Wells Fargo (NYSE: WFC) has been a terrible performer for bank investors, and not just during the COVID-19 pandemic. Over the past five years, Wells Fargo has underperformed the Financial Sector SPDR ETF (NYSEMKT: XLF) by a staggering 94 percentage points, thanks to its fake-accounts scandal and numerous other issues.
However, there’s reason to believe the bank could be one of the best performing stocks in the financial sector in 2021 and for years to come. In this Jan. 4 Fool Live video clip, Fool.com contributor Matt Frankel, CFP, and Industry Focus host Jason Moser discuss why Wells Fargo is Matt’s No. 1 financial sector stock for 2021.