12 Best Affordable Stocks To Buy Right Now

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10. Wells Fargo & Company (NYSE:WFC)

Forward P/E Ratio: 14.1

Earnings Growth This Year: 2.91%

Number of Hedge Fund Holders: 72 

Wells Fargo & Company (NYSE:WFC) is one of the best affordable stocks to buy right now. It offers a wide array of services, including banking, asset management, and insurance, through its various subsidiaries. In the third quarter of fiscal 2024, the company reported revenues of $20.4 billion and net income of $5.1 billion, serving approximately one-third of U.S. households and nearly 10% of small businesses.

Despite these figures, the company experienced a 2% decline in revenue and an 11% drop in net interest income compared to the same quarter in 2023. Nevertheless, Wells Fargo & Company (NYSE:WFC) remains optimistic about its future performance. It has strategically shifted its earnings profile by investing in key business segments while divesting from less profitable areas. This approach is expected to yield long-term benefits.

The company’s customer base exceeds 69 million across 22 countries and is supported by a robust network of over 5,600 branches and more than 11,000 ATMs. The bank’s extensive infrastructure gives it a competitive edge over its competitors.

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