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WFC Feb 2025 60.000 put

OPR - OPR Delayed price. Currency in USD
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5.860.00 (0.00%)
As of 12:11PM EDT. Market open.
Full screen
Previous close5.86
Open5.65
Bid0.00
Ask0.00
Strike60.00
Expiry date2025-02-21
Day's range5.65 - 5.86
Contract rangeN/A
Volume327
Open interestN/A
  • Yahoo Finance Video

    There's 'hidden value' in Wells Fargo: Portfolio manager

    As big banks are set to report their third quarter earnings, Gabelli Funds portfolio manager Macrae Sykes joins Catalysts to discuss his top picks in the sector. Sykes points to Wells Fargo (WFC) as one of his top holdings, explaining that the bank has underperformed since it became subject to an asset cap in 2018. However, the bank is reportedly in the final phase of getting its asset cap lifted, which would be very bullish for the stock. In addition, Sykes believes that investors appreciate Wells Fargo's growth path ahead, noting that there's "hidden value" in the company. Sykes adds that Citizens Financial Group (CFG) is in a solid position after acquiring Silicon Valley, despite facing some NII (net interest income) headwinds next year. When it comes to regional banks in general, he expects these companies to be "better positioned and normalized." He explains, "The CRA (Community Reinvestment Act) to some extent has stabilized a little bit. Real estate is doing a little bit better. So I think that helps them. They're more sensitive certainly to NII than, say, the bigger banks, which have more contribution from other segments as well." Warren Buffett's Berkshire Hathaway (BRK-B, BRK-A) offloaded nearly $10 million worth of Bank of America (BAC) shares, and Sykes says, "Obviously, when the biggest shareholder and one of the world's foremost investors is selling, clearly it gives you pause." He explains that Berkshire likely decided to manage its portfolio risk. However, he sees "pretty good trends" ahead for the bank. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Melanie Riehl

  • Yahoo Finance Video

    Bank earnings on deck: What investors can expect

    Big banks will kick off the third quarter earnings season as JPMorgan (JPM), Wells Fargo (WFC), and BlackRock (BLK) are all expected to report earnings on Friday. Gabelli Funds portfolio manager Macrae Sykes joins Catalysts to break down what investors can expect from the bank earnings ahead and how major firms will be impacted by the Federal Reserve's rate-easing cycle. "I think it should be a pretty good earnings season. We do know that there's going to be some headwinds from NII (net interest income) that's shifting around a little bit. But the S&P financials (^SPSDMUN) is up about 10% for the quarter, so good anticipation of the results. You have the S&P up 6% during the quarter. That's good for wealth and asset management contribution in terms of fee revenue. Deposits up 1%, 4% annualized, so that's supportive of balance sheets. NIMS (net interest margin security), we had this surprise 50-basis-point cut versus 25 in the quarter. That's not really going to be impactful but that gives a good setup for going forward in terms of the net interest margins normalizing and getting better going into '25, '26," Sykes tells Yahoo Finance. Thus, he believes that while these earnings will be good for banks, investors will be looking for better acceleration over the next few years as both the consumer and credit are performing well. As the Federal Reserve continues to ease interest rates, Sykes explains that banks that are asset-sensitive, like JPMorgan, will face some pressure when it comes to their balance sheets. While the size and pacing of the Fed's next steps are unknown, Sykes explains, "I think the banks will react accordingly and that will be a good environment." He continues, "And then we've seen the rate curve in general flatten out, so stop the inversion. And I think that's a good path to recovery in terms of managing your liabilities and assets." To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Melanie Riehl

  • Yahoo Finance

    The big question hanging over banks as earnings season starts

    Investors have questions about how a new Federal Reserve rate-cutting cycle will affect the biggest US banks, and they will be looking for some answers as third quarter earnings season begins Friday.