|Bid||37.36 x 800|
|Ask||37.37 x 800|
|Day's Range||37.30 - 38.68|
|52 Week Range||20.76 - 44.32|
|Beta (5Y Monthly)||1.27|
|PE Ratio (TTM)||91.63|
|Earnings Date||Apr 14, 2021|
|Forward Dividend & Yield||0.40 (1.04%)|
|Ex-Dividend Date||Feb 04, 2021|
|1y Target Est||38.59|
Berkshire Hathaway's Charlie Munger explains why Warren Buffett and Berkshire are selling Wells Fargo stock but the Daily Journal, for which Munger is the executive chair, has kept its shares.
The financial sector suffered broad losses Thursday, as support from a big jump in Treasury yields wasn't enough to offset the broader-market selloff. The SPDR Financial Select Sector ETF fell 1.0% in afternoon trading, to pull back from Wednesday's record close, with 56 of its 65 equity components losing ground. Meanwhile, the S&P 500 slumped 1.9%. Among the financial ETF's (XLF) more-active components, shares of Bank of America Corp. slumped 0.7%, Citigroup Inc. shed 0.8%, Wells Fargo & Co. lost 1.4% and J.P. Morgan Chase & Co. slid 0.9%. Meanwhile, the yield on 10-year Treasury note jumped 11.0 basis points toward a one-year high of 1.499%. Higher long-term yields can lead to higher bank profits, as they can increase they spread between what banks earn on longer-term assets, like loans, that are funded by shorter-term liabilities. Over the past three months, the XLF has gained 16.3%, while the 10-year Treasury yield has climbed by 62.1 basis points and the S&P 500 has gained 6.0%.
Munger's thoughts from the Daily Journal annual meeting