Wells Fargo Stock Seems Cheap, But Is It?

Wells Fargo Stock Seems Cheap, But Is It?

Wells Fargo (NYSE: WFC) has been the focus of a lot of unpleasant attention this year after regulators announced in September 2016 that thousands of its employees spent years opening millions of unauthorized fake accounts for customers in order to drive up the bank's cross-sale ratio. This has been bad for current shareholders of the nation's third-biggest bank by assets, but it might present an opportunity for enterprising investors who don't already own its stock.

There are three reasons to believe that Wells Fargo stock is cheap today. Though, given where the market is right now, as well as the fact that Wells Fargo could still face further regulatory and legal fallout from the frauds, this doesn't necessarily mean investors should immediately jump to buy shares.

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Source: Fool.com