|Bid||0.00 x 1000|
|Ask||0.00 x 1000|
|Day's Range||110.19 - 111.08|
|52 Week Range||81.64 - 119.33|
|PE Ratio (TTM)||17.54|
|Earnings Date||Jul 13, 2018|
|Forward Dividend & Yield||2.24 (2.04%)|
|1y Target Est||122.07|
Millennials are leaving their mark on corporate culture. Yahoo Finance’s Alexis Christoforous, Andy Serwer, and Julia La Roche discuss whether these trends are happening in all sectors.
Although cryptocurrencies have been in existence for nearly a decade, it is only in the recent past that they have come to dominate conversations among investors. Over a roughly two-year period, digital currencies have experienced a boom in interest and value previously unseen in the area. Now, hundreds of cryptocurrencies have followed in the footsteps of early leaders like bitcoin (BTC), and there are a similarly staggering number of new applications and projects making use of blockchain technology as well.
The new branch applications are in addition to an initial seven branches announced by the bank back in April.
Year-to-date, Wells Fargo & Co (NYSE:WFC) stock is lagging the group, down 10% while other bank stocks like Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) are 10 points better off. WFC stock so far has been able to withstand selling pressure from tremendous market-wide fears, its own inflammatory headlines and tremendous global volatility, and has remained in line with price expectations.
Wells Fargo (WFC) has delivered stable profitability since the beginning of 2017 helped by rates and lower taxes in 2018. The bank has maintained high dividend yields and repurchases in order to boost return on equity (or RoE). It has relatively high capital adequacy ratios and has passed recent stress tests. However, a further hike in payouts will depend on its growth in operating performance. Amid rising rates and lower taxes, credit offtake has been weaker.
The Federal Reserve is expected to increase the Fed funds rate two more times in 2018. The yield curve is flattening, indicating a smaller difference between short-term and long-term interest rates. This has happened because the Fed has pushed for higher short-term rates with no major uptick in long-term rates. A flattening yield curve is a cause for concern, as it indicates weaker expectations from long-term equity and debt assets.
President Trump has canceled the scheduled meeting with North Korea’s Kim Jong-un on June 12. The Trump administration and China have achieved consensus in their trade war negotiations, with China agreeing to import natural gas to the tune of $50 billion annually as well as increase agricultural imports by ~30%.
The Trump administration is pushing for policy changes on multiple fronts like tax cuts, trade wars, a push for domestic manufacturing, changes in the Dodd-Frank Act, and immigration policies. Overall, the policies are directed towards improving manufacturing growth and improving operating cash flows for companies in the US. Banks (XLF) with a major domestic presence including Wells Fargo (WFC) and JPMorgan (JPM) are expected to benefit from these policies due to a boost to credit growth.
JPMorgan Chase & Co. is now the reluctant part owner of Remington Outdoor Co. after a national debate over gun rights has led other companies to reconsider their relationships with the firearms industry. JPMorgan Asset Management, which handles client funds, was one of Remington's biggest lenders before its bankruptcy and bought the debt without knowing it would one day end up owning the company, one of America’s largest and most historic gunmakers. During the bankruptcy, JPMorgan supplied, along with Franklin Templeton, the $100 million loan to carry it through and out of the Chapter 11 process.
Wells Fargo (WFC) benefited alongside other bankers from rising rates, which resulted in better rate spreads for existing loan books. The bank continues to command the highest net interest margins (or NIMs) among peers (XLF). However, rate hikes going forward aren’t expected to boost margins, and will instead put pressure on further lending due to higher interest rates.
The financial-services giant is looking to grow its presence here in the Queen City, and it’s doing so through the middle market.
Wells Fargo Stock Has Been Weak amid Controversy: Can It Recover? Wells Fargo (WFC) continues to see a contraction in its loan book in recent quarters mainly due to strict underwriting guidelines and repayments from existing clientele. Overall banks (XLF) are facing difficulty in expanding their loan books amid rising interest rates, which has pushed corporates to reduce leverage.
The bank reform bill aimed at rolling back regulations from the Dodd-Frank, Wall Street Reform and Consumer Protection Act has won the support of the National Association of Realtors (NAR), which said that it will bring much-needed relief to the banking market and increase the availability of mortgages. With President Donald Trump repeatedly expressing animosity toward the Dodd-Frank Act, it's likely that the new bill will become law when it lands on his desk. After all, once the bill becomes law, smaller banks will be able to lend more – and that includes mortgages.
The bank's philanthropic wing has set out to confront inequality on multiple front with the aim of creating new opportunities for women and minorities.
JPMorgan Chase & Co. is taking more space at One Oxford Centre in downtown Pittsburgh as it continues to build out its middle market banking team. “Over the next six months, we’re tripling the space here,” said David Schaich, region manager for the western Pennsylvania middle market. JPMorgan Chase (NYSE:JPM) defines middle market companies as those with revenue ranging from $20 million to $500 million.
Wells Fargo (WFC) has had a flat operating performance over the past six quarters compared to the stellar performances by its industry peers (XLF) mainly due to controversies involving the fake account opening scam and the latest news about the alteration of internal records. The bank is finding it difficult to shore up its loan book amid such controversies, and its efforts to bump up its integrity through new marketing campaigns are being derailed. The stock has tanked 9.6% over the past one quarter owing to weaker performance and continued controversies surrounding employee culture.
A new report from the Federal Reserve found that four in 10 Americans don’t have the cash to pay for an unexpected expense without selling a belonging or borrowing funds. The Federal Reserve released its fifth annual Survey of Household Economics and Decisionmaking, which reflects generally how well Americans are doing financially.
The latest on developments in financial markets (all times local): 4 p.m. U.S. stocks turned higher and finished with small gains after the Federal Reserve indicated it's not in a hurry to raise interest ...
JPMorgan Chase, one of the world's largest financial service companies, is among those doing well: this month, Morgan Stanley added it to its list of the 30 best long-term stock picks. "The main criterion is sustainability — of competitive advantage, business model, pricing power, cost efficiency and growth.
The nation’s largest banks — such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley — have operations around the country. Here are other recent stories reported by The Business Journals and other media outlets.
As it stands, Wells Fargo stock is down nearly 11%. If headlines are anything to go by, the once-revered financial institution will face even more challenges. The big bank’s troubles began with accusations that lower-level employees were creating fake customer accounts to meet impossible sales targets.
Hub 25 has sold for $74 million to JP Morgan Asset Management (NYSE: JPM), according to CBRE. Developed by Westfield Company, the property located at 601 E 64th Ave. in Denver is 95 percent leased. The class A multi-tenant industrial campus is on the site of the former Mapleton High School.
JPMorgan said on Wednesday it has pushed back rate hike expectations from March 2019 to June 2019 after a business survey showed that euro zone economic growth slowed much more sharply than expected this month. IHS Markit's Euro Zone Composite Flash Purchasing Managers' Index (PMI), considered a gauge of economic health, slowed in May to an 18-month low of 54.1 from 55.1, below all forecasts in a Reuters poll, which predicted a reading of 55.0. JPMorgan said it has also cut its growth forecast for the second quarter of 2018 to 2.5 percent from 3 percent previously.