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Here's How Much Investing $100 In Wells Fargo Stock Back In 2010 Would Be Worth Today

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Here's How Much Investing $100 In Wells Fargo Stock Back In 2010 Would Be Worth Today

Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some big-name stocks didn’t keep pace along the way.

Wells Fargo’s Difficult Decade

One market laggard of the past decade was big bank Wells Fargo & Co (NYSE: WFC).

Wells Fargo and other U.S. banks were hit hard during the financial crisis in 2008 and 2009. Wells Fargo was actually part of the solution during the crisis, buying up the assets of Wachovia for $14.8 billion in 2008.

Unfortunately, while most U.S. banks were finally getting back on the right track in the second half of the 2010s, Wells Fargo was hit by an account fraud scandal in 2016 in which the company was found to be creating accounts on behalf of customers without their consent.

Wells Fargo started the 2010s trading at $27.32. The early years of the decade were difficult for bank stocks. Wells Fargo shares hit their low point of the 2010s during the Eurozone debt crisis in 2011, dropping as low as $22.58.

By mid-2013, Wells Fargo was back above $40 and making new all-time highs. The rally continued mostly interrupted until the big bank hit $58.76 in mid-2015.

See Also: Here's How Much Investing $100 In JPMorgan Stock Back In 2010 Would Be Worth Today

Wells Fargo In 2020 And Beyond

After four years of trading in a range between around $45 and $60, Wells Fargo shares broke out to the upside in the opening weeks of 2018, surging to their decade high of $66.31. The stock has since stalled thanks in large part to a Federal Reserve cap on the bank’s assets as part of the regulatory fallout from the account scandal.

Despite the bumpy road, Wells Fargo investors that held on through a volatile decade turned a significant profit, and $100 worth of Wells Fargo stock bought in 2010 would be worth about $240 today, assuming reinvested dividends.

Looking ahead, analysts expect additional upside for Wells Fargo may be hard to come by in 2020. The average price target among the 22 analysts covering the stock is $55, suggesting 6% upside from current levels.

Those gains could start as soon as Tuesday when Wells Fargo reports fourth-quarter earnings before the market open.

Posted-In: WachoviaGeneral Best of Benzinga

 

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