-sizing the business, Arista may weather the storm. It might grow its cash from operations, too. In Q4, it generated $327 million of cash from operations. This allowed it to authorize a three-year $1 billion share buyback.Most analysts rate the stock a "hold," according to TipRanks. With little upside and a fair value between $197-$232, consider selling the stock.Chris Lau is a contributing author for and numerous other financial sites. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. He shares his stock picks so readers get original insight that helps improve investment returns. As of this writing, Chris Lau did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 S&P 500 Stocks to Buy Increasing Their Dividends in 2020 * 5 Tech Stocks Vying to Win the AR/VR Race * 7 U.S. Stocks to Buy on Coronavirus Weakness The post 7 Tarnished Blue-Chip Stocks to Ditch Now appeared first on InvestorPlace.

  • Justice Department announces $3 billion settlement with Wells Fargo
    ABC News Videos

    Justice Department announces $3 billion settlement with Wells Fargo

    Over 15 years, Wells Fargo employees made 2 million fake accounts, and the government said $500 million of the settlement will go to investors.

  • Wells Fargo to pay $3 bln for fake accounts
    Reuters Videos

    Wells Fargo to pay $3 bln for fake accounts

    Wells Fargo has reached a $3 billion settlement with U.S. authorities, making it one more step closer to putting its notorious fake-account scandal behind it. The tarnished bank will make the payment to the U.S. Department of Justice and the Securities and Exchange Commission, U.S. officials announced on Friday, putting to rest one of the final major investigations into the bank's wrongdoing. In what is rare for a corporate settlement, Wells Fargo admitted that for 14 years it pressured employees to meet "unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent." It also admitted that employees forged records or misused customer data. As part of the agreement, prosecution will be deferred for three years and during that time Wells Fargo will cooperate with any ongoing government probes. Bank CEO Charles Scharf, who was brought in after the scandal, said in a statement that his bank is now committed to making sure nothing like this ever happens again. The scandal rocked the bank, which once had a stellar reputation, and sparked contentious hearings on Capitol Hill. And more hearings are scheduled. The House Financial Services Committee is already planning three more hearings on Wells Fargo's conduct for next month.

  • Wells Fargo agrees to pay $3 billion, admits that employees falsified records
    ABC News Videos

    Wells Fargo agrees to pay $3 billion, admits that employees falsified records

    Employees opened millions of fake bank accounts in people’s names, without their knowledge, in an effort to meet unrealistic sales goals.

  • Wells Fargo reaches $3 billion settlement with Department of Justice, SEC
    Yahoo Finance Video

    Wells Fargo reaches $3 billion settlement with Department of Justice, SEC

    Wells Fargo will pay $3 billion to settle probes by the Justice Department and the Securities and Exchange Commission over its fake-account scandal, thus resolving both civil and criminal investigations into the banking giant's conduct. The Final Round panel discusses the details.