Wells Fargo May be a First-Mover Among Large Banks in Returning to M&A, KBW Reports

KBW believes Wells Fargo WFC may be a first-mover among large banks in returning to M&A. “The firm's first-quarter balance sheet was very liquid with strong capital, yet revenue starved,” KBW writes. “In our view, Wells Fargo could likely pursue a stock or insurance brokerage firm or specialty lenders through M&A. We outline our thoughts on possible acquisitions and potential impacts, specifically looking at Wells buying the former Paine Webber from UBS.” Wells Fargo closed Thursday at $28.23.