|Bid||28.76 x 900|
|Ask||28.82 x 1200|
|Day's Range||28.72 - 28.84|
|52 Week Range||25.28 - 28.90|
|Beta (3Y Monthly)||0.07|
|PE Ratio (TTM)||6.38|
|Forward Dividend & Yield||1.66 (5.75%)|
|1y Target Est||N/A|
Wells Fargo said expenses for 2019 will be near the "high end" of its previously given estimates as it continues to spend on compliance and risk management.
JPMorgan reported better-than-expected second-quarter earnings early Tuesday, helped by an income tax boost. Goldman Sachs and Wells Fargo also beat.
Wells Fargo & Co. has more work to do when it comes to reducing operating expenses. Executives addressed this multiple times during Wells Fargo's investor call this morning following the release of its second-quarter earnings report.
While the biggest risk ahead is that lower interest rates will pressure banks' bottom lines in the coming months, the squeeze is already beginning. JPMorgan Chase & Co and Wells Fargo & Co both reported drops in net interest margins as they paid more for deposits. JPMorgan, the nation's biggest bank, lowered its outlook for net interest income to "about $57.5 billion" in 2019 from the $58-plus billion it estimated in February. On Monday, Citigroup similarly reported a decline in net interest margin.
Lower costs were a primary driver of earnings in the most recent quarter and were a cornerstone of former CEO Tim Sloan's plan to deliver higher profits while the bank worked on moving past its scandals. Parker was thrust into the job in March when former CEO Tim Sloan resigned abruptly, saying pressure from politicians and regulators had become a distraction in running the scandal-plagued bank.
The bank’s second-quarter earnings per share and revenue topped expectations, although net interest margin slipped. Wells Fargo has yet to find a permanent CEO.
Despite not being allowed to grow in size and a challenging interest rate environment, Wells Fargo delivered a strong second quarter.
San Francisco-based Wells Fargo & Co. exceeded analysts' expectations in its second-quarter earnings report released this morning.
Wells Fargo Securities downgraded the stocks of NASCAR's major speedway operators on Monday as the sport looks to rebound from years of declining interest.
Wells Fargo posted stronger-than-expected second quarter earnings Tuesday but a fall in non-performing assets failed to offset a slump in one of its key profit measurements.
Wells Fargo on Tuesday reported second-quarter revenues that were roughly flat and profits that exceeded Wall Street’s expectations. Second-quarter revenues were little changed from a year ago at $21.6bn, just ahead of analyst expectations for $20.9bn, according to a Refinitv survey of Wall Street analysts. its target for 2019 net interest income, citing the effect of a flattening yield curve on its ability to reinvest customer deposits at higher rates.
On Tuesday, July 16, Wells Fargo (NYSE: WFC ) will release its latest earnings report. Benzinga's outlook for Wells Fargo is included in the following report. Earnings and Revenue Wall Street analysts ...
While things have improved for the banking giant in 2019 after a string of recent scandals, the stock peaked at $52.42 on March 19.
Traders this week will have plenty to sink their teeth into, between the start to second-quarter earnings season, hearings on Facebook’s controversial new cryptocurrency project and Amazon’s Prime Day extravaganza.
Whether advancing LGBTQ equality or climbing Mount Kilimanjaro, BofA's Cathy Bessant has been up to the challenge. Will fixing Wells Fargo be next?