On CNBC’s “Halftime Report Final Trades,” Stephanie Link of Hightower said Wells Fargo & Co (NYSE:WFC) “trades at 1x book and yields about 2%.”
Wells Fargo is highly sensitive to rate hikes and a 50 basis points increase by the Federal Reserve could add 16% to the bank’s earnings and 7% to its net interest income, Link mentioned. “Expenses are in check. The company’s doing a really good job improving on that front as well,” she added.
