5 Cheap Stocks to Buy Today According to Media

2. Wells Fargo & Company (NYSE:WFC)

Number of Hedge Fund Holders: 75

Wells Fargo & Company (NYSE:WFC) is one of the top cheap stocks to buy today according to media. Wells Fargo & Company (NYSE:WFC)’s PE ratio as of September 20 stands at 10.7. HSBC recently started covering Wells Fargo & Company (NYSE:WFC) with a Hold rating. A latest Reuters report said, quoting CFO Mike Santomassimo, that Wells Fargo & Company (NYSE:WFC) is expected to continue its layoff spree to cut costs and increase efficiency.

As of the end of the second quarter of 2023, 75 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Wells Fargo & Company (NYSE:WFC) as of the end of the June quarter.

Here is what Tweedy, Browne has to say about Wells Fargo & Company (NYSE:WFC) in its Q1 2023 investor letter:

“The Funds received very little in the way of return contributions from many of their financial, energy, media, and healthcare holdings. While it would appear that a crisis was avoided by the quick intervention of bank regulators in the US and Switzerland, some uneasiness still remains in the global banking community. This turmoil couldn’t help but have a negative impact on investor sentiment and in turn on Fund bank holdings such as Wells Fargo (NYSE:WFC).”